the effect of debt to equity ratio and return on equity on stock return withdividend policy as intervening variables in subsectors property and real estateon indonesia stock exchange

Debt to equity ratio (der) and return on equity (roe) to stock returns with dividend policy asan intervening variable on property and real estate companies listed on the indonesia stock exchange in2014-2018. this type of research is quantitative. this research population publishes all property and realestate companies listed on the indonesia stock exchange. the sampling technique used is purposivesampling. the data contributed to the research of 54 companies, and obtained a sample of 18 companies.data analysis method used is path analysis (path analysis) using the multiple test. based on the results ofdata analysis, it shows that: (1) debt to equity ratio (der) does not affect stock returns; (2) return onequity (roe) has a significant effect on stock returns; (3) debt to equity ratio (der) has a significanteffect on dividend payout ratio (dpr); (4) return on equity (roe) has a significant effect on dividendpayout ratio (dpr); (5) dividend payout ratio (dpr) can mediate the effect of debt to equity ratio(der) on stock returns; (6) dividend payout ratio (dpr) can mediate the effect of return on equity(roe) on stock returns.