Systematic Risk Moderates the Relationship Between Economic Value Added, Market Value Added, and Trading Volume Activity with Stock Returns (A Study of LQ-45 Companies Listed on the Indonesia Stock Exchange for the 2019-2023 Period)

This study aims to examine the factors influencing stock returns in companies listed in the LQ45 index on the Indonesia Stock Exchange. Stock returns are a key indicator for investors in evaluating the results of investment activities in the capital market. The three independent variables described are Economic Value Added (EVA), Market Value Added (MVA), and Trading Volume Activity (TVAT). The purpose of this study is to examine the systematic role of EVA, MVA, and TVA in moderating the influence of stock returns in LQ45 companies during the 2019–2023 period. This study uses a quantitative approach with an associative method. The results show that simultaneously, EVA, MVA, and TVA have a positive effect on returns. Financial information is used to build investor confidence.