Faktor-Faktor yang Mempengaruhi Harga Saham: Berdasarkan Signaling Theory

Abstract

This study aims to empirically prove the effect of financial ratios on stock prices. The research population used is mining sector companies listed on the Indonesia Stock Exchange (IDX) in 2016-2019, the sampling technique used is purposive sampling and data analysis using multiple linear regression. The results of this study indicate that the Current Ratio can increase stock prices, so a high Current Ratio will increase stock prices. Earnings per share and Return on Assets are not able to be predictors of stock prices because they are negatively correlated, this result is contrary to the theory because in the year of observation many companies lost. A low or high Debt to Equity Ratio is not a predictor of stock prices because it is not the main factor that can increase or decrease stock prices. ABSTRAKPenelitian ini bertujuan untuk membuktikan secara empiris pengaruh rasio keuangan terhadap harga saham. Populasi penelitian yang digunakan adalah perusahaan sektor pertambangan yang listing di Bursa Efek Indonesia (BEI) tahun 2016-2019, teknik sampling yang digunakan yaitu purposive sampling dan analisis data menggunakan regresi linear berganda. Hasil penelitian ini menunjukkan bahwa Current Ratio mampu meningkatkan harga saham, sehingga Current Ratio yang tinggi akan meningkatkan harga saham. Earning per Share dan Return on Assets tidak mampu menjadi prediktor harga saham karena berkorelasi negatif, hasil ini bertolak belakang dengan toeri karena pada tahun pengamatan banyak perusahaan yang rugi. Debt to Equity Ratio yang rendah atau tinggi tidak menjadi prediktor harga saham karena bukan faktor utama yang mampu meningkatkan atau menurunkan harga saham.

The Effect Of Profitability, Liquidity, Leverage, Company Size and Assets Growth on Stock Return: Empirical evidence from Indonesia

“…The entity can use capital effectively to earn profits if the profitability value is high. High profits are attractive for investors to invest (Anisa et al, 2022). The more investors are interested in company shares, the more the company will be able to generate maximum profits by providing significant returns.…”

“…The larger the firm size, the more prosperous an entity with high profits. So, the rate of return increases for investors (Agustin et al, 2023;Anisa et al, 2022;Caroline et al, 2023).…”