Pengaruh Profitabilitas Dan Likuiditas Terhadap Harga Saham Sebelum Dan Saat Pandemi Covid-19

Abstract

Financial ratios are one of the indicators used to assess the company's financial performance. The better the financial performance of a company will attract investors to invest in the company and the stock price will increase.
 The research aims to determine the impact of profitability as proxied by Return On Assets and Net Profit Margin, and liquidity proxied by Current Ratio and Quick Ratio on stock prices partially or simultaneously before and during the covid-19 pandemic, as well as knowing the differences in the Return On Assets, Net Profit Margin, Current Ratio, Quick Ratio, and stock prices before and during the covid-19 pandemic. This type of research is quantitative with an associative and comparative approach. The population of this research is the pharmaceutical industry sector and the Food and Beverage industry sector listed on the Indonesia Stock Exchange totaling 43 companies. The sampling method using purposive sampling method obtained as many as 13 companies. This research uses secondary data with data sources in the form of financial statements and stock prices for the 2019-2020 quarter from the www.idx.com website. So that the data obtained amounted to 52 data.
 In this research, in testing the data using IBM SPSS ver 25, the data analysis was carried out by multiple linear regression analysis and also different tests, namely the paired sample t-test and the Wilcoxon signed rank test. The results obtained are that partially ROA and CR have no significant effect on stock prices before and during the covid-19 pandemic, while NPM and QR have a significant effect on stock prices before and during the covid-19 pandemic. Simultaneously ROA, NPM, CR and QR have an effect on stock prices before and during the covid-19 pandemic. There is no difference between ROA, NPM, and Stock Price between before and during covid-19, while CR and QR there is a difference between before and during the covid-19 pandemic. The calculation of the coefficient of determination before covid-19 pandemic showed that all independent variables could explain the dependent variable of 81.1% and the remaining 18.9% was explained by factors outside the study, while during covid-19 pandemic all independent variables could explain the dependent variable of 21.8% the remaining 78.2% is explained by factors outside the study.
 
 Keywords: Return on Asset (ROA), Net Profit Margin (NPM), Current Ratio (CR). Quick Ratio (QR), Stock Price

Daya Tahan Unit Usaha Syariah di Indonesia Sebelum dan Selama Pandemi Covid-19

“…Meskipun demikian berbanding terbalik dengan penjelasan (Peso et al, 2023) bahwa ternyata meskipun menghasilkan laba tetapi tidak berpengaruh pada return saham. Hal ini didukung oleh (Marlina & Anggraini, 2022) yang menjelaskan bahwa selama pandemi perusahaan masih mampu memperoleh laba, namun jika dibandingkan antara sebelum dan selama pandemi perolehan laba tidak ada perbedaan.…”

“…Likuiditas juga menjadi salah satu ukuran kesehatan bank syariah yang ditunjukkan melalui kinerja keuangan yang diukur dari financing to deposit ratio (FDR) dimana dapat dijadikan sebagai salah satu daya tahan bank syariah pada saat terjadi krisis keuangan (Afkar, 2015). Pada saat pandemi covid-19 ini tingkat likuiditas mengalami penurunan jika dibandingkan sebelum pandemi (Marlina & Anggraini, 2022). Kondisi seperti ini bisa saja dilakukan prediksi yang memungkinkan terjadinya krisis karena berhubungan dengan financial distress (Okrisnesia et al, 2020).…”

“…Seperti yang dijelaskan oleh bahwa bank syariah diprediksi mengalami kerugian, namun pada kenyataannya masih mampu mendapatkan laba dan tidak ada perbedaan selama pandemi maupun sebelum pandemi . Selain itu dilihat dari penelitian tentang likuiditas juga menunjukkan hasil yang tidak konsisten karena beberapa penelitian menjelaskan bahwa tingkat likuidtas selama pandemi dinilai sehat (Kaaba et al, 2022), namun berbeda dengan (Marlina & Anggraini, 2022) yang menyatakan bahwa tingkat likuiditas selama pandemi mengalami penurunan.…”

“…Hasil penelitian ini dilihat dari tingkat likuiditas menunjukkan penuruan signifikan sehingga dapat dikatakan bahwa situasi pandemi memberikan dampak yang kurang baik, seperti yang disampaikan (Marlina & Anggraini, 2022) bahwa tingkat likuiditas sebelum dan pada saat pandemi terdapat perbedaan. Selain itu (Amrina et al, 2021) juga menjelaskan bahwa tingkat likuiditas cenderung mengalami penurunan pada saat pandemi.…”