The Effect Of Company Financial Performance On Stock Prices With Dividend Payout Ratio As Intervening Variables In Food And Beverage Sector Companies

Abstract

The food and beverage industry (Food & Beverages Sector) is part of a rapidly growing manufacturing 
 company in Indonesia. If measured by the number of companies listed on the Indonesia Stock Exchange from 
 time to time, it is increasing. Food and beverage companies were chosen because they play an important role 
 in meeting consumer needs, especially during the COVID-19 pandemic. Food and beverage companies are 
 still alive compared to other sectors. This study aims to determine the effect of the company's financial 
 performance on stock prices with the dividend payout ratio as an intervening variable in the food and 
 beverage sector companies. Dethe science used is researchcausal associative (Causal Relationship) andcomparative. The type of data used in this survey is secondary data, with a sample of 14 2015-2021 annual reports of food and beverage companies listed on the IDX.This research uses SPSS and SmartPLS 3 software methods.Hasil from the study shows that solvency and activity have a significant effect on dividend payout ratioi and stock prices, while profitability and liquidity have no significant effect on dividend payout ratios and stock prices. Dividend payout ratio has an effect on stock pricesin food and beverage sector companies on the IDX. Bmeans Dividend payout ratio has an effect on stock prices. Financial performance, which consists of solvency and activity, has an indirect effect on stock prices mediated by the dividend payout ratio, while profitability and liquidity have no indirect effect on stock prices mediated by the dividend payout ratio. There is no significant difference between the average stock pricesfood and beverage companies before and during the covid-19 pandemic in Indonesia.

Faktor-Faktor Penentu Profitabilitas Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

“…Furthermore, it is the periodic effectiveness determination of company operationalization and human resources based on set aims, established standards, and expected criteria. In this context, a company's financial performance is measured by its profitability (Jakataofik et al, 2023;Osadchy et al, 2018).…”

Dividend Payout Determinants in Small and Medium-Sized Manufacturing Firms: An Empirical Analysis

“…However, the factors that affect this ratio are still unknown. Jakataofik et al (2023) found that economic and legal factors affect the ratio. Rahmiyanti and Pratama (2023) say dividends indicate a company's financial health, past performance, and future potential.…”