Factors Affecting Stock Prices Using Moderation Variables in Coal Subsector Companies Listed on The Indonesian Stock Exchange 2015 - 2022
DOI:
https://doi.org/10.56956/jai.v3i01.297Keywords:
Net Profit Margin, Debt to Equity Ratio, Total Asset Turnover, Stock Prices, Firm SizeAbstract
The moderating variable in this study is firm size. The study aims to determine the effects of net profit margin, debt-to-debt equity ratio, and total asset turnover on stock prices. This study falls under the category of quantitative research and employs a descriptive and verification technique. Secondary data were used; the procedures for gathering the data were provided by documentation and a review of the literature. In the sampling process, purposeful sampling is employed. The data analysis techniques used in this study included modified regression analysis (MRA), coefficient of determination analysis, product-moment correlation coefficient analysis, multiple regression analysis, and the classical assumption test. According to the results of the simultaneous test (F test), the debt-to-equity ratio, net profit margin, and total asset turnover all influence stock prices concurrently. The correlation criterion table shows that the correlation score is between 41% and 60%, which indicates a moderate connection. This indicates that, beyond the variables analysed, there exist additional factors that have the potential to increase the share prices of mining companies in the coal subsector on the Indonesia Stock Exchange between 2015 and 2022.
References
Brigham, E.F., & Houston, J.F. (2018). Dasar-Dasar Manajemen Keuangan. Jakarta: Salemba Empat.
Fahmi, I. (2020). Analisis Laporan Keuangan. Bandung: Alfabeta.
Harahap, S.S. (2018). Analisis Kritis Atas Laporan Keuangan. Jakarta: PT Raja Grafindo Persada.
Hery, A. (2023). Memahami Laporan Keuangan dengan Analisisnya. Depok: Papas Sinar Sinanti.
Husnan, S. (2015). Dasar-dasar Teori Portofolio & Analisis Sekuritas Edisi Kelima. In Yogyakarta: UPPSTIM YKPN.
Jusuf, J. (2014) Analisis Kredit Untuk Account Officer. Jakarta. PT Gramedia.
Kasmir. (2016). Manajemen Sumber Daya Manusia (Teori dan Praktik). Depok: PT Rajagrafindo Persada.
Kasmir. (2021). Analisis Laporan Keuangan. Depok: PT Raja Grafindo Persada.
Lie Sha, T. (2015). Pengaruh Kebijakan Deviden, Likuiditas, Net Profit Margin, Return on E -quity dan Price to Book Value Terhadap Harga Saham Pada Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia 2010-2013. Jurnal Ekonomi Akuntansi UNTAR. ISSN: 1410-3591.
Mandagie, Y., Saerang, I., & Polii, P. (2014). Rasio Keuangan Pengaruhnya Terhadap Harga Saham Pada Bank Umum Swasta Nasional Devisa Yang Go Public Di Bursa Efek Indonesia. Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 2(2).
Pramudya, W.H., et.al. (2022). Profitabilitas, Harga Saham Dan Ukuran Perusahaan Sebagai Variabel Moderasi. E-Jurnal Akuntansi, Vol. 32, No. 7, Juli 2022, e-ISSN: 2302-8556.
Ridwan, R. (2023). The Effect of Return on Assets, Effective Tax Rate, and Company Size on Transfer Pricing in Food and Beverage Companies listed on the Indonesia Stock Exchange. Indonesian Journal of Economics and Management, 3(2), 337-343. https://doi.org/10.35313/ijem.v3i2.4791
S. Sharma, R.M. Durand, O. Gur-Arie. (1981). Identification and analysis of moderator variables. Journal of Marketing Research, 18(3), 291.
Sugiri, S. (2011). Akuntansi Manajemen. UPP STIM YKPN.Yogyakarta.
Sugiyono. (2022). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Sugiyono. (2022). Statistika Untuk Penelitian. Bandung: Alfabeta.
Toni, N et al. (2021). Praktik Peralatan Laba (Income Smoothing) Perusahaan. Indramayu: Penerbit Adab.
