PENGARUH RASIO LIKUIDITAS, RASIO PROFITABILITAS, RASIO SOLVABILITAS, RASIO AKTIVITAS DAN RASIO PASAR TERHADAP HARGA SAHAM
DOI:
https://doi.org/10.22437/jmk.v12i2.25330Abstract
The purpose of this study was to determine the effect of liquidity ratios, profitability ratios, solvency ratios, activity ratios, and market to share price ratios in companies in the basic and chemical industrial sectors listed on the Indonesia Stock Exchange for the 2019-2021 period. The samples in this study were 39 Companies in the Basic Industry and Chemical Sector Listed on the Indonesian Stock Exchange. The data in this research is secondary data. The analytical method used is the classical assumption test and multiple regression analysis using the SPSS 25 program. The results show that simultaneously the variable liquidity ratios, profitability ratios, solvency ratios, activity ratios, and market ratios affect stock prices. Partially, market ratios have an effect on stock prices, while liquidity ratios, profitability ratios, solvency ratios, and activity ratios have no effect on stock prices in chemical and basic industrial companies listed on the Indonesia Stock Exchange in 2019-2021.
Downloads
References
Agung, J. S., & Susilawati, Ci. E. (2021). Industri Dasar Dan Kimia Menjadi Salah Satu Industri Yang Tertekan Pada Masa Covid-19 Ini, Permintaaan Akan Barang Jadi Dan Kimia Yang Menurun Karena Berkurangnya Daya Beli Serta Kapasitas Produksi Perusahaan. Jurnal Ilmiah Manajemen Bisnis Dan Inovasi Universitas Sam Ratulangi, Vol. 8 No.
Ahmed, I. (2018). Impact Of D Ividend Per S Hare And E Arnings Per S Hare On S Tock P Rices : A C Ase S Tudy From P Akistan ( T Extile S Ector ). IJSSHE-International Journal of Social Sciences, Humanities and Education, 2(2).
Al-Manaseer, S. R. (2020). Impact of Market Ratios on the Stock Prices: Evidence from Jordan. International Business Research, 13(4), 92. https://doi.org/10.5539/ibr.v13n4p92
Alaagam, A. (2019). The Relationship Between Profitability and Stock Prices: Evidence from the Saudi Banking Sector. Research Journal of Finance and Accounting, 10(14), 91–101. https://doi.org/10.7176/RJFA/10-14-09
Amin, O. (2018). The Effect Of The Financial Ratios On The Share Price Of Insurance Companies Listed In The Iraqi Stock Exchange Market Using Multiple Regression Analysis (Applied Research In The Iraqi Stock Exchange Market). Studies And Scientific Researches. Economics Edition, (27), 44–55. https://doi.org/10.29358/sceco.v0i0.403
Annand, D., Dauderis, H., Jensen, T., & Morpurgo, M. (2022). Introduction to Financial Accounting. Calgary, Alberta, Canada: Lyryx Learning Inc. Diambil dari https://lyryx.com/introduction-financial-accounting/
Diaz, R., & Jufrizen. (2014). Pengaruh Return On Assets (ROA) dan Return On Equity (ROE) Terhadap Earning Per Share (EPS) Pada Perusahaan Asuransi yang Terdaftar di Bursa Efek Indonesia. Jurnal Manajemen dan Bisnis, Vol. 14 No(ISSN : 1693-7619).
Edem, I. N., Ekwe, M. C., & Azubike, J. U. B. (2018). The Inter-Play between Financial Ratios and Stock Market Prices of Deposit Money Banks in Nigeria JEL Classification Codes : M41 M48. International Accounting and Taxation Research Group, Faculty of Management Sciences, 2(2), 117–130.
Emin Muhamad Muhaemin. (2019). Pengaruh Current Ratio, Debt To Equity Ratio, Total Asset Turn Over Dan Return On Asset Terhadap Harga Saham. Universitas Pelita Bangsa.
Fabozzi, F. J., & Drake, P. P. (2009). Finance : Capital Market, Financial Management, and Investment Management. Nucl. Phys. (Vol. 13). Canada: John Wiley & Sons, Inc.
Fahrul Rhazi Siregar. (2022). Pengaruh Total Asset Turnover dan Debt To Equity Ratio Terhadap Harga Saham Dengan Return On Asset Sebagai Variabel Intervening Di Jakarta Islamic Index 2013-2020. Universitas Muhammadiyah Sumatera Utara.
Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program SPSS (Edisi 9). Semarang: Badan Penerbit Universitas Diponegoro.
Harahap, S. S. (2015). Analisis Kritis Atas Laporan Keuangan. Jakarta: Pt. Raja Grafindo.
Hery. (2016). Analisis Laporan Keuangn. Jakarta: PT. Grasindo.
Hidayat, R., Djoko, R., & Saudi, M. H. (2021). Effect of Return On Assets , Net Profit Margin and Earning Per Share on Stock Prices. Turkish Journal of Computer and Mathematics Education, 12(8), 1388–1403. https://doi.org/10.21070/acopen.5.2021.2406
Hutapea, A. W., Saerang, I. S., & Tulung, J. E. (2017). Pengaruh Return On Assets, Net Profit Margin, Debt To Equity Ratio, Dan Total Assets Turnover Terhadap Harga Saham Industri Otomotif Dan Komponen Yang Terdaftar Di Bursa Efek Indonesia. Jurnal EMBA, No. 2, 541–552.
Jakarta.bps.go.id. (n.d.). Indeks Harga Saham Gabungan Menurut Sektor. Diambil 11 November 2022, dari https://jakarta.bps.go.id/indicator/36/249/1/indeks-harga-saham-gabungan-menurut-sektor-dan-bulan.html
Jermsittiparsert, K., Ambarita, D. E., Mihardjo, L. W. ., & Ghani, E. K. (2019). Risk-Return Through Financial Ratios As Determinants Of Stock Price: A Study From Asean Region. Journal of Security and Sustainability Issues, 9(1), 199–210. https://doi.org/10.9770/jssi.2019.9.1(15)
Kaled, M. H. B. (2022). Effect of the financial ratios, company size and operational cash flows on the market share price of the Jordanian Industrial Public Shareholding Companies “Analytical study for the period 2005 - 2015.†Financial Statement.
Kariyoto. (2017). Analisis Laporan Keuangan. Malang: Universitas Brawijaya Press.
Kenneth, S. B. (2022). Introduction To Financial Analysis. New York: Touro University.
Larojan, C. (2021). Impact of Accounting Ratios on Stock Market Price of Listed companies in Colombo Stock Exchange. Journal of Economics and Business, 4(3), 1–10. https://doi.org/10.31014/aior.1992.04.03.365
Ligocká, M., & Stavárek, D. (2019). The Relationship Between Financial Ratios and the Stock Prices of Selected European Food Companies Listed on Stock Exchanges. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 67(1), 299–307. https://doi.org/10.11118/actaun201967010299
Mahiri, E. A., & Hernita, N. (2023). Pengaruh Suku Bunga, Earning Per Share, Dan Retun On Equity Terhadap Harga Saham. Jurnal Akuntansi Kompetif, 6(1), 143–150. https://doi.org/10.35446/akuntansikompetif.v6i1.1193
Marcelina, D. A., & Cahyono, K. E. (2022). Pengaruh Current Ratio, Return On Asset Dan Earning Per Share Terhadap Harga Saham (Studi Pada Perusahaan Farmasi Yang Terdaftar Di BEI). Jurnal Ilmu dan Riset Manajemen, 11(2), 15–18.
Meriç, E., Kamışlı, M., & Temizel, F. (2017). Interactions among Stock Price and Financial Ratios: The Case of Turkish Banking Sector. Applied Economics and Finance, 4(6), 107. https://doi.org/10.11114/aef.v4i6.2755
Milosevic-Avdalovic, S., & Milenkovic, I. (2017). Impact of company performances on the stock price: An empirical analysis on select companies in Serbia. Ekonomika poljoprivrede, 64(2), 561–570. https://doi.org/10.5937/ekoPolj1702561M
Mirgen, C., Kuyu, E., & Bayrakdaroglu, A. (2017). Relationship Between Profitability Ratios and Stock Prices: an Empirical Analysis on Bist-100. Pressacademia, 6(1), 1–10. https://doi.org/10.17261/pressacademia.2017.737
Ojah, H. K., Malik, Y. S., & Ali, A. M. M. (2019). Capital Solvency and Its Impact on the Stock Prices of Banks Listed on Iraq Stock Exchange -Applying to National Bank of Iraq. International Journal of Multidisciplinary Research and Publications, V 2( 5),31–36.
Pražák, T., & Stavárek, D. (2017). The Effect of Financial Ratios on the Stock Price Development. Interdisciplinary Economics and Business Research, 43(August), 3.
Rahman, M. J., & Liu, R. (2021). Value relevance of accounting information and stock price reaction: Empirical evidence from China. Journal of Accounting and Management Information Systems, 20(1/2021), 1–23. https://doi.org/10.24818/jamis.2021.01001
Ratnaningtyas, H. (2023). The Effect of Current Ratio and Total Assets Turnover on Stock Prices and Return On Assets as Intervening Variables, 7(1). https://doi.org/10.31602/atd.v7i1.8654
Siagian, A. O., Wijoyo, H., & Cahyono, Y. (2021). The Effect of Debt to Asset Ratio, Return on Equity, and Current Ratio on Stock Prices of Pharmaceutical Companies Listed on the Indonesia Stock Exchange 2016-2019 Period. journal of world conference(JWC), 3 no.
Siripong, W., Petchboun, K., Prisawong, C., Lohawijarn, P., Saengphong, W., Khongkeaw, S., & Suttipun, M. (2020). The Influence of Profitability on Stock Prices : A Case Study of Listed Companies in The Market for Alternative Investment ( MAI ). Hatyai Academic Journal, 18(2), 177–193.
Sujarweni, V. W. (2020). Analisi Laporan Keuangan, Teori, Aplikasi, & Hasil Penelitian. Yogyakarta: Pustaka Baru Press.
Suwardjono. (2011). Teori Akuntansi Perekayasaan Pelaporan Keuangan (Edisi Keli). Yogyakarta: BPFE Yogyakarta.
Tandelilin, E. (2017). Pasar Modal “Manajemen Portofolio dan Investasi. Yogyakarta: PT. Kanisius.
Urwaningtyas, F. (2019). Pengaruh Likuiditas dan Profitabilitas terhadap Harga Saham Perusahaan (Studi Kasus pada Perusahaan Manufaktur Food And Beverage Yang Terdaftar Di Bursa Efek Indonesia). jurnal. Universitas Bhayangkara Surabaya.
Wandita, & Khairudin. (2017). Analisis Pengaruh Rasio Profitabilitas, Debt to Equity Ratio (DER) dan Price to Book Value (PBV) Terhadap Harga Saham Perusahaan Pertambangan di Indonesia. Jurnal Akuntansi dan Keuangan, 8(1), 68–84.
Wilbert. (2022). The Effect Of Debt To Asset Ratio, Return On Assets, Total Asset Turnover, And Firm Size On Stock Prices (Empirical Study On Building Construction Subsector Companies Listed On The Indonesia Stock Exchange For The Period 2016-2020). Emabi : Ekonomi Dan Manajemen Bisnis, 1, 339–353. https://doi.org/10.4108/eai. 1118-
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Yuliusman Yuliusman, Mayang Oktaviani Malik, Susfa Yetti
This work is licensed under a Creative Commons Attribution 4.0 International License.
