Pengaruh Rasio Likuiditas, Solvabilitas, dan Profitabilitas terhadap Harga Saham pada Perusahaan Subsektor Makanan dan Minuman di BEI
DOI:
https://doi.org/10.26740/jim.v10n2.p725-736Keywords:
current ratio, debt to equity ratio, return on equity, stock priceAbstract
This study aims to obtain empirical evidence of the effect of liquidity ratios, solvency, and profitability on stock prices. The liquidity ratio is measured using the Current Ratio (CR), the solvency ratio is measured using the Debt to Equity Ratio (DER), the profitability ratio is measured using the Return on Equity (ROE). The sampling method is purposive sampling. The sample includes 10 companies in the food and beverage sub-sector on the Indonesia Stock Exchange (IDX) for the period 2016 to 2020. The hypothesis in this study was tested using multiple linear regression analysis model with Eviews12 software. The results of this study prove that simultaneously CR, DER and ROE affect the stock prices of food and beverage sub-sector companies listed on the IDX for the 2016-2020 period. Partially CR and ROE have an effect on stock prices and DER have no effect on stock prices for banking companies listed on the IDX for the 2016-2020 period. Based on the results of the regression analysis, it can be seen that the variables that have a significant influence on stock prices of the food and beverage sub-sector are Current Ratio and Return on Equity variables. That means, the variable in this study becomes a variable that can be used as a reference for investors in determining investment strategies.
References
Abi, F. P. P. (2016). Semakin dekat dengan pasar modal Indonesia (1st ed.). Yogyakarta: Deepublish.
Ahmad Solihin, Afrizal, & Lilik Sulistyowati. (2021). The Effect Of Price Earning Ratio, Current Ratio, Net Profit Margin And Debt To Equity Ratio On Stock Prices Of The Lq-45 Index Of The Indonesia Stock Exchange 2016-2018. International Journal of Science, Technology & Management, 2(5), 1441–1448. https://doi.org/10.46729/ijstm.v2i5.361
Arfah, A., & Putra, A. H. P. K. (2019). Analysis of productivity and distribution of female workers in FB’s industries. Journal of Distribution Science, 17(3), 31–39. https://doi.org/10.15722/jds.17.03.201903.31
Azis, M., Mintarti, S., & Nadir, M. (2015). Manajemen Investasi Fundamental, Teknikal, Perilaku Investor dan Return Saham. Yogyakarta: Deepublish.
Cahyaningrum, Y. W., & Antikasari, T. W. (2017). Pengaruh Earning Per Share, Price To Book Value, Return on Asset, Dan Return on Equity Terhadap Harga Saham Sektor Keuangan. Jurnal Economia, 13(2), 191. https://doi.org/10.21831/economia.v13i2.13961
Fenny, & Edward, Y. R. (2021). Effect of Return on Equity , Debt to Equity Ratio and Current Ratio to Stock Returns in Large Trading Companies Listed on the Indonesia Stock Exchange 2016-2018 Period. International Journal of Research and Review, 8(5), 389–396. https://doi.org/https://doi.org/10.52403/ijrr.20210548
Hasanah, U., & Sulistiyo, H. (2021). The Effect of Cr, Der, and Roe on Stock Prices Transportation Sub Sector Companies Listed on the Indonesia Stock Exchange, Nominal: Barometer Riset Akuntansi dan Manajemen 10(1), 102-117.
Hung, D. N., Ha, H. T. V., & Binh, D. T. (2018). Impact of accounting information on financial statements to the stock price of the energy enterprises listed on vietnam’s stock market. International Journal of Energy Economics and Policy, 8(2), 1–6.
idx.co.id. (2020). Laporan Keuangan dan Tahunan. (https://www.idx.co.id/perusahaan-tercatat/laporan-keuangan-dan-tahunan/, diakses pada 28 November 2021).
Idxchannel.com (2021). Apa Itu Pasar Modal? Cek Yuk Fungsi, Contoh dan Manfaatnya. (https://www.idxchannel.com/market-news/apa-itu-pasar-modal-cek-yuk-fungsi-contoh-dan-manfaatnya, diakses pada 25 mei 2022).
Isna Asdiani Nasution, & Angelin. (2021). The Influence Of Return On Assets, Current Ratio And Earning Pershare On Stock Prices Of Manufacturing Companies In The Consumption Industry Sector In The Indonesia Stock Exchange 2012-2015. International Journal of Science, Technology & Management, 2(4), 1383–1386. https://doi.org/10.46729/ijstm.v2i4.251
Jihadi, M., Vilantika, E., Hashemi, S. M., Arifin, Z., Bachtiar, Y., & Sholichah, F. (2021). The Effect of Liquidity, Leverage, and Profitability on Firm Value: Empirical Evidence from Indonesia. Journal of Asian Finance, Economics and Business, 8(3), 423–431. https://doi.org/10.13106/jafeb.2021.vol8.no3.0423
Juwita, C. P., & Diana, N. (2012). The Effect Of DER And ROE On Stock Price JII Compnies. Management Analysis Journal, 1(2), 120–128.
Kasmir. (2019). Analisis Laporan Keuangan (Edisi Revisi). Jakarta: Raja Grafindo Persada.
kemenperin.go.id. (2021). Industri Makanan dan Minuman Diakselerasi Menuju Transformasi Digital. (https://kemenperin.go.id/artikel/22485/Industri-Makanan-dan-Minuman-Diakselerasi-Menuju-Transformasi-Digital, diakses pada 20 desember 2021).
Kontan.co.id. (2021). Industri mamin masih akan tertekan, simak saham-saham rekomendasi analis. (https://investasi.kontan.co.id/news/industri-mamin-masih-akan-tertekan-simak-saham-saham-rekomendasi-analis, diakses pada 13 februari 2022).
Meilvinasvita, D., Safaruddin, S., & Yuliana, Y. (2020). Pengaruh ROE, DER, dan EPS Terhadap Harga Saham pada Emiten Syariah Sektor Barang Konsumsi di BEI. Http://Journal.Unmasmataram.Ac.Id/, 1(2), 1–13. https://doi.org/10.38038/vocatech.v1i2.23
Ngwakwe C, C. (2020). Effect of COVID-19 Pandemic on Global Stock Market Values: A Differential Analysis. Acta Universitatis Danubius. Œconomica, 16(2), 255–269.
Partomuan, F. T. (2021). Pengaruh Cr, Der Dan Roe Terhadap Harga Saham Pada Perusahaan Sub Sektor Konstruksi Yang Terdaftar Di Indeks IDX Value 30 Periode 2015-2019. Jurnal Inovatif Mahasiswa MAnajemen.1(3), 242–255.
Pražák, T., & Stavárek, D. (2017). The Effect of Financial Ratios on the Stock Price Development. Interdisciplinary Economics and Business Research, 43(August), 3.
Sepindo, Y., Suhendro, S., & Chomsatu, Y. (2020). the Effect of Liquidity Ratio, Profitability and Solvency on Stock Price in Construction and Building Companies Listed on Indonesia Stock Exchange Period 2014-2018. Proceedings International Seminar on Accounting Society, 2(1), 236–243.
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(2), 309–314.
Sunaryo, D. (2021). The Effect of Current Ratio (CR), Debt to Equity Ratio (DER), and Earning Per Share (EPS) on Share Prices With Returning Assets as a Moderated Variables in Food and Beverage Companies Subsector Companies19 In 2012-2019 Asia Stock Exchange. Management, Business and Social Science (IJEMBIS) Peer Reviewed-International Journal, 1(January), 98–110. https://cvodis.com/ijembis/index.php/ijembis
Tandelilin, E. (2017). Pasar modal : manajemen portofolio & investasi (G. Sudibyo (ed.)). Yogyakarta: PT Kanisius.
Thea, E. S. (2021). Pengaruh Rasio Likuiditas, Solvabilitas, Profitabilitas Terhadap Harga Saham Subsektor Perkebunan Yang Terdaftar Di Bursa Efek Indonesia. COSTING: Journal of Economic, Business and Accounting, 4(2), 540-546.
Wahyuni, T., Afriany, A. N., & Basri, A. I. (2021). Pengaruh Profitabilitas, Likuiditas, Solvabilitas, dan Rasio Pasar Terhadap Harga Saham pada Perusahaan. Pacioli: Jurnal Kajian Akutansi dan Keuangan, 1(1), 22-28.
Wibowo, E., Utami, S. S., & Dewati, A. R. A. (2022). The Effect of Return on Equity, Earning Per Share, and Net Profit Margin on Stock Prices of Banking Companies Listed on the Indonesia Stock Exchange for the Period of 2018 – 2020. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5(1), 162–171. https://doi.org/10.33258/birci.v5i1.3589
Xie, L., Wang, M., & Huynh, T. L. D. (2021). Trust and the stock market reaction to lockdown and reopening announcements: A cross-country evidence. Finance Research Letters, July, 102361. https://doi.org/10.1016/j.frl.2021.102361
Yu, H., Nartea, G. V., Gan, C., & Yao, L. J. (2013). Predictive ability and profitability of simple technical trading rules: Recent evidence from Southeast Asian stock markets. International Review of Economics and Finance, 25, 356–371. https://doi.org/10.1016/j.iref.2012.07.016
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons:Attribution-NonCommercial 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
Abstract views: 310
,
PDF Downloads: 775
