Lifas Sastria Duha, Warseno Warseno, Misael Efraim Manurip, Rahmawati Anita

Pengaruh Profitabilitas Nilai Perusahaan Dan Leverage Terhadap Harga Saham Pada Perusahaan Sektor Industri Yang Terdaftar Di Bursa Efek Indonesia Pada Tahun 20192023

Introduction

Pengaruh profitabilitas nilai perusahaan dan leverage terhadap harga saham pada perusahaan sektor industri yang terdaftar di bursa efek indonesia pada tahun 20192023. Telusuri pengaruh profitabilitas, nilai perusahaan, dan leverage pada harga saham perusahaan industri BEI 2019-2023. Profitabilitas berpengaruh positif signifikan.

Abstract

This study aims to analyze the effect of profitability, company value, and leverage on stock prices in industrial sector companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2023 period. The companies used in this study are industrial sector companies listed on the Indonesia Stock Exchange. Sample selection was carried out using a purposive sampling technique with the results of 16 companies. This study uses a quantitative approach with data analysis methods used descriptive statistical tests, classical assumption tests, multiple regression analysis, and hypothesis testing. The results of this study indicate that simultaneously profitability, company value, and leverage have a significant positive effect on stock prices. However, partially profitability has a significant positive effect on stock prices, while company value and leverage do not have a significant positive effect on stock prices.

Review

This study investigates the influence of profitability, company value, and leverage on stock prices within the industrial sector of the Indonesia Stock Exchange between 2019 and 2023. The research addresses a highly pertinent topic in financial markets, aiming to provide valuable insights for investors, corporate managers, and policymakers navigating an emerging market context. By focusing on three critical financial metrics, the study contributes to the ongoing discourse regarding factors driving equity performance, particularly within a sector sensitive to economic fluctuations and corporate financial health. The objective is clearly stated, setting a precise scope for the analysis. Methodologically, the study adopts a quantitative approach, employing standard statistical techniques including descriptive analysis, classical assumption tests, multiple regression, and hypothesis testing. This framework is generally appropriate for examining the relationships between financial variables. However, a notable aspect is the sample size, which consists of 16 companies selected through purposive sampling. While the period of 2019-2023 offers a timely snapshot, a relatively small sample size for a broad sector like 'industrial' might raise questions about the generalizability and robustness of the findings. The results indicate that, simultaneously, profitability, company value, and leverage collectively exert a significant positive effect on stock prices. Intriguingly, when analyzed partially, only profitability maintains a significant positive impact, while company value and leverage individually do not show a significant positive effect. Overall, the paper presents a clear objective and utilizes appropriate statistical tools for its stated aims. The finding that profitability remains a significant individual driver of stock prices is a strong and intuitive contribution. However, the divergence between the simultaneous and partial effects for company value and leverage warrants deeper discussion and theoretical exploration within the paper. Further research could benefit from expanding the sample size to enhance the generalizability of the findings and potentially incorporating additional control variables such as macroeconomic indicators or industry-specific risk factors. Clarifying the specific proxies used for "company value" would also improve the study's precision and replicability. Nonetheless, this study provides a relevant preliminary analysis, highlighting the importance of profitability in the Indonesian industrial sector's stock performance.

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