PENGARUH LIKUIDITAS, PROFITABILITAS, DAN STRUKTUR MODAL TERHADAP HARGA SAHAM

Abstract

This research aimed to examide and analyze the effect of liquidity, profitability and capital structure on stock price of LQ-45 companies. The research was quantitative. Moreover, the population was 63 of LQ-45 companies. Furthermore, the data collection technique and purposive sampling. In line with, there were 21 companies which belong to LQ-45 index and Indonesia Stock Exchange during 2017-2019. Additionally, the data were secondary, which in form of companies’ annual report. In addition, the data analysis technique used multiple linear regression with SPSS 26. The research result concluded Current Ratio had negative effect on stock price. It showed investors did not pay attention on companies’ liquidity as consideration of its fluctuation. On the other hand, Return On Asset had positive effect on stock price. This showed the higher the companies’ ability in gaining some profits was, the higher the stock price would be. Meanwhile, Debt to Equity Ratio did not affect stock price as investors liked to have low capital strukture, which gained small risk.
Keywords: liquidity, profitabilit, capital structure, stock price