PENGARUH STRUKTUR MODAL, KEBIJAKAN DIVIDEN, DAN PERGANTIAN AUDITOR TERHADAP HARGA SAHAM

Abstract

This research aimed to examine the effect of capital structure, dividend policy, and auditor replacement on stock price. While dependent variable was stock price. Meanwhile, independent variables were capital structure which was referred to Debt to Assets Ratio (DAR) and Debt to Equity Ratio (DER), dividend policy which was referred to Dividend Payout Ratio (DPR), and auditor replacement. The research was quantitative. Moreover, the data collection technique used purposive sampling, in which the samples based on criteria given. In line with that, there were 21 LQ-45 companies during 2017-2019 as the sample. In total, there were 61 research sample. The research result concluded that capital structure which was referred to DAR had a positive and significant effect on stock price. On the other hand, capital structure which was referred to DER had a negative and insignificant effect on stock price. In contrast, dividend policy which was referred to DPR had a positive and significant effect on stock price. In addition, auditor replacement did not affect stock price.
Keywords: capital structure, dividend policy, auditor replacement, stock price