PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN, PERTUMBUHAN PENJUALAN, DAN UKURAN PERUSAHAAN TERHADAP HARGA SAHAM

Abstract

This research aimed to examine the effect of profitability (ROE), dividend policy (DPR), sales growth, and firm size (SIZE) on stock prices of mining companies which were listed on Indonesia Stock Exchange (IDX) 2015-2020. Moreover, the research was quantitative with multiple linear regression as the data analysis technique. Furthermore, the data collection technique used a purposive sampling technique. In line with that, there were 9 samples during 6 years. In total, there were 54 samples. The research result concluded that ROE had a positive effect on stock prices. This showed that the higher profitability was, the higher companies’ stock prices would be. Likewise, DPR had a positive effect on stock prices. It showed that the higher companies’ dividend for stakeholders was, the higher companies’ stock prices would be. On the other hand, sales growth did not affect stock prices. This meant that higher sales and business expenses affected the decline of companies’ net profit; in spite of the increased sales growth. Therefore, when the sales growth increased it was not followed by companies’ stock prices. In contrast, SIZE had a positive effect on stock prices. This showed that the higher firm size was, the higher companies’ stock prices would be.
Keywords: profitability, dividend policy, sales growth, firm size, stock price