PENGARUH VARIABEL FUNDAMENTAL TERHADAP HARGA SAHAM PERUSAHAAN INDEKS LQ45

Abstract

This research aimed to test the effect of profitability ratio, liquidity ratio, and solvability ratio on the stock price. The research variable was proxy with Net Profit Margin (NPM), Current Ratio (CR), and Debt to Equity Ratio (DER).The research used a quantitative approach with causal comparatives. Furthermore, the research sample used purposive sampling i.e., a sample selection with determining criteria, there were 63 samples from 21 LQ45 index companies listed on Indonesia Stock Exchange in the 2018-2020 periods. Moreover, the data analysis technique of this research used multiple linear regressions analysis techniques.The research result showed that the profitability ratio had significantly positive effects on stock price growth. It meant that the fluctuation of the profitability ratio affected the company’s stock price positively. It showed that a high profitability ratio indicated the company could generate a net profit with a high percentage of operating income which could attract investors to invest their capital. The liquidity ratio had negatively affected the stock price. These showed that the company lacked the capital to pay its debt. The solvability ratio had negatively affected the stock price. The lower the DER meant the smaller the capital used for a companys' operation so that the risk borne by investors would also be smaller and would be able to increase stock prices.
Keywords: probability ratio, liquidity ratio, stock price