PENGARUH KEBIJAKAN MANAJEMEN KEUANGAN DAN PROFITABILITAS TERHADAP HARGA SAHAM PADA INDEKS LQ 45

Abstract

LQ-45 is one of the companies which has the most liquid stock price at capital market. This fact certainly influences some investors to invest their money. While, this research aimed toexamamine the effects of financial management policy and financial permonce on the stock price which was included on LQ-45 index of Indonesia Stock Exchange 2014-2018. The research was quantitative. Moreover, the population was 66 companies which was included on LQ-45 index. Furthermore, the data collaction technique used purposive sampling. In line with, there were 16 companies as sample. In addition, the data analysis technique used multiple linier regression. The research result concluded the investment decision had positive on the stock price. This meant, the increase of government investment showed some positive signal for infestor in the future. Likewise, the funding decision had negative on the stock price. In other words, as the company was able to fulfill its obligation; the firm value would be increase since it was reflected from the stock price. It meant, LQ-45 was still considered as the main interest of some investors although it did not share some dividends. On the other hand, profitability had positive effecton the stock price. In other words, the more profits the company had, the higher the company’s stock price would be.
Keywords: Investment Decision, Funding Decision, Dividend Policy, Profitability.