ANALISIS PENGARUH FAKTOR INTERNAL DAN EKSTERNAL TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research aimed to examine the effect of internal and external factor on stock price. While, funding decision was measured by the debt to equity ratio, investment decision was measured by ratio capital expenditure to book value of asset, and dividend policy was measured by dividend payout ratio. Meanwhile, macro economy was measured by exchange rate, inflation and interest rate. The research was quantitative with causal-comparative as its approach. Moreover, the data collection technique used purposive sampling and there were 140 samples from 28 manufacturing companies which were listed on the Indonesia Stock Exchange during 2015-2019. In addition, the data analysis technique used multiple linier regression with SPSS 26. The research result concluded debt to equity ratio, dividend payout ratio, exchange rate had positive and significant effect on stock price, interest rate had negative and significant effect on stock price. In contrast, ratio capital expenditure to book value of asset and inflation had insignificant effect on stock price. The result of the research shows that simultaneously debt to equity ratio, ratio capital expenditure to book value of asset, dividend payout ratio, exchange rate, inflation and interest rate give significant influence to the stock price.
Keyword: internal factor, external factor, stock price