PENGARUH PROFITABILITAS, STRUKTUR MODAL, DAN FAKTOR EKONOMI MAKRO TERHADAP HARGA SAHAM

Abstract

This research aimed to determine the effect of profitability, capital structure, and macroeconomic factors on the stock price. The population of this research used companies in Food and Beverage sectors listed on IDX in the 2015-2019 periods. The research’s statistical method used to examine the research hypothesis by multiple regressions analysis. This research showed that profitability, which proxy with Return On Assets (ROA), affected the stock price. This showed that the higher the profit obtained by the company was able to increase the stock price. Capital structure proxy with Debt to Equity Ratio (DER) did not affect the stock price. It showed that the Debt to Equity Ratio was not one factor that investors should pay attention to in making decisions. The exchange rate did not affect the stock price, and it showed that the amount of import volume or export which the company conducted did not affect the stock price. Moreover, the interest rate did not affect the stock price; it showed that the interest rate increase did not significantly affect the stock price. This showed that the company could survive in every condition; therefore, the stock price was relatively stable, and inflation did not affect the stock price.
Keyword: return on assets, debt to equity ratio, macroeconomic factors and stock price