PENGARUH KEBIJAKAN INVESTASI, KEBIJAKAN PENDANAAN, KEBIJAKAN DIVIDEN DAN SUKU BUNGA TERHADAP HARGA SAHAM

Abstract

This research aimed to examine and analyze the effect of investment policy, funding policy, dividend policy, and interest rate on the stock price of LQ-45 companies. The research was quantitative. Moreover, the data were secondary. Furthermore. The population was LQ-45 companies which were listed on Indonesia Stock Exchange during 2015-2019. Additionally, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 24 companies as the sample during 5 years. In total, there were 120 observation data. In addition, the data analysis technique used multiple linear analysis.The research result concluded that investment policy (Capital F.xpenditure to Book Value of Asset), funding policy (Debt to Equity Ratio), dividend policy (Dividend Payout Ratio) had a positive effect on the stock price of LQ-45 companies during 201 5-2019. On the other hand, interest rate did not affect the stock price of LQ-45 companies during 2015-2019.
Keywords: stock price, investment policy, funding policy, dividend policy, interest rare