PENGARUH KEBIJAKAN MANAJEMEN KEUANGAN DAN KINERJA KEUANGAN TERHADAP HARGA SAHAM

Abstract

This research aimed to examine the effect of financial management policy and financial performance on stock price. While the financial management policy was measured by Debt to Equity Ratio (DER) and Dividend Payout Ratio (DPR), and financial performance was measured by Return On Asset (ROA), Debt to Asset Ratio (DAR), and Current Ratio (CR). Meanwhile, stock price was measured at closing price. The research was quantitative. Moreover, the data collection technique used purposive sampling. In line with that, there were 18 Consumer Good Industry companies which were listed on Indonesia Stock Exchange during 2016-2020 as a sample. In total, there were 90 companies’ samples. The research result concluded that fund decisions (DER) as well as profitability (ROA) had a positive effect on stock price. In contrast, liquidity (CR) had a negative effect on stock price. On the other hand, the dividend policy (DPR) did not affect stock price. Likewise, leverage (DAR) did not affect stock price.