PENGARUH PROFITABILITAS, LIKUIDITAS, DAN KEBIJAKAN DIVIDEN TERHADAP HARGA SAHAM

Abstract

This research aimed the effect of profitability which was measured by Return On Asset, liquidity which measured by Current Ratio, and dividend policy which was measured by Dividend Payout Ratio; on the shares price of manufacturing companies which were listed on Indonesia Stock Exchange. The research was quantitative. While, the population was manufacturing companies which were listed on Indonesia Stock Exchange. Moreover, the data collection technique used purposive sampling, in which the sample was taken based on considered criteria. In line with, there were 11 samples from 151 manufacturing companies which were listed on Indonesia Stock Exchange 2015-2018. Furthemore, the data analysis technique used multiple linier regression with SPSS. The research result concluded profitability, which was measured by Return On Asset had negatif and significant effect on the shares price. Meanwhile, the liquidity which was masured by Current Ratio had negatif but insignificant effect on the shares price. On the other hand, the dividend policy which was measured by Dividend Payout Ratio had positive and significant effect on the shares price.
Keywords: profitability, liquidity, dividend policy,shares price.