PENGARUH PROFITABILITAS, KEBIJAKAN DIVIDEN, DAN PERTUMBUHAN PENJUALAN TERHADAP HARGA SAHAM PERUSAHAAN FARMASI DI BEI

Abstract

This research aimed to examine the effect of profitability, dividend policy, and sales growth on stock price of pharmaceutical companies which were listed on Indonesia Stock Exchange (IDX) during 2013-2018 While, profitability was measured by Return On Equity, Dividend policy was measured Dividen Payout Ratio, and Sales Growth wa measured by sales growth. Meanwhile, stock price used closing price. Moreover, the population was 6 pharmaceutical companies and all of them were analyzed. Furtemore, the data analysis technique used multiple linier regression with SPSS (Statistical Product and service solution) 20. The research result concluded profitabily had positive but insignificant effect on stock price. Likewise. Sales growth had positive but insignificant effect on stock price. On the other hand, dividend policy had positive but insignificant effect on stock price. Whereas, the remaining 27.1% were influenced by other variables outside the research. In brief, among those three variables, dividend policy had dominant effect on stock price of pharmaceutical companies.
Keywords : profitability, dividend policy, sales growth, stock price