PENGARUH PROFITABILITAS, LIKUIDITAS, DAN KEBIJAKAN DIVIDEN TERHADAP HARGA SAHAM PADA PERUSAHAAN FARMASI

Abstract

This research aimed to find out the effect of profitability, liquidity and dividend policy on stock price of
pharmaceutical companies which were listed on Indonesia Stock Exchange (IDX). While, profitability was
measured by Profit Margin (PM), liquidity was measured by Quick Ratio (QR) and dividend policy was
measured by Dividend Payout Ratio (DPR).
The research was quantitative. Moreover, the data collection technique used purposive sampling. In line with,
there were 6 from 9 pharmaceutical companies taken as sample. Furthermore, the data were in form of balance
report and income statement also review of companies' performance . Additionally, the data analysis
technique used multiple linear regression with SPSS 20.
According to hypothesis test, it concluded profitability had insignificant effect on stock price of
pharmaceutical companies. Similar with, dividend policy had insignificant effect on stock price of
pharmaceutical companies. On the other hand, liquidity had significant effect onstock price of pharmaceutical
companies.
Keywords: profitability, liquidity, dividend policy, stock price