PENGARUH PROFITABILITAS DAN LEVERAGE TERHADAP HARGA SAHAM DIMEDIASI KEBIJAKAN DIVIDEN PADA PERUSAHAAN TERAFILIASI ISRAEL YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

The ongoing conflict between Israel and Palestine has sparked global reactions, including a boycott movement against products of Israeli-affiliated companies. This research examines the effect of profitability and leverage on the stock price of Israeli-affiliated companies during 2019-2023, with dividend policy as a mediating variable. The research applies quantitatively. Furthermore, the data collection technique used was purposive sampling, i.e., a sample selection based on certain criteria. In line with that, 8 companies were taken as the samples. Moreover, the data analysis technique used was Partial Least Square (PLS) with SmartPLS 3.0 as the calculation instrument. The result indicates that profitability that is measured by Net Profit Margin (NPM) has positive but an insignificant effects on the dividend policy or stock price. On the other hand, leverage that is measured by Debt to Equity Ratio (DER) has a positive and significant effect on the dividend policy or stock price. In contrast, dividend policy which is measured by Dividend Payout Ratio (DPR) has a positive but insignificant effect on the stock price and also does not mediate the effect of profitability and leverage on the stock price of Israeli-affiliated companies listed on the Indonesia Stock Exchange during 2019-2023.