The Effect Of Earnings Growth, Financial Ratios And Dividends On Stock Prices In Manufacturing Companies Listed On The LQ45 Index For The Period 2020 – 2022

Nelya Arofatin; Salsabila Maulidya Supriadi Bahrim; Viona Eka Putri Mardiono; Maria Yovita R. Pandin

doi:10.55606/bijmt.v4i1.2444

Nelya Arofatin Universitas 17 Agustus 1945 Surabaya
Salsabila Maulidya Supriadi Bahrim Universitas 17 Agustus 1945 Surabaya
Viona Eka Putri Mardiono Universitas 17 Agustus 1945 Surabaya
Maria Yovita R. Pandin Universitas 17 Agustus 1945 Surabaya

DOI: https://doi.org/10.55606/bijmt.v4i1.2444

Abstrak

The purpose of this study is to see the effect of profit growth, financial indicators and dividends on the share price of the manufacturing industry listed on the LQ45 index for the 2020-2022 period. This research uses a quantitative approach and uses the Structural Equation Modeling-Partial Least Squares (SEM-PLS) test tool. The data in this study were obtained from the financial statements of public companies in the manufacturing industry listed on the LQ45 index. Independent variables include earnings growth rate, return on assets (ROA), return on equity (ROE), price to earning ratio (PER), price to book ratio (PBV), and dividends paid by the company. Research shows that financial ratios which include ROA, ROE, PER, and PBV variables have a positive and significant influence on the stock price of a company, besides that although earnings growth has a positive impact on stock prices but is not significant on stock prices, the growth varies greatly, as well as dividends.This helps investors, financial managers, and business decision makers to understand the things that affect the stock price of manufacturing companies in the LQ45 index. If a company wants to maintain or increase its share value in a competitive market, it should consider its earnings history, financial metrics, and dividend policy.

Referensi

Abas, H. K. (2020). Analysis of Profit Growth of Manufacturing Companies Listed on the Indonesia Stock Exchange (IDX) for 2013-2017 Period. International Journal of Applied Business and International Management (IJABIM), 72–78.

Andriani et al. (2020). Pengaruh Faktor Ekonomi Makro dan Pertumbuhan Laba Terhadap Harga Saham Perusahaan Sub Sektor Farmasi Yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2014-2020. 56.

Bodie, Z. K. (2014). Investment. McgrawHill Education.

Ermiati et al. (2019). Pengaruh Kebijakan Dividen Terhadap Harga Saham Perusahaan Sub Sektor Otomotif dan Komponen Yang Terdaftar di Bursa Efek Indonesia Periode 2008 - 2017. Vol 8 No 2.

Erri, D. d. (2018). “Kebijakan Dividen Terhadap Harga Saham PT Unilever Indonesia Tbk Yang Terdaftar di Bursa Efek Indonesia”. Jurnal Sekretari dan Manajemen Vol.2 No.2.

Fahmi, I. (2017). Manajemen Sumber Daya Manusia Teori dan Aplikasi. Bandung: CV. Alfabeta.

Ghozali et al. (2017). Aplikasi Analisis Multivariate dengan Program SPSS. Semarang: Badan Penerbit UNDIP.

Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS. Semarang: Badan Penerbit Universitas Diponegoro.

Gulo, W. (2002). Metode Penelitian. Jakarta: PT. Grasindo.

Hair et al. (2017). A Primer on Partial Least Squares Structural Equa- tion Modeling (PLS-SEM). Los Angeles: SAGE Publications.

Hakim, M. Z. (2020). Analysis of Profit Growth, Profitability, Capital Structure, Liquidity and Company Size of Profit Quality. Jurnal Akademi Akuntansi, 3(1), 12–35.

Hery. (2018). Analisis Laporan Keuangan (Integrated; Adipramono, Ed.). Jakarta: PT Grasindo.

Huang, H.-C. L.-H.-L.-H. (2022). Do Local Fiscal Expenditures Promote the Growth of Profit-Seeking Enterprise Numbers in Neighboring Areas? Economies, 10(2), 34.

Jogiyanto. (2008). Dasar-Dasar Ekonometrika. Yogyakarta: BPFE.

Ndubuisi, K. J. (2018). Effect of financial leverage on profit growth of quoted non-financial firms in Nigeria. Journal of Financial Management of Property and Construction.

Permatasari et al. (2018). Pengaruh Rasio Keuangan Terhadao Harga Saham. Jurnal Riset Bisnis dan Investasi, 4 No 3.

Priantono, S. J. (2018). Pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), Net Profit Margin (NPM) dan Return on Investment (ROI) Terhadap Harga Saham Pada Perusahaan Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2013-2016. . JURNAL ECOBUSS, 6(1), 63-68.

Purwaningtyas, F. (2019). Pengaruh Likuiditas dan Protabilitas Terhadap Harga Saham Perusahaan Manufaktur ( Studi Kasus Pada Perusahaan Food And Beverage Yang Terdaftar di Bursa Efek Indonesia.

Sugiyono. (2018). Metode Penelitian Kombinasi (Mixed Methods). Bandung: CV Alfabeta.

Surya, Y. Y. (2016). ”Analisis Pengaruh Rasio Keuangan, Pertumbuhan Penjualan dan Dividen Terhadap Perubahan Harga Saham Perusahaan Consumer Goods (Studi Empiris pada Perusahaan Layanan Telekomunikasi di Bursa Efek Indonesia Tahun 2011-2015)”. Jurnal Kajian Bisnis Vol. 24 No. 2.

Suryani et al. (2015). Metode Riset Kuantitatif Teori dan AplikasI Pada Penelitian Bidang Manajemen dan Ekonomi Islam. Jakarta: Kencana Prenada Media Group.

Sutrisno. (2013). Manajemen Keuangan Teori Konsep & Aplikasi. Yogyakarta: Ekonisia.

Takarini, N., & Hendrarini, H. (n.d.). Rasio Keuangan dan Pengaruhnya Terhadap Harga Saham Perusahaan Yang Terdaftar Di Jakarta Islamic Index. Journal Business and Banking.

Tandelilin, E. (2017). Pasar Modal Manajemen Portfolio & Investasi (G. Sudibyo, Ed.). Yogyakarta: PT Kanisius.

Warianto, P. &. (2014). Pengaruh ukuran perusahaan, struktur modal, likuiditas dan investment opportunity set (IOS) terhadap kualitas laba pada perusahaan manufaktur yang terdaftar di BEI. Modus, 19–32.

Widoatmojo, P. (2005). Manajemen Keuangan Perusahaan: Teori dan Praktek. Jakarta: Erlangga.