DETERMINANTS OF MANUFACTURING COMPANIES' STOCK PRICE IN THE PRIMARY CONSUMER SECTOR

Dewi Maya Sari
Politeknik Aceh
Indonesia
Mutia Arfiani
Politeknik Aceh
Indonesia
Patuh Mahyunda
Politeknik Aceh
Indonesia

Abstract

This study aims to examine the factors that affect stock price changes using 328 samples of non-cyclical consumer manufacturing companies for the period 2013 to 2020. The factors tested in this study are liquidity, profitability and firm size. The data used is the company's annual financial report data that meets the criteria for determining the sample. Data analysis was performed using multiple linear regression. The results showed that liquidity, profitability and firm size had a positive and significant effect on stock price.

Keywords
Stock Price; Liquidity; Profitability; Firm Size
References

Admojo, H. T. (2015). Analisis laporan keuangan : Pendekatan rasio keuangan. Yogyakarta: CAPS.

Aminah, N., Arifiati, R., & Supriyanto, A. (2016). Pengaruh dividen per share, return on equity, net profit margin, return on investment dan return on asset terhadap harga saham pada perusahaan real estate dan property yang terdaftar di Bursa Efek Indonesia periode tahun 2011-2013. Jurnal Ilmiah Mahasiswa S1 Universitas Pandanaran (Journal of Accounting), 2(2), 1-20.

Ariesa, Y., Sahbana, A., Chuanda, P., Kirana, C. A., Livinda, E. F., & Wijaya, W. (2020). The influence of Indonesian interest rates, inflation, debt to asset ratio and return on asset against the property and real estate sector stock prices on the Indonesia Stock Exchange in 2014-2018. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 3(4), 3359–3375. doi.org:10.33258/birci.v3i4.1370

Arifin, N. F., & Agustami, S. (2016). Pengaruh likuiditas, solvabilitas, profitabilitas, rasio pasar dan ukuran perusahaan (Studi pada perusahaan subsektor perkebunan yang terdaftar di Bursa Efek Indonesia tahun 2010-2014). Jurnal Riset Akuntansi dan Keuangan, 4(3), 1189–1210. doi.org:10.17509/jrak.v4i3.4673

Cahyaningrum, Y. W., & Antikasari, T. W. (2017). Pengaruh earning per share, price to book value, return on asset, dan return on equity terhadap harga saham kektor keuangan. Jurnal Economia, 13(2), 191–200.

Darmawan, A., Widyasmara, M. Y., Rejeki, S., Aris, M. R., & Yasin, R. (2019). Pengaruh likuiditas, profitabilitas, dan ukuran perusahaan terhadap kebijakan dividen dan harga saham (Studi kasus pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia tahun 2013-2017). Derivatif: Jurnal Manajemen, 13(1), 24–33.

Ghozali, I. (2013). Aplikasi analisis multivariate dengan program IBM SPSS 21 up date PLS regresi. Semarang: Badan Penerbit Universitas Diponegoro.

Gursida, H. (2017). The influence of fundamental and macroeconomic analysis on stock price. Jurnal Terapan Manajemen dan Bisnis, 3(2), 222–234.

Handayani, H., Muharam, H., Mawardi, W., & Robiyanto. (2019). Determinants of the stock price volatility in the Indonesian manufacturing sector. International Research Journal of Business Studies, 11(3), 179–193.

Hayati, I., Saragih, D. H., & Siregar, S. (2019). The effect of current ratio, debt to equity ratio and roa on stock prices in sharia based manufacturing companies in Indonesia Stock Exchange. Proceeding International Seminar on Islamic Studies, 1(1), 276–290.

Hung, D. N., Ha, H. T. V., & Binh, D. T. (2018). Impact of accounting information on financial statements to the stock price of the energy enterprises listed on Vietnam’s Stock Market. International Journal of Energy Economics and Policy, 8(2), 1–6.

Husnan, S & Pudjiastuti, E. (2012). Dasar-dasar manajemen keuangan (Edisi keenam). Yogyakarta: UPP STIM YKPN.

Indrayani, A. W., Wijayanti, A., & Samrotun, Y. C. (2020). Pengaruh likuiditas, profitabilitas dan devidend payout ratio terhadap harga saham pada perusahaan makanan dan minuman di Bursa Efek Indonesia periode 2015-2018. Ekonomis: Journal of Economics and Business, 4(1), 216–219. doi.org: 10.33087/ekonomis.v4i1.89

Intariani, W. R., & Suryantini, N. P. S. (2020). The effect of liquidity, profitability and company size on the national private bank stock returns listed on the Indonesia Stock Exchange. American Journal of Humanities and Social Sciences Research, 4(8), 289–295.

Jasman, J., & Kasran, M. (2017). Profitability, earnings per share on stock return with size as moderation. Trikonomika, 16(2), 88–94.

Jayanti, M., & Santoso, B. H. (2019). Analisis pengaruh likuiditas, leverage, profitabilitas, dan rasio pasar terhadap harga saham. Jurnal Ilmu Dan Riset Manajemen, 8(10), 1–17.

Latifah, H. C., & Suryani, A. W. (2020). Pengaruh kebijakan dividen, kebijakan hutang, profitabilitas, dan likuiditas terhadap harga saham. Jurnal Akuntansi Aktual, 7(1), 31–44. doi.org:10.17977/um004v7i12020p31

Mardianti, A., & Dewi, S. R. (2021). Pengaruh likuiditas dan profitabilitas terhadap harga saham dengan kebijakan dividen sebagai moderasi pada perusahaan manufaktur yang terdaftar di BEI pada tahun 2016-2018. Indonesian Journal of Innovation Studies, 16(2021), 6–18.

Martiani, N. L. D. (2018). Pengaruh rasio keuangan terhadap harga saham pada perusahaan manufaktur sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia periode tahun 2013-2016. Jurnal Pendidikan Ekonomi Undiksha, 10(2), 668–678.

Medyawati, H., & Yunanto, M. (2020). Determinant of stock price manufacturing company: Evidence from Indonesia. Journal of Economics and Business, 3(2), 524–535. doi.org:10.31014/aior.1992.03.02.217

Muhammad, T. T., & Rahim, S. (2015). Pengaruh tingkat likuiditas dan profitabilitas terhadap harga saham pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI). Jurnal Akuntansi Aktual, 3(2), 117–126.

Nasarudin, I. Y., Suhendra, & Anggraini, L. F. (2019). Determinant of stock price: Evidence on food and beverage companies in Indonesia. ETIKONOMI, 18(1), 143-154. doi.org:10.15408/etk.v18i1.10987

Novianto, K. P., & Budiyanto. (2020). Pengaruh likuiditas, leverage dan ukuran perusahaan terhadap harga saham perusahaan property dan real estate yang terdaftar di BEI. Jurnal Ilmu Dan Riset Manajemen, 9(6), 1–18.

Octaviani, S., & Komalasari, D. (2017). Pengaruh likuiditas, profitabilitas dan solvabilitas terhadap harga saham (Studi kasus pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia). Jurnal Akuntansi, 3(2), 77–89.

Prayogo, K. H., & Lestari, E. P. (2018). The determinant of stock price at the banking sub-sector company in Indonesia Stock Exchange. International Journal of Trade, Economics and Finance, 9(6), 231–237. doi.org:10.18178/ijtef.2018.9.6.621

Puspitasari, N. M., Suhendro, & Fajri, R. N. (2020). Determinant of stock price of coal mining company listed on BEI 2014-2018. Journal of Business, Management, and Accounting, 2(1), 165–172. Retrieved from: http://e-journal.stie-kusumanegara.ac.id

Saraswati, H. (2020). Dampak pandemi Covid-19 terhadap pasar saham di Indonesia. Jurnal Riset Akuntansi dan Keuangan Dewantara, 3(2), 153–163.

Siagian, A. O., Wijoyo, H., & Cahyono, Y. (2021). The effect of debt to asset ratio, return on equity, and current ratio on stock prices of pharmaceutical companies listed on the Indonesia Stock Exchange 2016-2019 period. Journal of World Conference, 3(2), 310–314. Retrieved from: http://proceedings.worldconference.id.

Syawalina, C. F., & Fahlevi, T. R. H. (2020). Pengaruh likuiditas, profitabilitas dan ukuran perusahaan terhadap harga saham pada perusahaan sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi Muhammadiyah, 10(2), 188–196.

Usman, B., Manurung, A. H., & Hutahayan, B. (2020). Determinant of stock price of Indonesia construction sector. International Journal of Advanced Science and Technology, 29(5), 5866–5874. Retrieved from: https://www.researchgate.net/publication/342040728

Zaman, M. B. (2021). Influence of debt to total asset ratio (DAR), current ratio (CR) and total asset turnover (TATO) on return on asset (ROA) and its impact on stock prices on mining companies on the Indonesia Stock Exchange in 2008-2017. Journal of Industrial Engineering and Management Research, 2(1), 114–132. doi.org:10.7777/jiemar

Information
Cover Image
PDF
177 times PDF : 139 times