Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
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This Author published in this journals
All Journal Al-Kharaj: Journal of Islamic Economic and Business Indonesia Auditing Research Journal
Ni Made Suwitri Parwati
Universitas Tadulako, Indonesia
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media

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The Influence of Market Value and Leverage on IDX Manufacturing Share Prices 2019-2023 Maulidin T. Semma; Ni Made Suwitri Parwati; Andi Chairil Furqan
Al-Kharaj: Journal of Islamic Economic and Business Vol. 8 No. 2 (2026): All articles in this issue include authors from 3 countries of origin (Indonesi
Publisher : LP2M IAIN Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24256/kharaj.v8i2.10302

Abstract

This study aims to examine the effect of market value and leverage on stock prices of manufacturing companies listed on the Indonesia Stock Exchange during the 2019–2023 period. Market value is proxied by Earnings Per Share (EPS), while leverage is measured using the Debt to Equity Ratio (DER). This research employs a quantitative approach with a causal design and utilizes variance-based Structural Equation Modeling (SEM) through WarpPLS 7.0. The population consists of 219 manufacturing companies, with a sample of 74 firms selected using purposive sampling. The data used are secondary data derived from annual financial statements and year-end closing stock prices. The results indicate that market value, as measured by EPS, has a positive and significant effect on stock prices. This finding suggests that higher profitability per share increases investor interest, thereby driving stock price growth. In contrast, leverage, as proxied by DER, shows a positive but statistically insignificant effect on stock prices. This implies that the level of debt usage is not a primary determinant of stock price movements in manufacturing firms. This study highlights that investors tend to prioritize profitability signals over capital structure in making investment decisions. The findings are expected to provide insights for investors and corporate management in understanding fundamental factors influencing stock prices.
Analysis of financial ratios as determinants of stock price changes Alisa Amelia; Muhammad Ansar; Ni Made Suwitri Parwati; Ernawaty Usman
Indonesia Auditing Research Journal Vol. 15 No. 2 (2026): June: Auditing, Finance, IT Plan, IT Governance, Risk
Publisher : Institute of Accounting Research and Novation (IARN)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/arj.v15i2.737

Abstract

Focusing on banking companies listed on the IDX from 2021 to 2025, this study aims to analyze the impact of the LDR, NPL, NIM, and CAR on their stock prices. A panel data regression model and a quantitative methodology are used in this investigation. 41 businesses that satisfied the requirements during the study period were chosen using the purposive sample technique; as a result, the dataset had 205 data points. The findings show that whereas CAR significantly and favorably affects stock prices, LDR, NPL, and NIM have no influence. The variables examined in this study were restricted to LDR, NPL, NIM, and CAR, and cannot yet be applied to the whole banking sector, among other constraints. In order to present a more complete picture, future study is urged to incorporate more factors and prolong the observation duration.
Co-Authors Alisa Amelia Andi Chairil Furqan Ernawaty Usman Maulidin T. Semma Muhammad Ansar