Prawira Aditya Dzulfadeln
STIE Tri Dharma Niusantara

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Pengaruh Dividen Per Share Dan Earning Per Share Terhadap Harga Saham Pada PT. Unilever Indonesia, Tbk Prawira Aditya Dzulfadeln
Jurnal Online Manajemen ELPEI Vol 6 No 1 (2026)
Publisher : STIM-LPI Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58191/jomel.v6i1.495

Abstract

This study aims to determine the influence of Dividend per Share (DPS) and Earnings per Share (EPS) on stock prices at PT Unilever Indonesia Tbk. The research uses quantitative data derived from secondary sources. The analytical methods applied for the 2023 period include multiple linear regression analysis, coefficient of determination, correlation coefficient, t-test, and F-test. The results of the multiple linear regression analysis produce the equation: Y = 2,490.13 + 10.95X₁ + 47.86X₂ The correlation coefficient (R) is 0.714, indicating a strong relationship between the independent variables and the stock price. The coefficient of determination (R²) is 0.510, meaning that 51% of the variation in stock prices can be explained by Dividend per Share and Earnings per Share, while the remaining 49% is influenced by other factors outside the model. Simultaneously, Dividend per Share and Earnings per Share do not have a significant effect on stock prices. Partially, Dividend per Share does not have a positive and significant effect on stock prices, whereas Earnings per Share has a positive and significant effect on stock prices.
Pengaruh Dividen Per Share dan Earning Per Share Terhadap Harga Saham Pada PT. Midi Utama Indonesia, tbk Periode 2014–2025 Prawira Aditya Dzulfadeln
Jurnal Online Manajemen ELPEI Vol 6 No 2 (2026)
Publisher : STIM-LPI Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58191/jomel.v6i2.549

Abstract

This study aims to determine the effect of Dividend Per Share (DPS) and Earnings Per Share (EPS) on the stock price of PT Midi Utama Indonesia Tbk during the 2014–2025 period. This research employed a quantitative approach using secondary data obtained from the company's annual and financial reports, as well as stock price data of PT Midi Utama Indonesia Tbk. The analytical techniques used included descriptive analysis, multiple linear regression, correlation coefficient, coefficient of determination, t-test, and F-test. The results showed the multiple linear regression equation Y = -26.495 - 32.307X1 + 35.967X2. The coefficient of determination (R²) was 0.883 or 88.34%, while the correlation coefficient (R) was 0.940, indicating a very strong relationship between Dividend Per Share and Earnings Per Share and stock prices. The F-test results showed an F-value of 34.100, which was greater than the F-table value of 4.256, indicating that Dividend Per Share and Earnings Per Share simultaneously had a significant effect on stock prices. Partially, Dividend Per Share obtained a t-value of -1.882 with a significance level of 0.093, indicating that it did not have a significant effect on stock prices. Meanwhile, Earnings Per Share obtained a t-value of 4.192 with a significance level of 0.002, indicating a positive and significant effect on stock prices. Therefore, during the research period, Earnings Per Share was the more dominant variable in explaining changes in the stock price of PT Midi Utama Indonesia Tbk.