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Muhammad Daffa Martiza Prasetyo
Muhammadiyah University of Sidoarjo, Indonesia

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CAPITAL CITY OF NUSANTARA (IKN): POSITIVE OR NEGATIVE SIGNAL? Muhammad Daffa Martiza Prasetyo; Herlinda Maya Kumalasari; Ika Oktaviyanti
International Journal of Economic Integration and Regional Competitiveness Vol. 2 No. 11 (2025): International Journal of Economic Integration and Regional Competitiveness
Publisher : Antis Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61796/ijeirc.v2i11.414

Abstract

Objective: The development of Indonesia’s new capital city (IKN) in East Kalimantan presents significant implications for companies involved in the project, especially those listed on the Indonesia Stock Exchange (IDX). This study aims to examine the effect of Return on Assets (ROA), Debt to Equity Ratio (DER), and trading volume on stock prices of contractor companies engaged in the IKN project. Method: A quantitative method using multiple linear regression was employed on secondary data from six selected companies during Q1 2022–Q3 2024. Results: The results indicate that ROA has a significant positive effect, DER has a significant negative effect, while trading volume has no significant effect on stock prices. Novelty: These findings highlight that profitability and capital structure are key determinants of stock price movements in the context of national-scale infrastructure projects.
Co-Authors Herlinda Maya Kumalasari Ika Oktaviyanti