Sthevy Angelina Putri
Universitas Nusantara PGRI Kediri

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Pengaruh Inflasi, Suku Bunga, Kurs, ROA, dan DER terhadap Harga Saham pada Perusahaan Perbankan Tahun 2021–2024 di BEI Sthevy Angelina Putri; Sigit Puji Winarko; Andy Kurniawan
Wawasan : Jurnal Ilmu Manajemen, Ekonomi dan Kewirausahaan Vol. 4 No. 4 (2026): Oktober: Wawasan : Jurnal Ilmu Manajemen, Ekonomi dan Kewirausahan
Publisher : Fakultas Teknik Universitas Maritim AMNI Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58192/wawasan.v4i4.5176

Abstract

This study examines the effects of inflation, interest rates, the rupiah exchange rate, Return on Assets (ROA), and Debt-to-Equity Ratio (DER) on the stock prices of banking companies listed on the Indonesia Stock Exchange during the 2021–2024 period. An associative quantitative approach was employed using a population of 48 banking companies, with 34 companies selected through purposive sampling. Secondary data from annual financial reports and sustainability reports were analyzed using descriptive statistics, classical assumption tests, multiple linear regression, hypothesis testing, and the coefficient of determination. The results indicate that inflation, interest rates, and the rupiah exchange rate do not have a significant partial effect on stock prices, with significance values of 0.802, 0.623, and 0.867, respectively (p > 0.05). In contrast, ROA and DER have significant partial effects on stock prices, with significance values of 0.000 and 0.012 (p < 0.05). Simultaneously, inflation, interest rates, the rupiah exchange rate, ROA, and DER significantly influence stock prices, as indicated by an F-value of 9.201, exceeding the F-table value of 2.28, with a significance level of 0.000 (p < 0.05). These findings suggest that financial performance indicators play a more important role than macroeconomic variables in explaining stock price movements in the banking sector.