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All Journal Jurnal Paradigma Akuntansi
Gusthama
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Economics, Econometrics & Finance Social Sciences

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ANALISIS FAKTOR FUNDAMENTAL TERHADAP HARGA SAHAM PADA PERUSAHAAN INDEKS LQ45 Gusthama; Susanto Salim
Jurnal Paradigma Akuntansi Vol. 8 No. 4 (2026): Oktober 2026
Publisher : Fakultas Ekonomi, Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/jpa.v8i4.39080

Abstract

This study aims to examine the effect of Return on Equity (ROE), Firm Value as measured by Tobin’s Q, and Debt to Equity Ratio (DER) on Stock Prices of companies included in the LQ45 Index listed on the Indonesia Stock Exchange during the 2021–2025 period. This research employs a quantitative approach with a causal research design using secondary data obtained from annual financial statements published by the Indonesia Stock Exchange and stock closing prices obtained from Yahoo Finance. The sampling technique used was purposive sampling, resulting in 27 companies with a total of 135 panel observations. Data were analyzed using panel data regression with EViews 12 software. Based on model selection tests, the Random Effect Model (REM) was selected as the most appropriate model. The findings indicate that Return on Equity (ROE) has a positive and significant effect on stock prices. Meanwhile, Firm Value (Tobin’s Q) and Debt to Equity Ratio (DER) have no significant effect on stock prices. Simultaneously, the three independent variables significantly affect stock prices of LQ45 companies.
Co-Authors Susanto Salim