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All Journal Jurnal Akuntansi dan Keuangan
Sharon Michelle Sugiharto
Universitas Singaperbangsa Karawang
Economics, Econometrics & Finance

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PENGARUH RASIO PROFITABILITAS DAN SOLVABILITAS TERHADAP HARGA SAHAM SEKTOR MANUFAKTUR FMCG DI BEI TAHUN 2014-2023 Sharon Michelle Sugiharto; Nanu Hasanuh
AKUA: Jurnal Akuntansi dan Keuangan Vol. 5 No. 4 (2026): Oktober 2026
Publisher : Yayasan Pendidikan Penelitian Pengabdian Algero

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54259/akua.v5i4.8956

Abstract

This study investigates the association between stock prices with profitability and solvency ratios in Fast Moving Consumer Goods (FMCG) companies registered on the Indonesia Stock Exchange by analyzing the influence of these factors both partially and simultaneously. Employing a quantitative approach, Return on Equity (ROE) and the Debt to Equity Ratio (DER) were designated as independent variables, while stock price as the dependent variable. A selection process resulted 6 companies, providing a total of 60 observations. Data analysis employed Panel Data Regression, utilizing the Chow Test, Hausman Test, and Lagrange Multiplier Test to determine the most appropriate model among the Common Effect, Fixed Effect, and Random Effect models. Subsequently, t-tests were used to analyze the influence of individual variables, while F-tests evaluated their simultaneous impact. The study findings reveal a significant positive effect of ROE, whereas DER shows a significant negative effect. Furthermore, ROE and DER jointly exert a significant influence on stock prices, as indicated by a probability value of 0.000034 < 0.05. The model declares 27,82% of the fluctuations in stock prices, and 72,18% of the factors surrounding those underlying variables are also affected. These outcome encourage that corporate profitability and debt financing decisions are key factors in explaining stock price fluctuations among FMCG companies.
Co-Authors Nanu Hasanuh