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All Journal JURNAL ECONOMIA Jurnal Ilmiah Econosains SINERGI: Jurnal Ilmiah Ilmu Manajemen Owner : Riset dan Jurnal Akuntansi JURNAL VISIONIDA JIMFE (Jurnal Ilmiah Manajemen Fakultas Ekonomi) JURNAL NUSANTARA APLIKASI MANAJEMEN BISNIS Journal of Humanities and Social Studies MAGMA : JURNAL MAGISTER MANAJEMEN Jurnal Ilmiah Manajemen Kesatuan Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Jurnal Terapan Manajemen dan Bisnis International Journal of Research in Community Services International Journal of Economy, Education and Entrepreneurship (IJE3) Jurnal Abdimas Ekonomi dan Bisnis Center of Knowledge Journal Of World Science International Journal of Multidisciplinary Research and Literature (IJOMRAL) Utsaha: Journal of Entrepreneurship Jurnal Abdi Masyarakat Multidisiplin International Journal Administration, Business & Organization Al-Ijtima: Jurnal Pengabdian Kepada Masyarakat Journal of Business, Social and Technology The Es Economics and Entrepreneurship The Es Accounting and Finance Jurnal Kabar Masyarakat Jurnal Sosial, Politik dan Budaya (SOSPOLBUD) Prosiding Amal Insani Foundation IIJSE International Journal of Management and Business Applied International Journal of Economics, Accounting, and Management
Hari Gursida
Sekolah Pascasarjana, Universitas Pakuan Bogor
Religion Arts Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Physics Social Sciences Other

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Liquidity, Solvency, and Asset Growth Effects on Stock Prices: The Mediating Role of Profitability in Transportation and Logistics Companies Listed on the Indonesia Stock Exchange (2019–2024) Lisdiana, Vera; Hari Gursida; Yohanes Indrayono
International Journal Administration, Business & Organization Vol 7 No 1 (2026): IJABO
Publisher : Asosiasi Ahli Administrasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61242/ijabo.26.709

Abstract

This study investigates the effects of liquidity, solvency, and asset growth on stock prices, both directly and indirectly through profitability as a mediating variable, in transportation sector companies listed on the Indonesia Stock Exchange during 2019–2024. Liquidity is measured using the Current Ratio (CR), solvency using the Debt-to-Equity Ratio (DER), asset growth through annual asset growth, profitability using Return on Assets (ROA), and stock prices based on closing prices. A quantitative approach employing panel data regression analysis is applied, while the mediating role of profitability is examined using the Sobel test. The findings indicate that liquidity and asset growth have positive and significant effects on stock prices, whereas solvency has a negative effect. Liquidity and asset growth also positively influence profitability, while solvency negatively affects profitability. Profitability significantly increases stock prices and mediates the relationships between liquidity and stock prices as well as asset growth and stock prices. However, profitability does not mediate the effect of solvency on stock prices. These results emphasize the importance of effective liquidity management and asset utilization in enhancing profitability and firm market value, while excessive leverage may weaken investor confidence.
The Effect of Current Ratio, Return of Equity, and Debt Equity Ratio on Stock Prices with Dividend Payout Ratio as a Moderating Variable Nurdyane, Novalida; Yohanes Indrayono; Hari Gursida
International Journal Administration, Business & Organization Vol 7 No 1 (2026): IJABO
Publisher : Asosiasi Ahli Administrasi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61242/ijabo.26.727

Abstract

This study aims to analyze the effect of Current Ratio, Return On Equity Debt to Equity Ratio, and Dividend Payout Ratio on Stock Prices in food and staple food retail subsector companies listed on the Indonesia Stock Exchange in the period 2019-2023. By using Purposive Sampling, 12 companies were selected as samples based on certain criteria and data analysis using multiple linear regression. The results show that Current Ratio, Return On Equity, Debt to Equity Ratio and Dividend Payout Ratio are negatively related to stock prices. Current Ratio and Debt to Equity Ratio are negatively related to Dividend Payout Ratio, while Return On Equity is positively related to Dividend Payout Ratio. The moderating variables between the Current Ratio, Return on Equity, and Debt to Equity Ratio and the Dividend Payout Ratio are positively related to Stock Price. This study provides new empirical insights into capital structure and profitability, particularly in the food and staple food retail subsector. In this regard, retail company management needs to maintain a balance between profitability and leverage, and utilize dividend policy as a strategic instrument to strengthen the company's positive signal to investors.
Analysis of the Influence of Severity, Firm Size, Free Asset, and Asset Retrenchment on Corporate Turnaround in the Property & Real Estate Sector Listed on the Indonesia Stock Exchange for the Period 2020-2024 Wichaksono, Adhi; Gursida, Hari; Indrayono, Yohanes
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 2 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v9i2.9792

Abstract

This study aims to analyze the effect of severity, firm size, free assets, and asset retrenchment on the success of corporate turnaround in Indonesian property and real estate companies experiencing negative return on assets (ROA). The study uses a quantitative approach with binary logistic regression on 21 companies selected through purposive sampling in the 2020–2024 period. Corporate turnaround is identified based on the company's ability to continuously emerge from negative ROA conditions. The test results show that severity has a negative effect on the probability of corporate turnaround success, although it is not statistically significant. Meanwhile, firm size, free assets, and asset retrenchment also had no significant effect on the success of performance recovery. These findings indicate that conventional financial indicators and ratios are not yet able to adequately explain the dynamics of corporate turnaround in the property and real estate sector, which is asset-intensive, illiquid, and highly influenced by economic cycles. This study confirms the gap between the theoretical framework based on financial indicators and the empirical reality of the property sector, and emphasizes the importance of a multidimensional approach that incorporates non-financial factors in the analysis of corporate turnaround.
Co-Authors Ade Ratna Sari, Ade Ratna Agus Setyo Pranowo Aminudin, Aminudin Anggorodi, Riza Aditriawan Darwis , Valeriana Endi Suyatno Enok Tuti Alawiah Erna Herlina Firman Ferdian Gandhy, Abel Hadi, Reza Khairul Hafidz Hanafiah Hammad Hammad hammad, hammad Hamzah, Zeze Zakaria Hanan, Sufrin Hardiyanto, Arief Tri Hendro Sasongko herdiyana, Herdiyana Herdiyana, Herdiyana Herlin Widasiwi Setianingrum ibram pinondang dalimunthe, ibram pinondang Indra Cahya, Kusuma Indrayono , Yohanes Indrayono, Yohanes Isnurrini Hidayat Susilowati Isnurrini hidayat, Isnurrini Karina Apriyani Lakonardi Nurraditya Lisdiana, Vera Lutviani, Metya Mailini, Dini Maman Suryaman Marsifa Matdio Siahaan Maulana, Dede Hikmat Maulana, Nurnita Hayatun Moeins, Anoesyirwan Muharam, Hari Nancy Yusnita Novalida Nurdyane Pasaribu, Veta Lidya Delimah Rahman Hakim, Dani Ramon Hurdawaty Riza Aditriawan Anggorodi Rochman Marota ROOSGANDA ELIZABETH Rukmana, Dwita Rusnaeni, N Salmah Saputri, Kiki Intan Seong SU, Chih Shabrina, Hafiyya Siahaan, Matdio Siddik, Ibnu Sri Setiawati, Sri Sumarno . Sunarta, Ketut Sutarto, Bambang Suyatno, Endi Umayi Ananda, Woro Warizal Wichaksono, Adhi Widasiwi, Herlin Widodo Sunaryo Wihartika, Doni Wiwik Widiyanti, Wiwik Yandi Asmana Yayan Hadiyat YOHANES INDRAYONO yusnita, nancy Zaini, Oktori Kiswati