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PENGARUH STRUKTUR MODAL (DER) DAN KEBIJAKAN DIVIDEN (DPR)TERHADAP NILAI PERUSAHAAN (PER) PADA PT UNILEVER INDONESIA TBK PERIODE 2013-2022 Wildan Fadhl; Adji Widodo
Jurnal Sinergi Manajemen Vol 2 No 1 (2025): Jurnal SINERGI Manajemen
Publisher : YBAMB

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70285/a4aaxg54

Abstract

Penelitian ini bertujuan untuk mengetahui apakah terdapat pengaruh Struktur Modal (Debt to Equity Ratio) dan Kebijakan Dividen (Dividen Payout Ratio) Terhadap Nilai Perusahaan (Price Earning Ratio) pada PT Unilever Indonesia Tbk Sektor Industri Barang Konsumsi yang terdaftar di Bursa Efek Indonesia (BEI) periode 2013-2022. Metode yang digunakan dalam penelitian ini adalah metode deskriptif dengan pendekatan kuantitatif. data yang digunakan adalah data sekunder berupa laporan keuangan tahunan pada PT Unilever Indonesia Tbk periode 2013-2022 yang terdaftar di Bursa Efek Indonesia. Data tersebut di uji dengan menggunakan program aplikasi Statistical Package for the Social Sciens (SPSS) versi 26.0. Analisis data yang digunakan adalah uji statistik deskriptif, uji asumsi klasik, analisis regresi, koefisien determinasi, uji t, dan uji F. Berdasarkan hasil pengujian secara parsial bahwa Struktur modal (Debt to Equity Ratio) tidak berpengaruh signifikan terhadap Nilai Perusahaan (Price Earning Ratio) dimana t hitung sebesar -0,962 < t tabel 2,3646 dengan nilai signifikansi 0,368 > 0,05 dan secara parsial Kebijakan Dividen (Dividen payout Ratio) tidak berpengaruh signifikan terhadap Nilai Perusahaan (Price Earning Ratio) dimana t hitung sebesar 0,435 < t tabel 2,3646 dengan nilai signifikansi 0,677 > 0,05. Sedangkan secara simultan Struktur Modal (Debt to Equity Ratio) dan Kebijakan Dividen (Dividen Payout Ratio) tidak berpengaru signifikan terhadap Nilai Perusahaan (Price Earning Ratio) dimana F hitung sebesar 0,485 < F tabel 4,74 dengan nilai signifikansi sebesar 0,635 > 0,05. Kemudian diperoleh nilai R Square sebesar 0,122 variabel Struktur Modal (Debt to Equity Ratio), Kebijakan Dividen (Dividen Payout Ratio) mampu menjelaskan variabel Nilai Perusahaan (Price Earning Ratio) sebesar 12,2%, sedangkan sisanya 87,8% dipengaruhi oleh faktor lain yang tidak diteli dalam penelitian.   Kata Kunci: Struktur Modal, Kebijakan Dividen, dan Nilai Perusahaan.
PENGARUH FAKTOR-FAKTOR INVESTASI TERHADAP HARGA SAHAM PT ASURANSI MULTI ARTHA GUNA TBK ( PERIODE 2015-2024) Siti Nabila Siti Nabila; Adji Widodo
JURNAL RUMPUN MANAJEMEN DAN EKONOMI Vol. 3 No. 3 (2026): Mei
Publisher : CV. KAMPUS AKADEMIK PUBLISHING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jrme.v3i3.10616

Abstract

Abstract. This study aims to analyze the effect of Return on Assets (ROA) and Debt to Equity Ratio (DER) on stock prices of companies observed during the period 2015–2024. This research is motivated by the importance of financial performance in reflecting a company’s ability to generate profits and manage its capital structure, which are commonly used by investors in making investment decisions. However, stock price movements do not always align with changes in financial ratios, making further empirical investigation necessary. This study employs a quantitative approach using an associative method to examine the relationship between independent variables and the dependent variable. The data used are secondary data obtained from companies’ annual financial statements over a ten-year period. Data analysis was conducted using multiple linear regression with the assistance of SPSS version 26, along with classical assumption tests. The results show that, partially, Return on Assets (ROA) has no significant effect on stock prices, with a t-value of 1.377 and a significance value of 0.211 greater than 0.05. Debt to Equity Ratio (DER) also has no significant effect on stock prices, with a t-value of -0.806 and a significance value of 0.447 greater than 0.05. Simultaneously, ROA and DER do not significantly affect stock prices, indicated by an F-value of 1.853 and a significance value of 0.226 greater than 0.05. The correlation coefficient (R) of0.588 indicates a moderately strong positive relationship. These findings suggest that profitability and capital structure are not the main determinants of stock price fluctuations during the study period. Keywords: Return on Assets, Debt to Equity Ratio, Stock Price
PENGARUH SOLVABILITAS DAN PROFITABILITAS TERHADAP HARGA SAHAM (STUDI KASUS PT GREENWOOD SEJAHTERA TBK) PERIODE TAHUN 2014 – 2023 Milatum Syafah; Adji Widodo; Nani Rusnaeni
Bhinneka Multidisiplin Journal Vol. 3 No. 1 (2026): Bhinneka Multidisiplin Journal
Publisher : Yayasan Education and Social Center

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53067/bmj.v3i1.99

Abstract

This study aims to determine the effect of Solvency (Debt to Equity Ratio) and Profitability (Net Profit Margin) on the Stock Price of PT Greenwood Sejahtera Tbk. The population and sample used in this research are the Financial Statements of PT Greenwood Sejahtera Tbk, consisting of the Balance Sheet and Income Statement for the period from 2014 to 2023. The type of this research is descriptive quantitative, and the research methods used are Descriptive Statistical Analysis, Classical Assumption Test, Multiple Linear Regression, Hypothesis Testing, and Coefficient of Determination Test. The results of the study in the t-test (partial) show that the Debt to Equity Ratio has a t-value of –1.955 < t-table 2.365 with a significance value of 0.092 > 0.05. This means that the Debt to Equity Ratio does not have an effect on the Stock Price. Meanwhile, the Net Profit Margin has a t-value of -1.704 < t-table 2.365 with a significance value of 0.132 > 0.05. This means that NPM does not have an effect on Stock Prices. Based on the results of the F test (simultaneous), it shows that the calculated F value of 3.514 < the table F value of 4.46 with a significance value of 0.088 > 0.05. This means that there is no simultaneous effect between the Debt to Equity Ratio and Net Profit Margin variables on Stock Prices. The research results on the coefficient of determination show that the influence of the Debt to Equity Ratio and Net Profit Margin on Stock Price is 35.80%. Meanwhile, the remaining 64.20% is influenced by other variables that were not examined.
Pengaruh Laba Akuntansi, Ukuran Perusahaan, dan Pertumbuhan Penjualan terhadap Return Saham pada PT Polychem Indonesia Tbk Periode 2015-2024 Septina Nuraini; Adji Widodo
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 6 (2026): JUNI
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i6.10866

Abstract

Abstract. This study aims to examine the effect of Accounting Profit, Firm Size, and Sales Growth on Stock Returns at PT Polychem Indonesia Tbk during the 2015–2024 period, both partially and simultaneously. The research employed a quantitative approach using secondary data derived from the company’s financial statements throughout the study period. Data analysis techniques included descriptive statistics, classical assumption tests, multiple linear regression analysis, coefficient of determination (R²), and hypothesis testing using t-tests and F-tests. The results show that partially Accounting Profit does not have a significant effect on Stock Returns (t-value −0.255 < t-table 2.447; significance 0.807 > 0.05). Firm Size also does not significantly affect Stock Returns (t-value 1.046 < t-table 2.447; significance 0.336 > 0.05). Similarly, Sales Growth does not have a significant effect on Stock Returns (t-value 1.519 < t-table 2.447; significance 0.180 > 0.05). Simultaneously, the three independent variables do not significantly influence Stock Returns (F-value 1.278 < F-table 4.76; significance 0.364 > 0.05). The Adjusted R² value of 0.085 indicates that Accounting Profit, Firm Size, and Sales Growth collectively explain only 8.5% of the variation in Stock Returns, while the remaining 91.5% is influenced by other factors outside the model, including macroeconomic conditions, government policies, market sentiment, and industry dynamics. Keywords: accounting profit; firm size; sales growth; stock return
Pengaruh Efektivitas Aset Lancar dan Struktur Modal terhadap Kinerja Keuangan Perusahaan PT Ultrajaya Milk Industry & Tranding Company Tbk Periode 2015-2024 Cleony Ramadhini; Adji Widodo
Indonesian Journal of Multidisciplinary on Social and Technology Vol. 4 No. 3 (2026): Juli - Oktober
Publisher : PT Ilmu Data Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.69693/ijmst.v4i3.13292

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh efektivitas aset lancar yang diukur dengan Current Ratio (CR) dan struktur modal yang diukur dengan Debt to Equity Ratio (DER) terhadap kinerja keuangan yang diukur dengan Return on Assets (ROA) pada PT Ultra Jaya Milk Industry & Tranding Company Tbk periode 2015–2024. Penelitian ini menggunakan metode kuantitatif dengan pendekatan deskriptif dan verifikatif. Data yang digunakan merupakan data sekunder yang diperoleh dari laporan keuangan tahunan perusahaan. Analisis data dilakukan menggunakan regresi linier berganda dengan bantuan SPSS versi 25 melalui uji asumsi klasik, uji koefisien korelasi, koefisien determinasi, uji t, dan uji F. Hasil penelitian menunjukkan nilai koefisien korelasi (R) sebesar 0,448, yang berarti Current Ratio dan Debt to Equity Ratio memiliki hubungan positif dengan tingkat hubungan sedang terhadap Return on Assets. Nilai koefisien determinasi (R²) sebesar 0,201 menunjukkan bahwa Current Ratio dan Debt to Equity Ratio mampu menjelaskan variasi Return on Assets sebesar 20,1%, sedangkan 79,9% dipengaruhi oleh faktor lain di luar penelitian. Secara parsial, Current Ratio tidak berpengaruh signifikan terhadap Return on Assets (thitung = -0,066; Sig. = 0,949 > 0,05) dan Debt to Equity Ratio juga tidak berpengaruh signifikan terhadap Return on Assets (thitung = -0,863; Sig. = 0,416 > 0,05). Secara simultan, Current Ratio dan Debt to Equity Ratio tidak berpengaruh signifikan terhadap Return on Assets (Fhitung = 0,879; Sig. = 0,457 > 0,05). Dengan demikian, kinerja keuangan PT Ultra Jaya Milk Industry Tbk lebih dipengaruhi oleh faktor-faktor lain di luar Current Ratio dan Debt to Equity Ratio.