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Journal : IIJSE

ANALYSIS OF THE EFFECT OF EARNING PER SHARE (EPS) AND RETURN ON EQUITY (ROE) ON STOCK PRICES: A STUDY OF STATE-OWNED ENTERPRISE (BUMN) ISSUERS ON THE INDONESIA STOCK EXCHANGE IN THE 2015-2024 PERIOD Marwah, Nur Aliyah; Budiyanti, Hety; Aslam, Annisa Paramaswary
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.v9i2.9527

Abstract

This study aims to determine: (1) the effect of Earning Per Share (EPS) on stock prices in parent state-owned enterprise issuers, (2) the effect of Return on Equity (ROE) on stock prices in parent state-owned enterprise issuers, and (3) the effect of Earning Per Share (EPS) and Return on Equity (ROE) together on stock prices in parent state-owned enterprise issuers listed on the Indonesia Stock Exchange. This study uses a quantitative approach with an associative research type. The data used are secondary data obtained from annual financial reports and stock price data of parent state-owned enterprise issuers listed on the Indonesia Stock Exchange during the 2015–2024 period. The sampling technique was carried out by purposive sampling. The data analysis method used is panel data regression with the help of EViews software. The results of the study indicate that: (1) Earning Per Share (EPS) partially has a positive and significant effect on the stock price of parent BUMN issuers with a value (p-value 0.02 < 0.05), (2) Return on Equity (ROE) partially has a positive and significant effect on the stock price of parent BUMN issuers with a value (p-value 0.01 < 0.05), and (3) Earning Per Share (EPS) and Return on Equity (ROE) simultaneously have a significant effect on the stock price of parent BUMN issuers with a value (p-value 0.000 < 0.05). In addition, company size as a control variable also strengthens the relationship between the company's fundamental performance and stock prices.
Co-Authors Abadi, Rahmat Riwayat Abadi, Ridfan Rifaldy Abdi Akbar Idris Agung Widhi Kurniawan Amalia, Regina Amin , Andi Mustika Andi Asmawati Azis Andi Citra Pratiwi Andi Dewi Angreyani Andi Mustika Amin Andika Isma Angraeni, Erni Angreyani, Andi Dewi Anugrah, Fira Anwar Anwar Anwar Anwar Anwar Ramli Anwar, Indah Lestari Arissoma, Muhammad Anggit Gagat Arnes Yuli Vandika Aslam, Achmad Yassin Zidan Akram Asri Awal Ayu Kartini Parawansa Ayu Kartini Parawansa Ayu, Dian Fajar Ayu, Reski Burhanuddin Burhanuddin Burhanuddin Darmawinata, Widhi Nugraha Sumiharja Dipoatmodjo, Tenri S.P Dipoatmodjo, Tenri SP Dwi Anugerah Lestari Musa Farid, A Muhammad Firdaus Daud Fitriani Rahim Fudjaja, Letty Haeruddin , Muhammad Ilham Wardhana Haeruddin, Muhammad Ilham Wardhana Haeruddin Haliza, Nur Hamid, Muliana Gunawan Hanafi, Anhar Ahmad Syah Hanafi, Kartini Hannan Fadlurahman Hardiyanti, Andi Aryani Hasbiah, Siti Hety Budiyanti, Hety Idris, Abdi Akbar Idris, Muhammad Istiyansyah Ulman Ilma Wulansari Hasdiansa Indri Iswardhani Ipoatmodjo, Tenri S. P. D Irma Satriani Irma Satriani, Irma Isma Azis Riu Juliani Khairul, Nila Kalla, Rastina Kesuma, Sulfadli Adi Jaya Khadija, Sitti Kristina W. Parinsi Kusuma, Sulfadli Adijaya M Taslim Dangnga M. Ikhwan Maulana Haeruddin Maghfirah Sultan, Nurul Malika, Safinah Aisya Mansyur, Muthmainnah Marwah, Nur Aliyah McMahon, Peter J. Muh Al Fatah Arief Putra Muh Arnesta Arnanda Muh Reza Abdillah Muh. Yushar Mustafa Muhammad Ardiansyah Muhammad Ridwan Muhammad Yasir Mukarram, Hadratul Musa , Muhammad Ichwan Musa, M. Ichwan Musa, Muh Ichwan Musa, Muhammad Ichwan Mushawwir , Shaleh Afief A Mushawwir, Shaleh Afief A Mustafa, Fahrina Mustafa, Riad Natsir, Uhud Darmawan Nugraha , Rahmat Nurul Prima Nur, Sulistiwati Nurgraha SD, Widhi Nurhidayanti, Helmi Nurman Nurman Nurman Nurman Nurman Nurul Aulia Nisa Nurul Fadilah Aswar Palangkey, Nurul Rahmi Parawansa, Dian Anggraece Sigit Parawansa, Jalaluddin Mannagalli Patigana, A Gita Namira Pole, Yogi Adnal Fathirullah Pratiwi, Andi Citra Primawalda, Az-zahra Rizqi Putra, Muh Al Fatah Arief Putra, Muh. Al Fatah Arief Putri, Ariella Ramadhani Qhalby, Zakira Rahayu, Widuri Rahmadani, Dwi RAHMAT SETIAWAN Rahmat, Muhammad Rijal Alim Ramadhani, Gina Ramadhani, Khusnul Khatimah Putri Ramli , Anwar Rauf, Deddy Ibrahim Regina Regina Rezky Amalia Hamka Rezky Amalia Hamka Ridfan Rifadly Abadi Rifda Rahmah Bamatraf Romansyah Sahabuddin Sapira, Amani Sahra Saputra, Aria Sari, Risa Arsita Sitti Hasbiah Sombeng, Andi Rini Hastuti Syafikah, Nurul Syahrul, Khaidir Syam, Muh. Lutfi Syardiansyah Syarif Saddam Rivanie Taufik, Anisya Devinta Taufik, Finta Anindhita Tawe, Amiruddin Tenri Sayu Puspitaningsih Dipoatmodjo Uhud Darmawan Natsir Upriani, Upriani Wahyudin Wahyudin Widhi Kurniawan, Agung Widuri Rahayu Wilda Wilda Wulansary, Ilma