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PENGARUH ROA, ROE DAN PBV TERHADAP HARGA SAHAM PADA PERUSAHAAN SEKTOR PERBANKAN YANG TERDAFTAR DI BEI TAHUN 2022-2024 Sitanggang, Rexsy Mardohot; Sitanggang, Karolin Gabrela; Situmorang, Ninda Rohani; Sihaloho, Rebecca Putri; Manalu, Lija Tanjung; Sirait, Dita Eka Pertiwi
Aktiva : Jurnal Akuntansi dan Investasi Vol 10, No 2 (2025): AKTIVA
Publisher : Universitas Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53712/aktiva.v10i2.2890

Abstract

The divergent stock price movements of large-cap banks during the 2022-2024 economic recovery indicate a market anomaly that demands a re-evaluation of fundamental indicators' relevance. This study aims to examine the effect of Return on Assets (ROA), Return on Equity (ROE), and Price to Book Value (PBV) on banking stock prices listed on the Indonesia Stock Exchange during the 2022-2024 period . The research method employs a quantitative causal approach with a purposive sampling technique, yielding 10 sample companies with a total of 30 observations. Data analysis was conducted using panel data regression with the Random Effect Model assisted by EViews 13 software. The results show that ROA and PBV have a positive and significant effect on stock prices, while ROE has a negative and significant influence. Simultaneously, the three variables explain 77.76% of stock price variations. These findings validate signaling theory but highlight that investors are now more selective in responding to high-risk equity profitability.
Pengaruh Literasi Keuangan, Pengetahuan Pasar Modal, dan Resiko Persepsi Terhadap Minat Investasi Mahasiswa Putra, Irwansyah; Monalisa, Indah; Kaur, Sherrindeep; Sirait, Dita Eka Pertiwi; Syahreza, Dina Sarah
Journal of Education Religion Humanities and Multidiciplinary Vol 3, No 2 (2025): Desember 2025
Publisher : CV. Rayyan Dwi Bharata

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57235/jerumi.v3i2.7673

Abstract

Pertumbuhan ekonomi digital mendorong peningkatan partisipasi generasi muda dalam aktivitas investasi, namun belum sepenuhnya diimbangi oleh pemahaman keuangan yang memadai. Penelitian ini bertujuan menganalisis pengaruh literasi keuangan, pengetahuan pasar modal, dan persepsi risiko terhadap minat investasi mahasiswa Program Studi Bisnis Digital Universitas Negeri Medan. Metode penelitian menggunakan pendekatan kuantitatif dengan penyebaran kuesioner berbasis daring kepada 44 mahasiswa aktif yang dipilih melalui teknik proportionate stratified random sampling. Instrumen penelitian diuji validitas dan reliabilitasnya, dengan hasil menunjukkan seluruh item dinyatakan valid dan reliabel (Cronbach’s Alpha 0,955). Analisis data dilakukan melalui statistik deskriptif, uji asumsi klasik, dan regresi linear berganda menggunakan SPSS. Hasil penelitian menunjukkan bahwa literasi keuangan, pengetahuan pasar modal, dan persepsi risiko masing-masing berpengaruh positif dan signifikan terhadap minat investasi. Secara simultan, ketiga variabel tersebut juga berpengaruh positif dan signifikan terhadap minat investasi mahasiswa, dengan nilai F hitung 23,863 dan tingkat signifikansi 0,001. Nilai koefisien determinasi (R²) sebesar 0,538 menunjukkan bahwa minat investasi dapat dijelaskan oleh ketiga variabel independen sebesar 53,8%, sedangkan sisanya dipengaruhi faktor lain di luar model penelitian. Temuan ini menegaskan pentingnya peningkatan literasi keuangan dan pendidikan investasi pada mahasiswa untuk mendorong partisipasi investasi yang lebih sehat dan produktif di era keuangan digital.
When Profit Outweighs Sustainability: Empirical Evidence from ESG and Firm Value in Indonesia Energy Industry Sirait, Dita Eka Pertiwi; Mardhiyah, Ainul; Oktavia, Shintami
Jurnal EMT KITA Vol 10 No 2 (2026): APRIL 2026
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET) - Lembaga KITA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/emt.v10i2.5798

Abstract

This study aims to examine the role of sustainability and profitability in influencing firm value within Indonesia’s energy sector listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Sustainability performance is measured using the Environmental, Social, and Governance (ESG) disclosure score, while profitability is represented by the Return on Assets (ROA). Firm value is proxied by Tobin’s Q ratio. The research sample consists of 32 energy companies selected using a purposive sampling method. Data analysis is conducted using panel data regression with the Fixed Effect Model (FEM) and the Generalized Least Squares (GLS) approach with cross-section weighting to address potential heteroskedasticity issues. The results reveal that ESG disclosure has no significant effect on firm value, whereas profitability exerts a positive and significant influence. Simultaneously, ESG and profitability jointly have a significant impact on firm value. These findings indicate that investors in Indonesia’s energy sector remain more focused on profitability as the primary determinant of firm value, while sustainability performance has yet to become a key consideration in investment decisions. This study contributes to the ongoing discussion on the integration of ESG factors into firm valuation, particularly within emerging market contexts such as Indonesia.