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All Journal The Asia Pacific Journal Of Management Studies Jurnal Studia Akuntansi dan Bisnis (The Indonesian Journal of Management & Accounting)
Nalsal, Pindonta
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Economics, Econometrics & Finance

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PENGARUH INFLASI, SUKU BUNGA, DAN PROFITABILITAS TERHADAP RETURN SAHAM (Studi Pada Industri Keuangan Non Bank Yang Terdaftar di BEI Tahun 2019-2021) Nalsal, Pindonta
Jurnal Studia Akuntansi dan Bisnis (The Indonesian Journal of Management & Accounting) Vol 11 No 1 (2023)
Publisher : Universitas La Tansa Mashiro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55171/jsab.v11i1.1041

Abstract

The Covid-19 pandemic has had an impact on the economy in Indonesia, one of which is stock returns in the non-bank financial industry. The size of stock returns is also influenced by internal factors represented by the profitability ratio proxied by ROA and other external factors, namely inflation and interest rates. The aim of the research is to obtain empirical evidence of the partial and simultaneous influence of inflation, interest rates and profitability on study stock returns in the non-bank financial industry. This type of research is quantitative using secondary data in the form of annual reports from the non-bank financial industry registered on the IDX for 2019-2021. Sample selection used the purposive sampling method. The data analysis used is multiple linear regression using SPSS 25. The research results show results that can be concluded that partially ROA only has an influence on stock returns while inflation and interest rates have no effect on stock returns. However, simultaneously it shows that ROA, inflation and interest rates have an influence on stock returns in the Non-Bank Financial Industry Listed on the IDX in 2019-2021.
ANALISIS RASIO ROA DAN NPM TERHADAP HARGA SAHAM PADA PERUSAHAAN SUBSEKTOR MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA Siti Mudawanah; Nalsal, Pindonta
The Asia Pacific Journal Of Management Studies Vol 12 No 2 (2025)
Publisher : Universitas La Tansa Mashiro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55171/apjms.v12i2.1450

Abstract

This study aims to analyze the effect of Return on Assets (ROA) and Net Profit Margin (NPM) on stock prices of food and beverage subsector companies listed on the Indonesia Stock Exchange (IDX) during 2022–2023. The population consists of 95 food and beverage subsector companies. Using purposive sampling, 83 companies were initially selected. However, after outlier testing, 43 companies were excluded, leaving a final sample of 40 companies (80 observations) for data analysis. The research applies a quantitative approach with multiple linear regression analysis. Descriptive statistics reveal considerable variation in profitability levels among companies. Regression results show that ROA has no significant effect on stock prices, while NPM exhibits a positive and significant effect. Simultaneously, ROA and NPM significantly influence stock prices, although their contribution is relatively small (R² = 7.5%). These findings suggest that stock prices in the food and beverage subsector are not solely determined by profitability ratios, but are also influenced by external factors such as macroeconomic conditions and market sentiment. This study provides a theoretical contribution by enriching the literature on fundamental stock analysis and practical implications for investors in making investment decisions based on corporate financial performance.
Co-Authors Siti Mudawanah