Agustin, Wardah Sania
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Pengaruh Kinerja Keuangan Terhadap Harga Saham Agustin, Wardah Sania; Champaca, Mychelia
Jurnal Management Risiko dan Keuangan Vol. 2 No. 3 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/jmrk.2023.02.3.08

Abstract

During the last few years, the financial performance of most companies has decreased due to disruptions in their operation since the Covid-19 pandemic gave no option for the government to cut the outbreak chain by enforcing restriction policies. However, this does not apply to mining companies, whose financial performances have even increased. Therefore, this study examines the liquidity, solvability, and profitability of those companies during the 2018-2022 period. The research objects are mining companies listed on the Indonesia Stock Exchange. The data was analyzed through multiple linear regression to assess the effects of liquidity, solvability, and profitability on stock prices. This study finds that liquidity which is measured using Current Ratio (CR) positively and significantly influences the stock price, that solvability which is measured using Debt-to-Equity Ratio (DER) negatively and significantly affects stock price, and that profitability which is measured using Net Profit Margin has significant impacts on the stock price. These findings indicate that liquidity and solvability give positive signals to the companies, as seen from the relatively stable stock prices of the mining companies each year.   Abstrak Periode beberapa tahun terakhir ini, mayoritas kinerja keuangan perusahaan mengalami penurunan akibat adanya covid 19 yang mana pemerintah ingin memutus rantai penyebaran Covid 19 dengan memberlakukan kebijakan pembatasan yang mengganggu operasional perusahaan. Namun kinerja keuangan pada perusahaan sektor pertambangan cenderung meningkat daripada yang lain. Maka dari itu, penelitian ini tertarik untuk meneliti sektor pertambangan pada periode 2018-2022 dari segi likuiditas, solvabilitas dan profitabilitas. Dengan demikian, penelitian ini menggunakan objek penelitian sektor pertambangan yang terdaftar di Bursa Efek Indonesia. Analisis data dalam penelitian ini menggunakan regresi linier berganda untuk menguji pengaruh likuiditas, solvabilitas dan profitabilitas terhadap harga saham. Hasil Penelitian menunjukkan bahwa rasio likuiditas yang diukur menggunakan Current Ratio (CR) berpengaruh positif dan signifikan terhadap harga saham, rasio solvabilitas yang diukur menggunakan Debt to Equity Ratio (DER) berpengaruh negarif dan signifikan terhadap harga saham, namun rasio profitabilitas yang diukur menggunakan Net Profit Margin (NPM) tidak berpengaruh signifikan terhadap harga saham. Hal ini mengindikasikan bahwa likuiditas dan solvabilitas memberikan sinyal positif bagi perusahaan terlihat pada harga saham perusahaan sektor pertambangan cenderung stabil setiap tahunnya.