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Journal : eCo-Fin

Impact of Institutional Ownership, Debt to Equity Ratio, and Current Ratio on Stock Prices in Indonesian Transportation Companies (2017–2023) Sholihah, Elly; Damayanti, Santi
eCo-Fin Vol. 7 No. 1 (2025): eCo-Fin
Publisher : Komunitas Dosen Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32877/ef.v7i1.2145

Abstract

This study examines the effect of Institutional Ownership (IO), Debt to Equity Ratio (DER), and Current Ratio (CR) on the stock prices of transportation companies listed on the Indonesia Stock Exchange (IDX) from 2017 to 2023. Using a quantitative methodology with a descriptive and verificative approach, the research analyses 49 financial statements from selected transportation firms. To test the relationships among the variables, multiple linear regression analysis, the coefficient of determination test, product moment correlation coefficient test, and classical assumption tests were conducted, including F-tests and t-tests for hypothesis testing. Data processing was performed using SPSS software version 21.0. The partial test results reveal that IO negatively impacts stock prices, while the DER also has a negative effect. In contrast, the CR does not significantly influence stock prices. However, based on the simultaneous test results, IO, DER, and CR together have a significant impact on stock prices. These findings suggest that capital structure and ownership composition play a crucial role in determining stock valuation in the transportation sector, while short-term liquidity does not appear to be a major influencing factor.
Co-Authors A.A. Ketut Agung Cahyawan W Adi Sucipto, Adi Afsilah, Alya Agung, Sintya Dewi I Dewa Ayu Agus Suharto, Agus Alfarabi, Farah Fadilah Almira, Meila Anggreni, Ni Wayan Diah Novi Anjas Tryana Aridayanti Fajar Putri Arifin Arifin Arifin Arifin Ariyanto Nugroho Asmarani Lathu Fajarina Budi Purnasari, Retno Christopher Christopher Cornelia D.Y. Nekada Deka Saputra Eneng Kurnia Dewi Fahmi Sugesti Fika Lilik Indrawati Herry Susanto Inayah Inayah Islamagesvi, Anggie Lestiawati, Endang Linda Linda Linda Linda Luhde Damayanti Luknis Sabri Masela, Angel Sentia Mayang Riski Apriyanti Mery Merdiani metty metty Mohamad Judha Muflih Muflih Muflih Muflih Muflih, Muflih Muhammad Irfan Habibi Muhammad Nur Kosim Murdhiono, Wahyu Rochdiat N, Cornelia Dede Y. Nazwar Hamdani Rahil Ni Luh Komang Sri Ayunia Ni Made Winda Opelya Ni Wayan Diah Novi Anggreni Niken Ayuma Elvita Dewi Noer, Zeni Muhammad Nova Iswanda S Nur Khasanah Nurjannah, Dewi Onik Mayowi Pornman Inta Pratiwi, Ihsani Dwi Rachma Sukma Wijayanthi Ratna Sitorus Retnaningsih, Listyana Natalia Ririn Wahyu Widayati Rizky Erwanto, Rizky Rohmah, Mulahana Nur Rukmaini Sari, Resti Okta Septiany, Ranti Setiawan, I Made Adi Shao Xiaolin Sholihah, Elly Sintya Dewi I Dewa Ayu Agung Siti Fadlilah Siti Fadlilah Siti Fadlilah Siti Fadlilah Sri Ati Rahmawati Sri Ayu Pancawati, Ni Luh Putu Suci Fitri Enggayani Sucipta, I Kadek Indra Sugiyarto Sugiyarto Suryani, Tiwi Suwarsi, Suwarsi Taufik, Fathia Nursyamsi Uswatun Khasanah Wanti Warsiti Wijayanthi, Rachma Sukma Yoshima Nekada, Cornelia Dede Zuli Nuraeni