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Sohilauw, Muhammad Irfai
Sekolah Tinggi Ilmu Ekonomi Makassar Bongaya
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Journal : ARBITRASE: JOURNAL OF ECONOMICS AND ACCOUNTING

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Revenue Growth, Profit Growth, and Stock Prices: Ownership Structure Moderation Muhammad Irfai Sohilauw
ARBITRASE: Journal of Economics and Accounting Vol. 5 No. 3 (2025): March 2025
Publisher : Forum Kerjasama Pendidikan Tinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/arbitrase.v5i3.2259

Abstract

This study examines the effect of revenue and profit growth on the stock prices of PT Bali Bintang Sejahtera, Tbk, using financial report data from Bali United from January 2017 to December 2023 with E-Views 12 software. The analysis shows that revenue growth has a significant impact on profit growth (p=0.0127) and stock prices (p<0.0001). Meanwhile, profit growth has a significantly negative effect on stock prices (p=0.0013). The moderation of ownership structure on the relationship between profit growth and stock prices is not directly significant (p=0.4560), but the interaction between profit growth and ownership structure shows marginal significance (coefficient=0.461212, p=0.0931). Furthermore, the Sobel test indicates that profit growth partially mediates the impact of revenue growth on stock prices significantly (Sobel test statistic=2.0268, p=0.0427). This result is supported by the Aroian test (p=0.0468) and Goodman test (p=0.0369). These findings provide new insights into financial literature, particularly in the context of the football industry. Investors value revenue growth and club reputation more than short-term profits. This study reveals that the relationship between revenue growth, profit, and stock prices in the football industry exhibits unique dynamics compared to other sectors, highlighting the distinctive way football economics operates.
Co-Authors A. Jihan Fitrayana A. Tenriola Abdul Mansyur Mus Adhe Alda Rezky Darmawan Aditya Rifki Putra Ady Adriansyah Afiuddin, Muhammad Rifaldy Agnes Datu Tanantin Ahmad Anto Alifiyah Utami Faisal Ardiansyah Halim Arzah Hidayatullah Ashari, Nurfadilla Awaluddin Awaluddin Azlineer Sarip Bintang Dani Bustam Bustam Dahniar Daud Dhea Hildayanty Didit Fachri Rifai Djamila Saleh Djamilah Saleh Erniwati Madya Ervina Ervina Gunawan Gunawan Hardiani Hardiani Haris, Syahyudi Hasbiyadi, Hasbiyadi Husnul Agus Mubarak Kadir, Muh. Akob Krhistian, Roy Luciana Kanji Lusiana Kanji M. Akob Kadir Mansyur Tanra Mappamiring Mappamiring Mappamiring P Mentari Syafar Muh Irwan Nur Hamidin Muh Wiswandi Murlan Muh. Andhy Saputra Muh. Faisal Arief Muhamad Bighta Pratiya Muhammad Akob Kadir Muhammad Reezha Kurniawan Muhammad Tafsir MURSIDAH MURSIDAH Mustafa Gani Nelwan, Reny Nur Azizah Nur Fiskayani Yustika Nur Hikmah Nurfadya Zulfatulaela Nurlaely Razak Orfyanni S. Themba Rabihatun Idris Reny Nelwan Rezky Ramadhan Ridjal, Syamsul Rosdiana Rosdiana Rumianti, Chaerunnisa Saputra, Ade Cahya Prandy Sjahruddin, Herman Syamsul Alam Syamsul Ridjal Tangngisalu, Jannati Wahyuni Wahyuni Wulan Purnama Rais Yacobus Efesus Yana Fajriah Yudi Ahmad Sadeli