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p-Index From 2021 - 2026
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All Journal Ascendia: Journal of Economic and Business Advancement
Shakira Sitirouloh Tuanaya
Politeknik Bina Madani
Economics, Econometrics & Finance

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Pengaruh Rasio Keuangan dan Earning per Share terhadap Harga Saham Perusahaan Sektor Finansial di Bursa Efek Indonesia Periode 2021–2023 Ellynawati Ellynawati; Tuti Achyani; David Chandrawan; Anna Fajarwaty; Ayu Ambarwati; Shakira Sitirouloh Tuanaya
Journal of Economic and Business Advancement Vol. 1 No. 4 (2026): June: Ascendia: Journal of Economic and Business Advancement
Publisher : CV SCRIPTA INTELEKTUAL MANDIRI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65310/v89k6g04

Abstract

This study examines the effect of financial ratios and earnings per share on stock prices of financial sector companies listed on the Indonesia Stock Exchange during 2021–2023. Using a quantitative explanatory design with panel data regression, the sample consists of firms selected through purposive sampling based on data completeness and consistency. The independent variables include return on assets, return on equity, net profit margin, and earnings per share, while stock price is measured by annual closing price. The results indicate that earnings per share demonstrates the strongest and most consistent positive influence on stock prices, while profitability ratios show varying levels of significance across models. Simultaneous testing confirms that all variables jointly affect stock prices, and model evaluation suggests that the fixed effect specification provides the best fit with satisfactory explanatory power. These findings support signaling theory and fundamental analysis, emphasizing the importance of financial performance indicators in investor decision making.  
Co-Authors Anna Fajarwaty Ayu Ambarwati David Chandrawan Ellynawati Ellynawati Tuti Achyani