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All Journal Jurnal Manajemen Riset Inovasi
Zaifun Nur Fatrianto
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Decision Sciences, Operations Research & Management

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Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia Jeni Parastika; Septa Diana Nabella; Dewi Permata Sari; Yandra Rivaldo; Zaifun Nur Fatrianto
Jurnal Manajemen Riset Inovasi Vol. 4 No. 2 (2026): Jurnal Manajemen Riset Inovasi
Publisher : Pusat Riset dan Inovasi Nasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55606/mri.v4i2.8841

Abstract

Investment decisions in pharmaceutical manufacturing companies listed on the Indonesia Stock Exchange (IDX) are influenced by fundamental analysis and stock price fluctuations. Stock prices reflect market perceptions shaped by profitability, liquidity, and capital structure. This study examines the effects of Return on Assets (ROA), Current Ratio (CR), and Debt-to-Equity Ratio (DER) on stock prices, both partially and simultaneously. Using a quantitative approach, the study analyzes secondary data from audited financial statements and stock prices of 12 pharmaceutical companies during 2022–2024, totaling 36 observations. Panel data regression with EViews 12 is applied. Results show that ROA and DER have positive and significant effects on stock prices, while CR has a negative but insignificant effect. Simultaneously, all three variables significantly influence stock prices, with an adjusted R² of 73%, indicating strong explanatory power. Profitability (ROA) is the most influential factor, followed by capital structure (DER), while liquidity (CR) shows no significant impact.
Co-Authors Dewi Permata Sari Jeni Parastika Septa Diana Nabella Yandra Rivaldo