Tadulako International Journal of Applied Management (TaJAM)
Vol 7 No 3 (2025): December : Tadulako International Journal of Applied Management

THE EFFECT OF SALES GROWTH AND PROFITABILITY ON STOCK PRICES VIA CAPITAL STRUCTURE

Suo, Abd Haris (Unknown)
Zainuddin, Fatlina (Unknown)
Fattah, Vitayanti (Unknown)



Article Info

Publish Date
31 Dec 2025

Abstract

This study analyzes the impact of revenue growth and profitability on stock prices, focusing on capital structure as an intermediary variable in the property sector listed on the Indonesia Stock Exchange. The research adopts a quantitative approach, using secondary data from observations and official records of the Indonesian Stock Exchange. The data span 2020-2023 and comprise a sample of 21 companies selected through purposive sampling. Data analysis was conducted using path analysis in AMOS 26. The findings indicate that revenue growth has a positive but statistically insignificant effect on both capital structure and stock prices. In contrast, profitability has a negative yet statistically significant effect on capital structure, while it has a positive and meaningful influence on stock prices. Capital structure, however, shows a negative but statistically insignificant impact on stock prices. Thus, capital structure does not mediate the relationship between revenue growth, profitability, and stock prices.

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Journal Info

Abbrev

tajam

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Tadulako International Journal of Applied Management with registered number ISSN 2684-9089 (Print) and 2987-1271 (electronic) is published by the Master of Management Study Program, Faculty of Economics and Business, Tadulako University. It is published thrice a year in April, August, and December. ...