JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi)
Vol. 12 No. 1 (2026): Februari 2026

Rasio Keuangan dan Respons Harga Saham: Bukti Empiris dari Sektor Transportasi di Indonesia 2020–2024

Rizqia Nur Salma (Universitas Indonesia Membangun)
Listri Herlina (Universitas Indonesia Membangun)
Ilham Winar Nugroho (Universitas Indonesia Membangun)



Article Info

Publish Date
01 Feb 2026

Abstract

This study aims to empirically examine the influence of the Current Ratio, Debt to Equity Ratio, and Return on Assets both simultaneously and partially on Stock Prices of Transportation and Logistics sector companies listed on the Indonesia Stock Exchange, namely PT Samudera Indonesia Tbk (SMDR), PT TEMAS Tbk (TMAS), and PT AirAsia Indonesia Tbk (CMPP). The sampling technique used is purposive sampling, based on the completeness of quarterly financial reports for the 2020–2024 period and the availability of stock price data. This research employs panel data regression analysis using the Fixed Effect Model (FEM) with EViews 12.0 as an analytical tool. The results indicate that the Current Ratio has a positive but not significant effect on stock prices, with a significance value of 0.1492 > 0.05 and a coefficient of 402.5092. The Debt to Equity Ratio also shows a positive but not significant effect, with a significance value of 0.1492 > 0.05 and a coefficient of 2.795. Return on Assets demonstrates a positive and significant effect, with a significance value of 0.0073 < 0.05 and a coefficient of 27.339. Simultaneously, the three variables are proven to significantly influence stock prices.

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Journal Info

Abbrev

jemsi

Publisher

Subject

Economics, Econometrics & Finance

Description

JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) is an electronic independent international scientific and academic journal that aims to publish scholars’ original and high-quality manuscripts and reports in all fields of business. JEMSI adheres to an open access policy to accelerate the ...