JURNAL PENELITIAN EKONOMI DAN AKUNTANSI (JPENSI)
Vol. 11 No. 2 (2026): Jurnal Penelitian Ekonomi dan Akuntansi JPENSI

The Effect Of Capital Structure, Financial Performance, And Capital Intensity On Company Stock Prices

Kristina Timu Welan (-)



Article Info

Publish Date
24 Jun 2026

Abstract

This study aims to analyze the influence of capital structure, financial performance, and capital intensity on stock prices of food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the 2019–2024 period. The study uses a quantitative approach with secondary data in the form of annual financial reports. The sample was determined through purposive sampling of 52 companies with a total of 312 observations. The analysis was conducted using panel data regression with the Fixed Effect Model (FEM). The results show that partially, capital structure and capital intensity have no significant effect on stock prices, while financial performance has a significant effect. Simultaneously, all three variables have a significant effect on stock prices. This finding indicates that investors consider financial performance, especially profitability, more heavily in making investment decisions.

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Journal Info

Abbrev

jpensi

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Penelitian Ekonomi Dan Akuntansi (JPENSI) adalah jurnal peer-review yang diterbitkan oleh Litbang Pemas Universitas Islam Lamongan yang terbit tiga kali dalam setahun yaitu bulan Februari, Juni dan Oktober. JPENSI telah mempublikasikan jurnal sejak Tahun 2016. JPENSI merupakan jurnal yang ...