International Journal of Economic Integration and Regional Competitiveness
Vol. 3 No. 4 (2026): International Journal of Economic Integration and Regional Competitiveness

AGRITECH: INVESTOR HOPE OR MARKET ILLUSION?

Dodit Efendi (Muhammadiyah University of Sidoarjo, Indonesia)
Herlinda Maya kumalasari (Muhammadiyah University of Sidoarjo, Indonesia)



Article Info

Publish Date
13 Apr 2026

Abstract

Objective: This study is motivated by the inconsistency between positive market sentiment regarding agritech technology collaboration and the declining movement of stock prices. The purpose of this study is to analyze the effect of Return on Assets (ROA), Debt to Assets Ratio (DAR), and Current Ratio (CR) on stock prices of agritech sector companies. Method: This research employs a quantitative method using panel data regression analysis. The data used are secondary data obtained from agritech companies listed on the Indonesia Stock Exchange during the 2022–2025 period, selected through a purposive sampling technique. The analysis was conducted using EViews 12 with the Random Effect Model (REM). Results: The results indicate that ROA and DAR have a positive and significant effect on stock prices, while CR has a negative and significant effect. Simultaneously, all independent variables significantly influence stock prices. Novelty: These findings suggest that investors tend to prioritize profitability and financing strategies over liquidity in making investment decisions. Therefore, not all financial ratios are equally responded to by the market in determining stock prices in the agritech sector.

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Journal Info

Abbrev

IJEIRC

Publisher

Subject

Description

International Journal of Economic Integration and Regional Competitiveness - researches the broad scope of competitiveness policies and practices across destinations and all regions of the world. With emphasis on mechanisms of economic integration, financial development, creation of prosperity and ...