<![CDATA[This study examines the effects of financial performance on stock prices in food and beverage companies listed on the Indonesia Stock Exchange during the 2019–2021 period. The study employs a quantitative causal approach using secondary data obtained from audited annual reports and financial statements. The sample was selected through purposive sampling and consisted of 132 firm-year observations. Financial performance was represented by the Current Ratio, Debt-to-Equity Ratio, Return on Assets, Total Asset Turnover, growth in Earnings per Share, and Price-to-Book Value. Data were analyzed using panel-data regression with EViews version 12. Based on the Chow, Hausman, and Lagrange Multiplier tests, the random-effects model was selected as the most appropriate estimation model. The results show that Return on Assets, Total Asset Turnover, and Price-to-Book Value have positive and significant effects on stock prices. The Current Ratio has a positive but insignificant effect, while the Debt-to-Equity Ratio and growth in Earnings per Share have negative but insignificant effects. Simultaneously, all six financial-performance indicators significantly affect stock prices. The adjusted coefficient of determination is 35.54%, indicating that the model explains 35.54% of the variation in stock prices.]]>
Copyrights © 2025
