Determination of Fundamental and Technical Factors on Share Prices in Large-Capitalized Companies Listed on the Indonesia Stock Exchange for the 2015-2019 Period (original) (raw)
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International journal of research and review, 2024
This research analyzes the influence of return on equity, current ratio, Earnings per share, debt-to-equity ratio, dividend payout ratio, bid volume, and trading volume on stock prices. The type of research used is quantitative research. The research population is large capitalization companies listed on the Indonesia Stock Exchange in 2016-2022 using a sampling technique, namely nonprobability sampling with a purposive sampling approach. The data analysis technique uses panel data regression analysis with the help of EViews software. Based on the research results obtained, return on equity, current ratio, Earnings per share, debt to equity ratio, dividend payout ratio, bid volume, and trading volume have a positive and significant effect on stock prices simultaneously. Partially, Return on Equity has a significant effect on share prices, meaning that Return on Equity can significantly increase the value of share prices. The Current Ratio has a significant effect on share prices, meaning that the Current Ratio can significantly increase the value of share prices. The debt-to-equity ratio does not significantly affect share prices, meaning that the debt-to-equity ratio cannot increase the value of share prices. Earnings per Share does not significantly affect share prices, meaning that Earnings per Share cannot increase the value of share prices. The Dividend Payout Ratio significantly affects share prices, meaning that the Dividend Payout Ratio can significantly increase the value of share prices. Bid Volume significantly affects share prices, meaning that Bid Volume cannot increase the value of share prices. Trading Volume does not significantly affect share prices, meaning that Trading Volume cannot increase the value of share prices. The coefficient of determination (R2) seen from the Adjusted R Square has a value of 86.6%, which means that Return on Equity, Current Ratio, Earnings per Share Debt to Equity Ratio, Dividend Payout Ratio, Bid Volume and Trading Volume influence stock prices quite strongly. Meanwhile, the rest is explained by other factors outside the regression model that were not examined, such as inflation and interest rates.
The effect of return on equity, earning per share and price earning ratio on stock prices
The Accounting Journal of Binaniaga, 2019
The purpose of this study is to analyze, test, and prove the effect of returns on equity (ROE), earnings per share (EPS), and price-earnings ratio (PER) on stock prices (SP). The method carried out in this test uses multiple linear regression with the preceding test of classical assumption deviations. The result shows that the data is normally distributed and no overlapping is obtained. Based on the results of the ANOVA test calculations obtained the value of F-value = 13.349 with a significance of 0.005. By using the 0.05 level of significance, the value of F-table is 2.839. Then Fvalue 13.349> F-table (2.389), or significance of 0.005 smaller than 0.05 so that it can be concluded that the three independent variables namely ROE, EPS and PER simultaneously influence the Stock Price on the Indonesia Stock Exchange. Partially the ROE has a significant effect but EPS and PER do not affect. Keywords: returns on equity, earnings per share, and price-earnings ratio on stock prices.
International Journal of Trade, Economics and Finance
This study aims to determine the magnitude of the influence of fundamental analysis and technical analysis of stock prices. Fundamental analysis in research is measured using price earnings ratio (PER). Technical analysis in research is measured using trading frequency and trading volume. The stock price in the study is measured using the closing price at the end of the year. The study used data of mining sector companies in Kompas 100 index which listed in Bursa Efek Indonesia (BEI) year 2013-2015 as many as 10 company samples taken by using nonprobability purposive sampling method. The method of analysis used in this research is multiple linear regression analysis. The conclusion of the hypothesis is done by observing the coefficient of determination and regression, taking into account the significant test result that is T-Test and F-Test 5 percent significance level, performing classical assumption test such The result of the research shows that the variable of fundamental analysis which is calculated using price earnings ratio indicator does not have an effect on stock price, technical analysis variable with trade frequency indicator and trading volume influence to stock price, and fundamental analysis and technical analysis have influence to stock price.
Financial Variables Having Significant Impact on Market Price of Shares
Research Journal of Finance and Accounting, 2013
The purpose of investment by investors in the capital market is to seek profit either in the form of dividend or capital gain and increase wealth. Therefore, before making an investment, it is imperative to the investors to familiarize with the company's fundamental status and performance variables that guide their maximum economic welfare. But on which variable(s) the investors should rely on? Taking this matter into account, the study attempts to identify the variables that have significant influence on shares price in the capital market, to guide investors in selecting the right option to invest, by taking Reneta Pharmaceuticals Limited (RPL), Bangladesh as a case, for the periods 2004 to 2011. Using correlation coefficient, coefficient of determination and testing the formulated hypotheses through student's 't' test, the study reveals that cash flow per share, priceearnings ratio and return on assets have significant impact on price of shares and are the best metrics to explain price movements in capital market and suggest investors to use these in predicting future changes and taking investment decision thereafter.
Factors Affecting the Stock Price: The Role of Firm Performance
Journal of Asian Finance, Economics and Business, 2021
This study examined the effect of Debt Equity Ratio (DER), Net Profit Margin (NPM), and Size on stock prices with company performance as measured by Return on Assets (ROA) as a mediating variable. The sample used is 136 manufacturing companies listed on the Indonesia Stock Exchange (IDX) in the 2014-2018 period. This research was tested using a Warp PLS statistical test tool to prove the proposed hypothesis. The results showed that DER has a significant negative effect on ROA and a significant positive effect on Stock Price. NPM has a significant positive effect on ROA as well as a significant positive effect on Stock Price. While Size has a significant positive effect on ROA but has no effect on Stock Price. ROA has a significant positive effect on Stock Price. ROA does not act as a mediating variable in the relationship between Size and Stock Price; however, ROA acts as a mediating variable in the DER and Stock Price relationship, as well as, in the relationship between NPM and St...
Jurnal Manajemen Bisnis
The purpose of this study is to analyze the effect of Earning per Share (EPS), Return on Equity (ROE), Price Earning Ratio (PER), Net Profit Margin (NPM), Debt to Equity Ratio (DER) towards share price. The population used in this study were 30 companies listed in the Jakarta Islamic Index (JII) during the 2014-2017 period. Sampling technique used was non-probability sampling with purposive sampling method and obtained samples of 17 companies per year which are most active in trading in the Jakarta Islamic Index (JII) group during 2014-2017 period. The analytical tool used to test the hypothesis in this study was multiple linear regression analysis using SPSS software. Hypothesis testing results indicate that EPS, ROE, PER, NPM, and DER variables simultaneously have positive and significant effect on share price. Partially, EPS and ROE variables have positive effect on share price. While, NPM have a negative effect on share price, PER and DER have no negative effect on share price, and. R Square testing result showed that the Adjusted R Square is 0.759. It means that 75.9% of the dependent variable which was stock price can be explained by independent variables namely EPS, ROE, PER, NPM, and DER, while the remaining 24.1% is affected by other variables that are not in the linear regression model.
Advances in Environmental Biology, 2014
This paper reviews the previous studies on determinants of stock price and made a special focus on three determinants, dividend, retained earnings and earnings per share that were indicated by several studies as significant influential on stock prices. Various factors have emerged as determinants of share prices for different markets, in which dividend policy and earnings management were found very active contributor of share price volatility. Studies shows the evidence that dividend policy, more specifically, information contents of dividend, information asymmetry, signaling theory, dividend clientele effect and dividend yield have significant impact on market price of common stock.
Internal and External Factors on Stock Price
Background: The main aim of this research was to determine the effect of return on assets, company size, inflation and foreign exchange rate on stock price. Materials and methods : Some secondary data were collected as a sample from banking companies which listed on the Indonesia stock exchange in the period 2014-2018. Purposive sampling method was used in this research with the criteria as (1) listed in Indonesia stock exchange from 2014 to 2018. (2) publishing audited financial reports in the period 2014-2018 which were in rupiah currency. The data required in this study were taken from the Indonesian Capital Market Directory (ICMD) 2014-2018. The statistical test was carried out with the t test and multiple linear regression analysis, before this test was conducted, the classical assumption test was done first. Results: The results of the study indicated that: return on assets, company size and foreign exchange rate have a significant positive influence on stock price and inflation has no influence on stock price.
Faculty of Economics, 2010
In making investment in capital markets, whether in stocks, bonds or otherwise, investors generally do a series of analysis about the investment that will do. In particular is an investment in shares of securities analysis is required to measure the value of shares. security analysis of the analysis are grouped into two fundamental analysis and technical analysis. In addition to fundamental analysis, investors should Noting the systematic risk in stock investment. This research was conducted to analyze the fundamental factors and systematic risk that influence stock prices, both together and partial to indusrti basic and chemistry. The sampling method using purpose sampling method. Of 61 basic industries and chemical companies listed in Indonesia Stock Exchange, only 30 companies taken as a sample because it has a complete financial reports in 2006-2008. This study uses multiple regression analysis with SPSS program. Dependent Variable is the Share Price and Independent Variable is the ROE, ROI, BVS, PER, PBV, DER, the House and BETA This research has resulted that the BVS and PBV fundamental factors that affect stock prices partially, while the other fundamental factors are not influential. While together all the fundamental factors (ROE, ROI, BVS, PER, PBV, DER, the House and BETA) effect on stock prices.
2020
This paper aims to examine and analyze the influence of fundamental and macroeconomic factors on stock prices either partially or simultaneously. The research subjects focused on LQ45 Index companies listed on the Indonesia Stock Exchange. Secondary data of Indonesian stock market share prices covering between 2013-2019 were used. One Least Square was used to analyze the data. The sampling technique used is the purposive sampling method, the sample used is the LQ45 Index Company. The results shows fundamental factors include ROA, ROE, DER, EPS, and PER have a positive and significant effect on stock prices. and Inflation and interest rates have a negative and significant effect on stock prices. And simultaneously these variables have a significant and significant effect on stock prices. The study can provide a picture that stock price movements have a strong and clear influence on the company's fundamentals and are reflected in some of the ratios contained in the financial state...