Determinan Rasio Keuangan terhadap Harga Saham
DOI:
https://doi.org/10.59086/jam.v3i2.490Keywords:
Current Ratio, Total Assets Turnover, Debt to Equity Ratio, Return on AssetsAbstract
Tujuan penelitian ini adalah untuk menguji faktor faktor yang berpengaruh terhadap harga saham berdasarkan rasio keuangan yang ada yakni, Current Ratio, Total Assets Turnover, Debt to Equity Ratio, dan Return on Assets (ROA), penelitian ini menggunakan pendekatan kuatitatif dengan populasi perusahaan otomotif yang terdaftar di bursa efek Indonesia, Teknik sampel menggunakan purphosive sampling dengan Jumlah sampel sebanyak 12 perusahaan. Berdasarkan pengujian dapat disimpulan pengaruh Current Ratio, Total Assets Turnover, Debt to Equity Ratio, dan Return on Assets (ROA) terhadap harga saham dimana masing-masing rasio keuangan tersebut memiliki pengaruh yang signifikan terhadap penilaian harga saham. Keterbatasan yang perlu diperhatikan dalam penelitian ini. Antar lain hubungan antara rasio keuangan dan harga saham dapat dipengaruhi oleh faktor-faktor eksternal seperti kondisi pasar, siklus ekonomi, dan peristiwa industri tertentu. Analisis hanya mencakup hubungan kausalitas yang terobservasi dalam data, sehingga tidak dapat menunjukkan hubungan sebab-akibat yang pasti antara rasio keuangan dan harga saham. Perbedaan metodologi dan pengukuran dalam penelitian-penelitian yang berbeda dapat menghasilkan hasil yang bervariasi. Implikasi dari penelitian ini adalah bahwa manajemen perusahaan dapat menggunakan rasio keuangan ini sebagai alat untuk mengelola kinerja keuangan dan mempengaruhi persepsi pasar terhadap nilai perusahaan.
The objective of this research is to examine the factors influencing stock prices based on existing financial ratios, namely Current Ratio, Total Assets Turnover, Debt to Equity Ratio, and Return on Assets (ROA). This study adopts a quantitative approach focusing on the population of automotive companies listed on the Indonesia Stock Exchange. The sampling technique employed is purposive sampling with a total sample size of 12 companies. Based on the analysis, it can be concluded that Current Ratio, Total Assets Turnover, Debt to Equity Ratio, and Return on Assets (ROA) significantly influence stock prices, indicating their impact on stock valuation. Limitations to be considered in this study include the potential influence of external factors such as market conditions, economic cycles, and specific industry events on the relationship between financial ratios and stock prices. The analysis only covers observed causal relationships in the data, hence it cannot establish definitive cause-and-effect relationships between financial ratios and stock prices. Methodological differences across various studies may also lead to varied results. The implications of this research suggest that corporate management can utilize these financial ratios as tools to manage financial performance and influence market perceptions of corporate value.
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