Article Sidebar
Download
Statistic
Read Counter : 660
Download : 324
Main Article Content
Abstract
This study aims to examine internal financial factors with financial ratios beta value, acid-test ratio, total assets, financial leverage, and operating profit margin on stock prices. The data collection technique uses secondary data from 14 food and beverage companies with IPOs listed on the IDX for 2012-2019. Data analysis was performed using a panel data regression test with Eviews 9.0 application. The results showed that beta value, financial leverage, operating profit margin had no significant effect on stock prices. However, the acid-test ratio had a significant adverse impact on stock prices, and total assets significantly positively affected stock prices. Thus, the study results can be used as a reference for companies in maintaining and increasing their stock price from financial factors that can influence it. It is also helpful for investors as a consideration in choosing companies to invest in. The update in the research lies in the way the data is tested, namely using a panel data regression test with a sampling period of 8 years (2012-2019 period).
Keywords
beta value,
acid test ratio,
total assets,
financial leverage,
and operating profit margin.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
By exercising the Licensed Rights, You accept and agree to be bound by the terms and conditions of this Creative Commons Attribution-NonCommercial 4.0 International Public License.
How to Cite
Azra, R. A., Saruksuk, Y. M., Indriyani, E. Y., & Leon, F. M. (2021). Analysis of Internal Financial Factors Affecting Stock Prices in Food and Beverage Companies in Indonesia. Kontigensi : Jurnal Ilmiah Manajemen, 9(2), 590-604. https://doi.org/10.56457/jimk.v9i2.214
References
- Admi, A. P., Erlina, & Tarmizi. (2019). The Effect of Liquidity, Leverage Ratio, Activities and Profitability on Stock Prices With Dividend Policy As Intervening Variables in Manufacturing Companies in Indonesia and Malaysia 2015-2017. Journal of Public Budgeting, Accounting and Finance., 2(2), 1–14. http://ijpbaf.org/index.php/ijpbaf/article/view/174
- Agustami, S., & Syahida, P. (2019). Pengaruh Nilai Pasar, Profitabilitas, dan Leverage terhadap Harga Saham (Studi pada Perusahaan Sektor Industri Barang Konsumsi yang Terdaftar di Bursa Efek Indoesia (BEI) Periode 2013—2017). Organum: Jurnal Saintifik Manajemen Dan Akuntansi, 2(2), 84–103. https://doi.org/10.35138/organum.v2i2.52.
- Alamsyah, M. F., (2019). Pengaruh Profitabilitas, Ukuran Perusahaan dan Nilai Pasar terhadap Harga Saham pada Sub Sektor Pertambangan Logam dan Mineral di Bursa Efek Indonesia (BEI). Jurnal Manajemen, 11(2), 170–178. http://journal.feb.unmul.ac.id/index.php/JURNALMANAJEMEN/article/view/5747
- Alfianto, R. F., (2016). Pengaruh rasio keuangan pada harga saham di perusahaan manufaktur yang terdaftar di bei. STIE Perbanas Surabaya. http://eprints.perbanas.ac.id/327/1/ARTIKEL%20ILMIAH.pdf
- Alici, A., & Sevil, G. (2020). Analysis of Internal Financial Factors Affecting Stock Price in Airline Businesses. The Journal of International Scientific Researches, 5(Ek), 28–46. https://doi.org/10.23834/isrjournal.835671
- Amanda, W. B. B. A., & Pratomo, W. A. (2013). Analisis Fundamental dan Resiko Sistematik Terhadap Harga Saham Perbankan yang Terdaftar Pada Indeks LQ 45. Jurnal Ekonomi dan Keuangan, 1(3), 14728. https://media.neliti.com/media/publications/14728-ID-analisis-fundamental-dan-resiko-sistematik-terhadap-harga-saham-perbankan-yang-t.pdf
- Azaro, K., Djajanto, L., & Sari, P. A. (2020). The Influence of Financial Ratios and Firm Size on Firm Value (An Empirical Study on Manufacturing Companies Sector Consumers Goods Industry Listed in Indonesian Stock Exchange in 2013–2017). 136(Ambec 2019), Global Business and Management Research: An International Journal Vol. 12, No. 4. 142–147. https://doi.org/10.2991/aebmr.k.200415.028
- Batubara, H. C., & Purnama, N. I. (2018). Pengaruh current ratio, return on equity terhadap harga saham pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Jurnal Riset Finansial Bisnis, 2(2), 61-70. http://www.ejurnal.id/index.php/jrfb/article/view/188
- Chowdhury, M. T., Sarkar, A., Paul, S. K., & Moktadir, M. A. (2020). A case study on strategies to deal with the impacts of the COVID-19 pandemic in the food and beverage industry. Operations Management Research. https://doi.org/10.1007/s12063-020-00166-9
- Devi, S. K., Mardani, R. M., & Salim, M. A. (2018). Pengaruh Dividen Payout Ratio (DPR), Return On Equity (ROE), Financial Leverage (FL) dan Price Earning Ratio (PER) Terhadap Harga Saham.(Studi Kasus Pada Perusahaan Food and Beverage yang terdaftar di Bursa Efek Indonesia Periode 2012-2016). Jurnal Ilmiah Riset Manajemen, 7(02). http://riset.unisma.ac.id/index.php/jrm/article/viewFile/863/858
- Durrah, O., Rahman, A. A. A., Jamil, S. A., & Ghafeer, N. A. (2016). Exploring the relationship between liquidity ratios and indicators of financial performance: An analytical study on industrial food companies listed in Amman Bursa. International Journal of Economics and Financial Issues, 6(2), 435–441. https://www.econjournals.com/index.php/ijefi/article/view/2045
- Enidiawati, V. (2020). Analisis Faktor-Faktor Fundamental dan Risiko Sistematik terhadap Harga Saham Perusahaan Properti yang Terdaftar di Bursa Efek Indonesia Tahun 2016-2018. Jurnal Ilmiah Riset Manajemen. 9(19). http://www.riset.unisma.ac.id/index.php/jrm/article/viewFile/8333/6933
- Hutauruk, M. R. (2020). The influence of fundamental factors and stock outlook performance and company size on the price of shares of oil palm plantation companies on the Indonesia stock exchange. K-Publisher An official Publication of Kobia Data Limited K-Publisher An official P. 1(1), 1–13. http://k-publisher.com/AJEBA/index.php/2020/05/27/the-influence-of-fundamental-factors-and-stock-outlook-performance-and-company-size-on-the-price-of-shares-of-oil-palm-plantation-companies-on-the-indonesia-stock-exchange/
- Iqbal, A., Raza, H., Aslam, M. F., & Mubin, M. (2016). Impact of Leverages on Share Price: Evidence from Cement Sector of Pakistan. Industrial Engineering Letters, 6(6), 44-48–48. https://ssrn.com/abstract=2910682
- Latifah, S. N., Wahono, B., & Khalikussabir, K. (2020). Pengaruh Indeks Harga Saham Gabungan (IHSG), Volume Perdagangan dan Risiko Sistematik Terhadap Harga Saham (Studi Kasus pada Perusahaan Manufaktur Sektor Properti, Real Estate Dan Building Construction yang Terdaftar Dalam BEI Tahun 2015-2019). Jurnal Ilmiah Riset Manajemen, 9(04). http://www.riset.unisma.ac.id/index.php/jrm/article/view/7593
- Mahdi, M., & Khaddafi, M. (2020). The Influence of Gross Profit Margin, Operating Profit Margin, and Net Profit Margin on the Stock Price of Consumer Good Industry in the Indonesia Stock Exchange on 2012-2014. International Journal of Business, Economics, and Social Development, 1(3), 153-163. https://journal.rescollacomm.com/index.php/ijbesd/article/view/53
- Mardiati, D, Yusrizal, dan Hayati, R., (2019). The Analysis of The Return on Equity, Earning Per Share and Operating Profit Margin Against Stock Price of Manufacture Companies and Beverages Listed on The Indonesia Stock Exchange From 2013-2017. Jurnal Akuntansi, Kewirausahaan Dan Bisnis, 4(1), 71–82. ISSN 2527-8215. http://www.ejournal.pelitaindonesia.ac.id/ojs32/index.php/KURS/article/view/455
- Monny, M. (2016). Analisis Pengaruh Earning Per Share, Dividend Per Share, dan Financial Leverage Terhadap Harga Saham pada Perusahaan yang Terdaftar dalam Indeks LQ-45 di Bursa Efek Indonesia (BEI). FIN-ACC (Finance Accounting), 1(1). http://journal.widyadharma.ac.id/index.php/finacc/article/view/52
- Muhammad, T. T., & Rahim, S. (2019). Pengaruh Tingkat Likuiditas Dan Profitabilitas Terhadap Harga Saham Pada Perusahaan Manufaktur Yang terdaftar Di Bursa Efek Indonesia (BEI). Jurnal Akuntansi Aktual, 3(2), 117-126. http://journal2.um.ac.id/index.php/jaa/article/view/7171
- Mulyadi, J. M. V., & Wiratno, A. (2018). Analisis Pengaruh Debt to Equity Ratio, Return On Equity, Current Ratio, Operating Profit Margin Dan Inflasi Terhadap Harga Saham (Studi Pada Perusahaan Barang Konsumsi Yang Terdaftar di BEI). EKOBISMAN-JURNAL EKONOMI BISNIS DAN MANAJEMEN, 3(2), 122-137. http://103.75.102.195/index.php/ekobisman/article/view/871
- Ningrum, E. W., Mardani, R. M., & ABS, K. (2017). Pengaruh Rasio Likuiditas Dan Rasion Profitabilitas terhadap Harga Saham (Studi Pada Perusahaan Manufaktur Subsektor Kimia Yang Terdaftar di BEI Periode 2015-2017). E – Jurnal Riset Manajemen, Idx, 93–105. http://riset.unisma.ac.id/index.php/jrm/article/view/2327
- Omobolade, O. S., Seriki, A. I., & Kola, O. J. (2020). Determinants of Bank Credit Risk: Evidence from Deposit Money Banks in Nigeria. Islamic University Multidisciplinary Journal (IUMJ), v. 7 (3), 93-102. ISSN 2617-6513. https://www.iuiu.ac.ug/iumj/ArticleDetails.aspx?jid=15&did=264
- Purba, M. A. (2019). Pengaruh Earning Per Share, Dividend Per Share Dan Financial Leverage Terhadap Harga Saham Pada Perusahaan Food and Beverage Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Akuntansi Barelang, 4(1), 86-95. http://ejournal.upbatam.ac.id/index.php/jab/article/view/1480
- Rahmani, D. A., Nugraha, N., & Waspada, I. P. (2017). Pengaruh Faktor-Faktor Fundamental dan Risiko Sistematis Terhadap Harga Saham. Jurnal Ilmu Manajemen dan Bisnis, 8(1), 17-21. https://ejournal.upi.edu/index.php/mdb/article/view/12657
- Rofiqoh, A., & Mukaffi, Z. (2021, April). The Effect of Systematic Risk (Beta) on Stock Prices with Interest Rates and Curses as Moderation Variables. In International Conference on Engineering, Technology and Social Science (ICONETOS 2020) (pp. 26-33). Atlantis Press. https://www.atlantis-press.com/proceedings/iconetos-20/125955734
- Sarkodi, E. E., Addai, I. & Asiedu, D. K., (2015). Financial Ratios (Accounting Ratios) and Survival of Microfinance Institutions in Ghana. Journal of Business & Financial Affairs, 04(03), 8–11. https://doi.org/10.4172/2167-0234.1000151
- Sugiarto, E., Pradana, M. G., & Muhtarom, A. (2017). Saham Pada Perusahaan Manufaktur Di Bursa Efek Indonesia ( Studi Pada Perusahaan Astra Otoparts , Astra International , Dan Bata. Media Mahardhika, 17(2), 254– 263. https://ojs.stiemahardhika.ac.id/index.php/mahardika/article/view/82
- Susanto, A. S. (2012). Pengaruh Likuiditas, Profitabilitas, Solvabilitas dan Ukuran Perusahaan Terhadap Harga Saham Perusahaan Farmasi di BEI. Jurnal Akuntansi Unesa, 1(1). https://jurnalmahasiswa.unesa.ac.id/index.php/jurnal-akuntansi/article/view/285
- Wahyono, T., Nugroho, L., & Imron, M. (2019). Determinants Factors of Stock Price in Oil and Gas Sector (Indonesia Stock Exchange 2011-2016). Eurasian Journal of Business and Management, 7(2), 12–22. https://doi.org/10.15604/ejbm.2019.07.02.002
- Warrant., L. (2014). The impact of liquidity through quick ratio on share price: evidence from Jordanian banks. European Journal of Accounting Auditing and Finance Research. Vol.2, No.8, pp. 9-14. https://www.eajournals.org/journals/european-journal-of-accounting-auditing-and-finance-research-ejaafr/vol-2issue8october-2014/impact-liquidity-quick-ratio-share-price-evidence-jordanian-banks-2/
- Zaki, M., Islahuddin, & Shabri, M. (2017). Pengaruh Profitabilitas, Leverage Keuangan dan Ukuran Perusahaan Terhadap Harga Saham (Studi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2005-2014). Jurnal Megister Akuntansi, 6(2), 58–66. http://jurnal.unsyiah.ac.id/JAA/article/view/8969.
- https://accurate.id/akuntansi/quick-ratio/
- https://agro.kemenperin.go.id/berita/6406-industri-mamin-jadi-primadona-di-tengah-pandemi-covid-19