PENGARUH LEVERAGE DAN LIKUIDITAS TERHADAP HARGA SAHAM DENGAN PROFITABILITAS DAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI (Studi Empiris Pada Perusahaan BUMN Yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2016-2023)

Puspitasari, Arum (2025) PENGARUH LEVERAGE DAN LIKUIDITAS TERHADAP HARGA SAHAM DENGAN PROFITABILITAS DAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL MODERASI (Studi Empiris Pada Perusahaan BUMN Yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2016-2023). S1 thesis, UNIVERSITAS SULTAN AGENG TIRTAYASA.

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Abstract

This study aims to examine the effect of leverage and liquidity on stock prices, with profitability as a moderating variable. Leverage is measured by the Debt to Equity Ratio (DER), liquidity is measured by the Current Ratio (CR), profitability is measured by Return on Equity (ROE), and dividend policy is measured by the Dividend Payout Ratio (DPR). The population of the study includes of state-owned companies listed on the Indonesia Stock Exchange during the period 2016–2023. The sampling method used is purposive sampling, resulting in a total of 19 selected companies and 151 research observations. The analytical techniques employed are multiple linear regression and Moderated Regression Analysis (MRA), using SPSS software version 23. The results of this study indicate that leverage has a significant negative effect on stock prices, while liquidity has a significant positive effect. Profitability is proven to significantly moderate the relationship between leverage and liquidity on stock prices. Meanwhile, dividend policy does not show a moderating role in the relationship between leverage and liquidity on share prices.

Item Type:

Thesis (S1)

Contributors:

Contribution	Contributors	NIP/NIM
Thesis advisor	Hasanudin, Agus Ismaya	197710232002121001
Thesis advisor	Astuti, Kurniasih Dwi	197601142010122001

Additional Information:

Penelitian ini bertujuan untuk mengetahui Pengaruh Leverage dan Likuiditas tehadap Harga Saham dengan Profitabilitas sebagai variabel Moderasi. Leverage yang diukur dengan Debt to Equity Ratio (DER), likuiditas yang diukur dengan Current Ratio (CR), profitabilitas yang diukur dengan Return On Equity (ROE), dan kebijakan dividen yang diukur dengan Dividen Payout Ratio (DPR). Populasi penelitian ini adalah perusahaan BUMN yang terdaftar di Bursa Efek Indonesia tahun 2016-2023. Metode pemilihan sampel yang digunakan adalah purposive sampling dan terpilih 19 perusahaan dengan total sampel 151 data penelitian. Teknik analisis yang digunakan adalah regresi linear berganda dan Moderated Regression Analysis (MRA) dengan software SPSS versi 23. Hasil penelitian ini menunjukkan bahwa leverage berpengaruh negatif signifikan terhadap harga saham, sementara likuiditas berpengaruh positif signifikan. Profitabilitas terbukti mampu memoderasi pengaruh leverage dan likuiditas terhadap harga saham secara signifikan. Sedangkan, kebijakan dividen tidak menunjukkan peran moderasi dalam hubungan leverage maupun likuiditas terhadap harga saham.

Uncontrolled Keywords:

Leverage, Liquidity, Stock Prices, Profitability, Dividend Policy. Leverage, Likuiditas, Harga Saham, Profitabilitas, Kebijakan Dividen.

Subjects:

H Social Sciences > HF Commerce
H Social Sciences > HF Commerce
H Social Sciences > HF Commerce > HF5601 Accounting
H Social Sciences > HF Commerce > HF5601 Accounting

Divisions:

05-Fakultas Ekonomi dan Bisnis
05-Fakultas Ekonomi dan Bisnis > 62201-Program Sarjana Akuntansi

Depositing User:

Mrs Arum Puspitasari

Date Deposited:

19 Aug 2025 04:41

Last Modified:

19 Aug 2025 04:41

URI:

http://eprints.untirta.ac.id/id/eprint/52127

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