APRIYANTI, MIRA (2025) PENGARUH PROFITABILITAS TERHADAP HARGA SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI VARIABEL INTERVENING (Studi Kasus Pada Perusahaan Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar di BEI 2019-2023). S1 thesis, UNIVERSITAS SULTAN AGENG TIRTAYASA.
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Abstract
This study aims to analyze the effect of profitability on stock prices, with dividend policy as an intervening variable, in food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period. Profitability is measured by Return on Assets (ROA) and Net Profit Margin (NPM), while dividend policy is proxied by the Dividend Payout Ratio (DPR). This study uses a quantitative approach with a causality method. Secondary data were obtained from the annual financial reports of companies that met purposive sampling criteria, with a total sample of 16 companies and 80 panel data observations. The analytical techniques used included the classical assumption test, path analysis, and the Sobel test to examine mediation. The results show that ROA and NPM have a significant positive effect on stock prices. Furthermore, ROA and NPM also have a significant positive effect on DPR. DPR is proven to have a significant effect on stock prices and acts as an intervening variable in the relationship between ROA and NPM and stock prices. These findings support signaling theory, which explains that profitability and dividend policy are important signals for investors in assessing company performance. The practical implications of this research are expected to inform company management in determining optimal financial policies and investors in making investment decisions in the food and beverage sector.
| Item Type: | Thesis (S1) | |||||||||
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| Additional Information: | Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas terhadap harga saham dengan kebijakan dividen sebagai variabel intervening pada perusahaan manufaktur sub sektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) periode 2019–2023. Profitabilitas diukur dengan Return on Assets (ROA) dan Net Profit Margin (NPM), sementara kebijakan dividen diproksikan oleh Dividend Payout Ratio (DPR). Penelitian ini menggunakan pendekatan kuantitatif dengan metode kausalitas. Data sekunder diperoleh dari laporan keuangan tahunan perusahaan yang memenuhi kriteria purposive sampling, dengan total sampel 16 perusahaan dan 80 observasi data panel. Teknik analisis yang digunakan meliputi uji asumsi klasik, analisis jalur (path analysis), dan uji Sobel untuk menguji pengaruh mediasi. Hasil penelitian menunjukkan bahwa ROA dan NPM berpengaruh positif signifikan terhadap harga saham. Selain itu, ROA dan NPM juga berpengaruh positif signifikan terhadap DPR. DPR terbukti berpengaruh signifikan terhadap harga saham dan berperan sebagai variabel intervening dalam hubungan ROA dan NPM terhadap harga saham. Temuan ini mendukung teori sinyal yang menjelaskan bahwa profitabilitas dan kebijakan dividen menjadi sinyal penting bagi investor dalam menilai kinerja perusahaan. Implikasi praktis penelitian ini diharapkan dapat menjadi bahan pertimbangan bagi manajemen perusahaan dalam menentukan kebijakan keuangan yang optimal dan bagi investor dalam pengambilan keputusan investasi di sektor makanan dan minuman. | |||||||||
| Uncontrolled Keywords: | DPR, Stock Price, Dividend Policy, NPM, Profitability, ROA. DPR, Harga Saham, Kebijakan Dividen, NPM, Profitabilitas, ROA. | |||||||||
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management | |||||||||
| Divisions: | 05-Fakultas Ekonomi dan Bisnis 05-Fakultas Ekonomi dan Bisnis > 61201-Program Sarjana Manajemen |
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| Depositing User: | Mrs Mira Apriyanti | |||||||||
| Date Deposited: | 23 Oct 2025 06:46 | |||||||||
| Last Modified: | 23 Oct 2025 06:46 | |||||||||
| URI: | http://eprints.untirta.ac.id/id/eprint/55491 |
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