The effect of capital structure, working capital ratio, and firm size towards stock price in manufacturing companies listed on the LQ45 index

Fransisca, Shania (2022) The effect of capital structure, working capital ratio, and firm size towards stock price in manufacturing companies listed on the LQ45 index. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

In this era of globalization, competition in the industrial sector continues to grow. The development of a country's business sector is one sign of its success in the current era of globalization. In Indonesia, many manufacturing businesses are competing for international market share and developing competitive advantages for their products to attract customers to buy them and investors to participate in the company through share purchase. This study aims to investigate the effect of variable capital structure, working capital ratio, and firm size as independent variables on stock price as a dependent variable. This research was conducted using quantitative research methods using secondary data that was taken from the manufacturing companies that are listed on the LQ45 index, with a population of 8 companies. The samples are obtained using a purposive sampling method. The total sample is 40 companies from the years 2016-2020. The data analysis uses multiple linear regression analysis. Based on the results of research and analysis using SPSS 24, it is indicated that capital structure and firm size have a negative but insignificant impact on stock price. The working capital ratio has a significant negative impact on the stock price. It is concluded that there are other factors that can affect the stock price, which are yet to be discussed in this research./Di era globalisasi ini, persaingan di bidang industri terus berkembang. Perkembangan sektor bisnis suatu negara merupakan salah satu tanda keberhasilannya di era globalisasi saat ini. Di Indonesia, banyak pelaku usaha manufaktur yang berlomba-lomba memperebutkan pangsa pasar internasional dan mengembangkan keunggulan bersaing produknya untuk menarik minat konsumen membelinya dan investor untuk ikut serta dalam perusahaan melalui pembelian saham. Penelitian ini bertujuan untuk mengetahui pengaruh variabel struktur modal, rasio modal kerja, dan ukuran perusahaan sebagai variabel bebas terhadap harga saham sebagai variabel terikat. Penelitian ini dilakukan dengan menggunakan metode penelitian kuantitatif dengan menggunakan data sekunder yang diambil dari perusahaan manufaktur yang terdaftar dalam indeks LQ45, dengan populasi 8 perusahaan. Pengambilan sampel dilakukan dengan metode purposive sampling. Jumlah sampel sebanyak 40 perusahaan dari tahun 2016-2020. Analisis data menggunakan analisis regresi linier berganda. Berdasarkan hasil penelitian dan analisis dengan menggunakan SPSS 24 menunjukkan bahwa struktur modal dan ukuran perusahaan berpengaruh negatif tetapi tidak signifikan terhadap harga saham. Rasio modal kerja berpengaruh negatif signifikan terhadap harga saham. Disimpulkan bahwa masih ada beberapa faktor lain yang dapat mempengaruhi harga saham, yang belum dibahas dalam penelitian ini.

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