PROFITABILITAS, LIKUIDITAS DAN HARGA SAHAM: STUDI EMPIRIS ATAS INSTRUMEN LQ-45

Abstract

This research was conducted to determine the effect of profitability
and liquidity on stock prices. The independent variables used are return
on assets, return on equity, current ratio, and quick ratio. The population in
this study is non-financial LQ-45 companies registered in succession in 2016–
2018. This study uses secondary data derived from financial statements
that can be accessed on the Indonesia Stock Exchange. This research method
uses multiple linear regression analysis. The sampling technique used was
purposive sampling where the samples obtained in the study were 87 companies.
The results showed that (1) return on assets has a positive effect on
stock prices; (2) return on equity has a negative effect on stock prices; (3)
current ratio has no effect on stock prices; (4) quick ratio has a negative
effect on stock prices. But simultaneously return on assets, return on equity,
current ratio, and quick ratio affect the stock price of 37.4%, while the
remaining 62.6% comes from other variables that are not contained in this
research model.