THE EFFECT OF LIQUIDITY, PROFITABILITY, FIRM SIZE, AND CAPITAL STRUCTURE ON STOCK PRICES OF IDX30 COMPANIES FOR THE 2019–2023 PERIOD

Sari ; Tenny Afriani ; Said ; Hakim ; Astrid Dita Meirina
International Journal Management and Economic (IJM... 📅 2025 Vol 4, No 3 🔗 DOI: 10.56127/ijme.v4i3.2256
Abstract
This study investigates the effect of liquidity, profitability, firm size, and capital structure on stock prices of companies included in the IDX30 index during the period under review. Using a quantitative approach, multiple linear regression was employed to analyze secondary data obtained from annual reports and financial statements. The analysis reveals that liquidity and capital structure have a positive and significant influence on stock prices, indicating that higher current ratios and optimal debt levels tend to enhance market valuation. In contrast, profitability and firm size show no significant impact, suggesting that these variables may not be primary determinants of stock price movements within the observed sample. The results support the signaling theory and capital structure theory while offering practical insights for investors and corporate managers in formulating strategies to optimize firm value. These findings contribute to the literature on capital market performance in emerging economies.
Keywords
Liquidity; Profitability; Firm Size; Capital Structure; Stock Prices
How to Cite

Sari, et al. (2025). THE EFFECT OF LIQUIDITY, PROFITABILITY, FIRM SIZE, AND CAPITAL STRUCTURE ON STOCK PRICES OF IDX30 COMPANIES FOR THE 2019–2023 PERIOD. International Journal Management and Economic (IJME), 4(3). https://doi.org/10.56127/ijme.v4i3.2256

Sari, Tenny Afriani; Said; Hakim, Astrid Dita Meirina, "THE EFFECT OF LIQUIDITY, PROFITABILITY, FIRM SIZE, AND CAPITAL STRUCTURE ON STOCK PRICES OF IDX30 COMPANIES FOR THE 2019–2023 PERIOD," International Journal Management and Economic (IJME), vol. 4, no. 3, 2025.

Sari, Tenny Afriani; Said; Hakim, Astrid Dita Meirina. "THE EFFECT OF LIQUIDITY, PROFITABILITY, FIRM SIZE, AND CAPITAL STRUCTURE ON STOCK PRICES OF IDX30 COMPANIES FOR THE 2019–2023 PERIOD." International Journal Management and Economic (IJME), vol. 4, no. 3, 2025.

Sari, Tenny Afriani; Said; Hakim, Astrid Dita Meirina. "THE EFFECT OF LIQUIDITY, PROFITABILITY, FIRM SIZE, AND CAPITAL STRUCTURE ON STOCK PRICES OF IDX30 COMPANIES FOR THE 2019–2023 PERIOD." International Journal Management and Economic (IJME) 4, no. 3 (2025).

Sari, et al. (2025) 'THE EFFECT OF LIQUIDITY, PROFITABILITY, FIRM SIZE, AND CAPITAL STRUCTURE ON STOCK PRICES OF IDX30 COMPANIES FOR THE 2019–2023 PERIOD', International Journal Management and Economic (IJME), 4(3). doi: 10.56127/ijme.v4i3.2256.

Sari, Tenny Afriani; Said; Hakim, Astrid Dita Meirina. THE EFFECT OF LIQUIDITY, PROFITABILITY, FIRM SIZE, AND CAPITAL STRUCTURE ON STOCK PRICES OF IDX30 COMPANIES FOR THE 2019–2023 PERIOD. International Journal Management and Economic (IJME). 2025;4(3).

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