Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia

Jeni Parastika ; Septa Diana Nabella ; Dewi Permata Sari ; Yandra Rivaldo ; Zaifun Nur Fatrianto
Jurnal Manajemen Riset Inovasi 📅 2026 Vol 4, No 2 🔗 DOI: 10.55606/mri.v4i2.8841
Abstract
Investment decisions in pharmaceutical manufacturing companies listed on the Indonesia Stock Exchange (IDX) are influenced by fundamental analysis and stock price fluctuations. Stock prices reflect market perceptions shaped by profitability, liquidity, and capital structure. This study examines the effects of Return on Assets (ROA), Current Ratio (CR), and Debt-to-Equity Ratio (DER) on stock prices, both partially and simultaneously. Using a quantitative approach, the study analyzes secondary data from audited financial statements and stock prices of 12 pharmaceutical companies during 2022–2024, totaling 36 observations. Panel data regression with EViews 12 is applied. Results show that ROA and DER have positive and significant effects on stock prices, while CR has a negative but insignificant effect. Simultaneously, all three variables significantly influence stock prices, with an adjusted R² of 73%, indicating strong explanatory power. Profitability (ROA) is the most influential factor, followed by capital structure (DER), while liquidity (CR) shows no significant impact.
Keywords
Capital Structure; Liquidity; Profitability; Stock Price
How to Cite

Jeni Parastika, et al. (2026). Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Manajemen Riset Inovasi, 4(2). https://doi.org/10.55606/mri.v4i2.8841

Jeni Parastika; Septa Diana Nabella; Dewi Permata Sari; Yandra Rivaldo; Zaifun Nur Fatrianto, "Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia," Jurnal Manajemen Riset Inovasi, vol. 4, no. 2, 2026.

Jeni Parastika; Septa Diana Nabella; Dewi Permata Sari; Yandra Rivaldo; Zaifun Nur Fatrianto. "Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia." Jurnal Manajemen Riset Inovasi, vol. 4, no. 2, 2026.

Jeni Parastika; Septa Diana Nabella; Dewi Permata Sari; Yandra Rivaldo; Zaifun Nur Fatrianto. "Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia." Jurnal Manajemen Riset Inovasi 4, no. 2 (2026).

Jeni Parastika, et al. (2026) 'Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia', Jurnal Manajemen Riset Inovasi, 4(2). doi: 10.55606/mri.v4i2.8841.

Jeni Parastika; Septa Diana Nabella; Dewi Permata Sari; Yandra Rivaldo; Zaifun Nur Fatrianto. Pengaruh Profitabilitas, Likuiditas, dan Struktur Modal terhadap Harga Saham Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Manajemen Riset Inovasi. 2026;4(2).

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