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Analytics

Mayashita Ayunindya Safitri; Anna Sumaryati

Proceeding of the International Conference on Management, Entrepreneurship, and Business 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The goal of this research is to explore the relationship between stock prices, liquidity, profitability, and leverage. This study focuses on transportation and logistics companies that were registered in the Indonesia Stock Exchange from 2021 to 2023. A quantitative approach was taken, utilizing secondary data derived from the annual financial statements of companies that were active during this time frame. The sample comprised 45 data points, selected using a purposive sampling technique. The independent variables include leverage, measured with the Debt to Equity Ratio (DER), profitability, assessed through Return on Assets (ROA), and liquidity, evaluated via the Current Ratio (CR). The dependent variable for this research is the stock price. The findings from this partial analysis reveal that liquidity significantly and negatively impacts stock price, with a t-count of -2.264 and a significance level of 0.029. However, the correlation between stock price and profitability was found to be insignificant, indicated by a significance value of 0.071 and a t-count of -1.853. Similarly, leverage does not significantly affect stock price, as evidenced by a t-count of -0.657 and a significance level of 0.515. Nonetheless, when considered collectively, the three factors of leverage, profitability, and liquidity do influence stock prices. According to the coefficient of determination (R2) test, these three variables account for 13.9% of the volatility in stock prices, leaving the remaining 86.1% to be attributed to external factors not examined in this study.

Siti Fayyaza Azzahra; Kamila Septianda Azura; Muhammad Dzaky Akmal Khair; Garcinia Dewi Safitri; Nurfitri Cahyaningtias +2 more

Botani : Publikasi Ilmu Tanaman dan Agribisnis 2025 Asosiasi Riset Ilmu Tanaman Dan Hewani Indonesia

The development of value-added corn-based beverages representation an emerging opportunity within the agribusiness sector, particularly for student-led entrepreneurial initiatives seeking to utilize local agricultural resources. This study examines consumer perceptions of Zeagrain corn milk, a sweet-corn-derived drink positioned as a healthy, practical, and affordable alternative within the ready-to-drink market segment. The research aims to identify key attributes influencing consumer interest, evaluate perceived product performance, and assess the potential competitiveness of Zeagrain as a new agribusiness product. Data were collected using an online quantitative survey targeting respondents aged 17–35 years who represent potential urban consumers. The questionnaire measured demographic characteristics, consumption patterns of similar beverages, perceived importance and performance of product attributes, and purchase intention. The findings are expected to provide insights into consumer expectations regarding taste, packaging, nutritional value, and price. The results further serve as empirical input for improving product development strategies and enhancing the market readiness of Zeagrain. Ultimately, this study contributes to strengthening the commercialization prospects of corn-based beverages and supports innovation efforts among young agripreneurs seeking to optimize local commodities.  

Yayu Yunengsih Rahayu; Mudrika Mudrika; De Dita Nur Padilah; Ryan Ahmad Zaelani; Ira Murwenie

Jurnal Bisnis Kreatif dan Inovatif 2025 Asosiasi Riset Ilmu Manajemen dan Bisnis Indonesia

This study aims to analyze the effect of the price of packaged cooking oil and bulk cooking oil on the elasticity of demand as one of the staple foods in Ciawitali Market, Garut Regency. The approach used is a quantitative descriptive method with a focus on associative analysis. Data were collected through observation and interviews in the period of September and October 2025. Then processed using simple linear regression analysis and demand elasticity analysis. The results show that the demand for both types of cooking oil is strongly influenced by price. For packaged cooking oil, it shows that 81.6% of the variation is influenced by price while the rest is influenced by other factors. For bulk cooking oil, it shows that 94.1% is influenced by price with an elasticity value of -6.346, which also shows elastic properties but lower than packaged oil which has an elasticity of -22.15. These results indicate that the increase in the price of packaged and bulk oil significantly reduces the amount of demand, with the greatest effect occurring on packaged oil because consumers tend to switch to more economical bulk oil.

Restu Ade Nugraha; Anita Anita; Nuril Aulia

Jurnal Manajemen Kewirausahaan dan Teknologi 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to examine the influence of brand image, location, and price on customers’ purchase intention at the USD Bundle thrifting store in Kediri. This research employed a quantitative approach using purposive sampling, involving 152 respondents who were active customers of USD Bundle. Data were analyzed through classical assumption tests, multiple linear regression, t-test, and F-test using SPSS 25. The results indicate that brand image, location, and price each have a positive and significant effect on purchase intention. Simultaneously, these variables also show a positive and significant impact, with a coefficient of determination (R²) of 0.954, meaning that 95.4% of the variation in purchase intention is explained by brand image, location, and price. These findings highlight that a strong brand image, strategic location, and competitive pricing play essential roles in increasing customer purchase intention in thrifting businesses, particularly within urban environments such as Kediri City.

Muhamad Sandi Pratama; Rosaidah Permanasari; Eka Budi Yulianti

Kajian Ekonomi dan Akuntansi Terapan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to see the effect of Debt to Equity Ratio (DER) and Return on Assets (ROA) on Stock Price in PT. Wilmar Cahaya Indonesia, Tbk which is listed on the IDX during the period 2015–2022. The data used in this study is in the form of the company's annual financial statements obtained through secondary sources. This study uses a quantitative approach with multiple linear regression analysis methods, while data processing is carried out using the SPSS application. The results of the study show that partially the Debt to Equity Ratio (DER) variable has a negative effect on the Share Price, while the Return on Assets (ROA) does not have a positive effect on the company's Share Price. However, the results of the simultaneous test show that DER and ROA together have a positive and significant influence on the Stock Price. These findings provide an idea that the combination of capital structure and profitability remains an important indicator in assessing the performance of a company's shares even though their partial relationships show different tendencies. In addition, this research can be a reference for investors in considering the company's fundamental condition before making investment decisions, as well as provide additional insights for management in managing the capital structure more optimally.

Ni Made Ari Wahyuni; Anak Agung Gde Putu Widanaputra

International Journal of Entrepreneurship and Management 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Firm value reflects investors’ perception of a company’s success, which is generally measured through its stock price. To enhance firm value, companies are required to manage their operations with integrity, efficiency, and professionalism, while safeguarding stakeholders’ interests through the implementation of Good Corporate Governance (GCG). GCG establishes a framework governing the relationships among shareholders, management, creditors, and the government in relation to their respective rights and responsibilities. In addition to GCG, environmental performance also plays an important role in influencing firm value. Effective corporate management should therefore align with the three dimensions of the Triple Bottom Line framework: profit, people, and planet. This study aims to obtain empirical evidence on the effect of Good Corporate Governance implementation and environmental performance on firm value. The research was conducted on manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. A total of 41 companies were selected as samples using the purposive sampling method. Data were collected from the official IDX website (www.idx.id) and the respective companies’ official websites. The data were analyzed using multiple linear regression analysis. The results indicate that the independent board of commissioners, board of directors, and environmental performance have a positive and significant effect on firm value. However, the audit committee does not have a significant effect on firm value.

Dila Agustina Ramadani; Ari Susanti

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the influence of price and product quality on purchasing decisions for personal care products manufactured by PT Mandom Indonesia Tbk. The topic was chosen in response to increasingly intense competition in the cosmetics industry, along with a decline in sales performance of several Mandom products, which highlights the need for the company to better understand key factors affecting consumer purchasing behavior. The research employed a quantitative approach using a survey method. Primary data were collected through questionnaires distributed to 100 respondents who use Mandom products, selected through purposive sampling. Prior to analysis, the research instruments were tested for validity and reliability to ensure the accuracy and consistency of the data. The data were then analyzed using multiple linear regression techniques. The results indicate that price has a positive and significant effect on purchasing decisions and is the most dominant influencing factor. This finding suggests that consumers place strong emphasis on the suitability between price and perceived benefits when making purchasing decisions. Product quality also shows a positive and significant influence, although its effect is relatively smaller compared to price. Simultaneously, price and product quality explain a portion of the variation in purchasing decisions, while other factors outside the study also contribute. Based on these findings, PT Mandom Indonesia Tbk is advised to prioritize competitive pricing strategies while consistently maintaining product quality to enhance purchase intentions and strengthen consumer loyalty.

Rama Setiawan

Shipping and Transport Management Journal 2025 Indonesian Maritime Researchers and Lecturers

Customer Loyalty is critically influenced by several factors, including Service Quality, Customer Trust, and Price.1 This study aims to analyze the partial and simultaneous influence of Service Quality (X_1), Customer Trust (X_2), and Price (X_3) on Customer Loyalty (Y) toward Maxim online transportation services in Semarang City.1 Utilizing a quantitative associative method, data were collected from a sample of 100 Maxim users (N=100) via incidental sampling and analyzed using multiple linear regression (SPSS).1 The analysis confirmed that all three independent variables positively and significantly influence Customer Loyalty (all t_{hitung} > 1.98498).1 Service Quality (X_1) was determined to be the most dominant factor (\beta = 0.400, t=4.500), highlighting that driver performance, service assurance, and responsiveness are the primary drivers of long-term loyalty., 10 The overall regression model demonstrated a strong explanatory power, with an estimated Adjusted R^2 of 0.650, indicating that 65.0\% of the variation in Customer Loyalty is explained by these three factors. Managerial implications suggest focusing resources on continuous service improvement and maintaining high integrity (Trust) to convert consumer satisfaction into sustainable loyalty.

Putri, Zahra Adeliya Suharno; Fathihani; Sulistiyowati, Rini

This study aims to analyze the Effect of Return on Equity (ROE), Total Asset Turnover (TATO), Net Profit Margin (NPM) on Stock Prices in food and beverage companies listed on the Indonesia Stock Exchange for the 2020-2024 period. The approach in this study is to use a quantitative approach, and based on the objectives, this type of research is causal. The independent variables in this study include Return on Equity (ROE), Total Asset Turnover (TATO), and Net Profit Margin (NPM) and the dependent variable in this study is Stock Price. The population in this study is food and beverage companies listed on the Indonesia Stock Exchange, totaling 27 companies for the 2020-2024 period. This study uses the Purposive Sampling method, selecting 18 companies multiplied by 5 periods, resulting in a sample size of 90 samples in this study. This study uses descriptive statistical analysis using secondary data with descriptive statistical tests. Continued with the classical assumption test using the multiple regression model hypothesis testing method. This study uses panel data regression tool analysis with the help of SPSS 26 application tools. The results of the study show that: (a) Return on equity (ROE) has a positive effect on share prices, (b) Total Asset Turnover (TATO) does not have an effect on share prices, (c) Net Profit Margin (NPM) has a positive effect on share prices.

Listianna, Ferrizha; Nadhiroh, Umi; Arida, Ririn Wahyu

Populer: Jurnal Penelitian Mahasiswa 2025 Universitas Maritim AMNI Semarang

The purpose of this research is to analyze and find out how the company's growth, capital structure and company size affect stock prices in sub-sector, ceramics, porcelain and glass companies listed on the IDX for the 2018-2023 period. This research is an associative quantitative research using secondary data taken from the company's annual financial statements. The sampling technique in this study uses purposive sampling. In this study, 48 samples were obtained for 6 years (20182023). The analysis tool used in the regression analysis of panel data was conducted using E-views 13. Based on the research that has been carried out, it can be concluded that the company's growth partially has a significant effect on the stock price, the company's capital structure and size partially do not have a significant effect on the stock price. Then  the company's growth, capital structure and company size simultaneously have a significant effect on the stock price of companies in the ceramics, porcelain and glass sub-sector listed on the IDX for the 2018-2023 period.

Meilan Sigar; Lailany Yahya; Salmun K. Nasib; Nisky Imansyah Yahya; Djihad Wungguli

Bilangan : Jurnal Ilmiah Matematika, Kebumian dan Angkasa 2025 Asosiasi Riset Ilmu Matematika dan Sains Indonesia

Rapid developments in information technology have made laptops an essential device for students, especially those in their final year of study. Choosing the right laptop plays an important role in supporting academic productivity, such as writing theses, analyzing data, and developing software. This study aims to classify the preferences of mathematics students at Gorontalo State University in choosing laptops based on usage characteristics and factors that influence purchasing decisions. The method used is Kernel Discriminant Analysis (KDA) with a Gaussian kernel function and an optimal bandwidth of 0.8. The research data involved 268 respondents divided into training and testing data. The analysis results show that the KDA model has an accuracy rate of 60% on the training data and 52% on the testing data, which indicates the model's ability to recognize student preference patterns despite a decrease in accuracy on new data. Based on the kernel density estimation results, Acer is the most widely used laptop brand, while Zyrex and Apple are rarely chosen. The most influential factor in purchasing decisions is processor specifications, with a contribution of 35.739%, followed by brand, warranty, and price. These findings indicate that hardware characteristics are the main consideration in laptop selection, with most students choosing laptops with Intel Core i5 processors, a minimum of 8GB of RAM, and SSD storage. The results of this study can also be used by universities to provide recommendations for selecting laptops that suit students' academic needs.  

Qawiema Nashita; Rian Surenda

Jurnal Manajemen Pariwisata dan Perhotelan 2025 International Forum of Researchers and Lecturers

This research is motivated by the phenomenon found by researchers on consumer satisfaction related to physical evidence, store atmosphere and price of Muaro Terrace Cafe & Resto. This research is quantitative in nature and uses a causal associative approach through the survey method. The population of this study were consumers at Muaro Terrace Cafe & Resto with purposive sampling method obtained a sample of 150 respondents. The results of this study are the average respondent on the physical evidence variable 82.0% with good criteria, the store atmosphere variable 81.5% with good criteria, the price variable 80.5% with a good category then concluded that the average respondent of the consumer satisfaction variable was 82.3% in a good category. When F count is 161.216 with a sig of 0.000 <0.05 obtained from the multiple linear regression test results, the regression can be applied. Shows physical evidence, store atmosphere and price have an important impact on customer satisfaction. The Adjust R Square value is 0.763, which indicates that although additional factors not covered in this study affect 23.7% of customer satisfaction at Muaro Terrace Cafe & Resto, the remaining 76.3% is determined by the variables of physical evidence, store atmosphere and price.

Rio Ferdinand Situmeang; Yoshida Sary

Neptunus: Jurnal Ilmu Komputer Dan Teknologi Informasi 2025 Asosiasi Riset Teknik Elektro dan Informatika Indonesia

Subcontractor selection is a crucial factor in determining the success of a construction project. The selected subcontractor not only plays a role in expediting the completion of the work but also influences the overall quality, cost, and timeliness of the project. Mistakes in decision-making, such as selecting a less competent subcontractor, can result in delays in completion, increased project costs, and even decreased construction quality. Therefore, a systematic, measurable, and objective method is needed to support the subcontractor selection process. This study aims to implement the Analytical Hierarchy Process (AHP) method as an approach in a decision support system for subcontractor selection. AHP was chosen because it can decompose complex problems into simpler structures by determining criteria weights and comparing alternatives. The criteria used in this study include expertise, work experience, timeliness of work, equipment availability, and bid price. By assigning weights to each criterion, the selection process can be carried out more transparently and measurably. The case study was conducted at PT. Tatha Group, a company engaged in the construction services sector. In this study, AHP was used to prioritize alternative subcontractors to be selected to assist in project implementation. The research results show that the AHP method produces clear, structured results and supports more accurate decision-making. Thus, the application of AHP not only minimizes subjectivity in assessments but also provides accountable recommendations for selecting the best subcontractor for the project's needs.

Meirza Ayu Humairoh; Hilda Hilda

Jurnal Riset dan Publikasi Ilmu Ekonomi 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The use of credit by the public is generally driven by the need and desire to meet certain requirements that cannot be fulfilled with cash. Credit makes it easier for people to meet their various needs, especially for those who do not have enough funds at the time. However, in practice, there are often obstacles such as payment delays, breaches of agreed-upon deadlines, and discrepancies in the recording of installment payments. These issues can create problems for both the creditor and the debtor. This study aims to examine the use of the credit concept by the community and analyze how credit helps fulfill the needs of the community. The study uses a qualitative method with a descriptive research approach. Data collection was done through observation, interviews, and document gathering. The collected data were then analyzed by presenting the data and drawing conclusions. The results of the study show that the use of the credit concept by the community in Rantau Panjang Estate to meet their needs has fulfilled the conditions of a muamalah agreement in accordance with the principles of buying and selling. First, the people involved in the transaction, namely the seller and the buyer, must meet the requirements of being rational, consenting freely, and agreeing mutually. Second, the agreement between the seller and the buyer must include the price and the payment period that both parties have agreed upon. Third, the object or goods being sold must have utility and be clearly defined in terms of its nature, size, and type. Fourth, the price must be clear, with the credit price being higher than the cash price. Additionally, the use of credit by the community in Rantau Panjang Estate has also applied the principles of the Islamic market mechanism, such as Ar-Ridha (mutual consent), healthy competition, honesty, transparency, and justice. This indicates that the credit transactions conducted are in accordance with the rules of Islam and can serve as a fair model for all parties involved.

M. Said

Jurnal Manajemen Kewirausahaan dan Teknologi 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to examine the influence of price, promotion, and product quality on the repurchase intention of Kopi Kenangan products among students of the Faculty of Social and Political Sciences, Mulawarman University. The research focuses on how effective marketing strategies can foster customer loyalty toward local coffee brands. The theoretical framework is based on the marketing mix, consumer decision-making processes, and indicators of customer loyalty. The study employs a quantitative research method, with data collected through questionnaires distributed to 100 respondents. The respondents were selected using purposive sampling, based on specific criteria determined by the researcher to ensure they could provide relevant information aligned with the research objectives. Data analysis was conducted using multiple linear regression with SPSS version 26. The findings indicate that price, promotion, and product quality each have a positive and significant effect on repurchase intention. Among these factors, product quality exerts the strongest influence, followed by promotion, and finally, price. These results suggest that enhancing product quality, implementing effective promotional strategies, and maintaining reasonable pricing can significantly increase customers’ likelihood of making repeat purchases. Based on the results, this study recommends that Kopi Kenangan continue to prioritize maintaining high and consistent product quality, as it plays a crucial role in shaping repurchase intentions. Additionally, promotional efforts should be continuously optimized to attract and retain customers in an increasingly competitive coffee market. Pricing strategies should also be monitored to remain competitive while ensuring profitability. Overall, the study concludes that product quality, supported by strategic promotions and competitive pricing, is essential for building and sustaining customer loyalty. By focusing on these factors, Kopi Kenangan can strengthen its market position and foster long-term relationships with its customers

Rahmad Efendy; Arman Syukur Zai; Anggi Dian Syafitri; Roma Pasaribu; Nurhasanah Sihotang

Maeswara : Jurnal Riset Ilmu Manajemen dan Kewirausahaan 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze in depth the structure of production cost components and determine a reasonable and competitive selling price for shrimp farming in the Venambak Shrimp Farm. The background of this study is the need to determine the cost efficiency and profit potential of shrimp farming activities, so that business actors can make the right decisions and be oriented towards sustainability. The study uses a quantitative descriptive approach with the full costing method to calculate the total production costs, and the cost plus pricing method to determine the selling price. The data used consists of primary data, such as details of operational expenses during one cultivation cycle (six months), as well as secondary data obtained from internal company reports and records. The results of the analysis show that the total production costs incurred in one shrimp cultivation cycle reached Rp16,085,208,000, with a total harvest of 1,000,000 kg. Based on these figures, the cost of goods manufactured (COGS) was obtained at Rp16,085 per kg. In determining the selling price, the company used the cost plus pricing method and set the selling price at Rp80,000 per kg. Thus, the profit margin obtained by the company reached Rp63,915 per kg. Gross profit generated during one cultivation cycle reached Rp63,915,000,000. If cultivation were conducted in two cycles per year, the annual gross profit could potentially increase to Rp127,830,000,000. These findings indicate that with efficient cost management and the right pricing strategy, shrimp farming has significant profit potential. Therefore, intensive and sustainable shrimp farming development at the Venambak Shrimp Farm is highly feasible to improve the competitiveness and welfare of fisheries business actors.

I Putu Agung Arma Wisswabawa; Made Heny Urmila Dewi

International Journal of Entrepreneurship and Management 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

 The trade of secondhand clothing at Pasar Senggol Batubulan, Gianyar Regency, has become a rapidly growing economic activity and an alternative source of income, particularly amidst limited formal employment opportunities. However, the income of secondhand clothing traders tends to fluctuate and is influenced by several internal business factors. This study aims to analyze the influence of price, business capital, working hours, and product quality on the income of secondhand clothing traders. An associative quantitative approach was used, involving 61 traders selected through a saturated sampling technique. The data analysis method applied is multiple linear regression. The findings reveal that price, capital, working hours, and product quality simultaneously have a significant effect on traders’ income. Partially, all four variables also show a significant influence. Product quality is the most dominant factor affecting income, followed by capital, working hours, and price. Adequate capital enables traders to increase stock and improve product quality. Longer working hours provide greater opportunities to serve consumers, while competitive pricing boosts sales capacity. These findings underscore the importance of managing internal business factors to enhance income and contribute to the economic empowerment of communities in the informal sector.

Ni Komang Putri Seroja; Gede Juliarsa

International Journal of Entrepreneurship and Management 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Firm value is the investors’ perception of a company's success in maximizing shareholder wealth, which is reflected through its stock price. The purpose of this study is to examine the effect of corporate social responsibility (CSR), investment decisions, and profitability on firm value in the consumer non-cyclicals sector listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period, with leverage as a control variable. This study employs a quantitative approach with an associative research design. The sample consists of 20 companies selected using purposive sampling, resulting in a total of 60 observations over three years. The analysis technique used is multiple linear regression with the assistance of SPSS software. The results show that CSR and profitability have a positive affect on firm value, while investment decisions do not have an affect. This study implies that companies need to enhance CSR practices and profitability to improve their firm value in the eyes of investors. Additionally, this study contributes theoretically to the development of literature on the factors influencing firm value and can serve as a reference for future research.

Nadap Rafi Ghungnga; Eki Neonisa; Maya Djawa

International Perspectives in Christian Education and Philosophy 2025 Asosiasi Riset Ilmu Pendidkan Agama dan Filsafat Indonesia

This study examines theologically the practice of giving dowry in Sumbanese weddings. This tradition has been passed down from generation to generation and is often associated with church weddings. Various responses to dowry, especially from Christians, are the main focus. The method used is a literature study, with the object of study being the giving of dowry in the marriages of biblical figures such as Isaac and Rebekah, Jacob and Rachel, David and Michal, and Shechem and Dinah. The theological reflections produced include: First, dowry in the Bible functions as a sign of appreciation for women and their families. Second, dowry is not coercion, but rather a way for men to show love for their future wives. Thus, dowry in Sumbanese culture does not conflict with Christian faith and has a positive value for helping each other. The implications include: First, dowry must be in accordance with the man's ability. Second, dowry should not be used as a tool to fulfill personal ambitions. Payment of dowry should be for the common good. Third, dowry must be given in an honorable manner, without justifying any means to prove the ability to pay dowry at a high price.

Ismah Fahrizah; Ashari Sofyaun; Matyani

KOMPAK : Jurnal Ilmiah Komputerisasi Akuntansi 2025 Universitas Sains dan Teknologi Komputer

This study aims to test the influence of liquidity as measured by the Current Ratio and Solvency as measured by Debt to Equity Ratio  and Profitability with Return On Equity proxy on Stock Price. The data used is secondary data from the Annual Report. The sample used in this study was 15 companies in the Food and Beverage subsector. listed on the Indonesia Stock Exchange that meets the requirements for use in research with a period of 20 20 to 2023 ( 4 years), so that the data observed is 60. This study uses a quantitative method with SPSS analysis tools . The findings of this study indicate that Liquidity has a positive effect on stock prices. Solvability and profitability partially do not affect stock prices.