Published: 2025-12-01

Pengaruh Profitabilitas, Leverage, Ukuran Perusahaan, dan Dividend Policy Terhadap Harga Saham Pada Perusahaan Indeks LQ-45 Periode 2020-2023

DOI: 10.35870/jemsi.v11i6.5075

M. Habib Bachtiar, Endang Asliana, Irawan Irawan
  • M. Habib Bachtiar: Politeknik Negeri Lampung
  • Endang Asliana: Politeknik Negeri Lampung
  • Irawan Irawan: Politeknik Negeri Lampung
Front Cover JEMSI Volume 12 Nomor 1 Februari 2026

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Abstract

This study aims to analyze the impact of profitability, leverage, company size, and dividend policy on stock prices of companies listed in the LQ45 index during the period of 2020-2023. The methodology employed is quantitative analysis with a panel data approach, utilizing multiple linear regression to test the hypotheses. Data is obtained from the financial statements of companies listed on the Indonesia Stock Exchange. The findings reveal that profitability, measured by Return on Assets (ROA), the significant value of the t-test of 0,00 <0,05 and the t-table of -12,345 shows the results of a negative effect. while Earnings Per Share (EPS) the the significant value of the t-test of 0,00 <0.05 and the t-table of 14,373 shows the positive effect. Leverage, measured by Debt to Equity Ratio (DER) the significance value of the t-test of 0,327> 0,05 and Debt to Asset Ratio (DAR) the significance value of the t-test of 0,059> 0,05, does not have a significant effect. Company size, measured by total assets, the significant value of the t-test of 0,00 <0,05 and the t-table of -11,581 shows the results of a negative effect, whereas market capitalization the the significant value of the t-test of 0,00 <0.05 and the t-table of 14,164 shows the positive effect. Dividend policy, measured by Dividend Payout Ratio (DPR), does not significantly effect stock prices, the significant value of the t-test of 0,133 >0,05.

Keywords

Profitability ; Leverage ; Company Size ; Dividend Policy ; Stock Prices ; LQ45 Index

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How to Cite

Bachtiar, M. H., Asliana, E., & Irawan, I. (2025). Pengaruh Profitabilitas, Leverage, Ukuran Perusahaan, dan Dividend Policy Terhadap Harga Saham Pada Perusahaan Indeks LQ-45 Periode 2020-2023. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 11(6), 5208-5219. https://doi.org/10.35870/jemsi.v11i6.5075
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This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.

  • Issue: Vol. 12 No. 1 (2026)

  • Section: Articles

  • Published: %750 %e, %2025

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Author Biographies
M. Habib Bachtiar
Google Scholar ResearchGate ORCID

Akuntansi Bisnis Digital, Ekonomi dan Bisnis, Politeknik Negeri Lampung, Bandar Lampung, Lampung, Indonesia.

Endang Asliana
Google Scholar ResearchGate ORCID

Akuntansi Bisnis Digital, Ekonomi dan Bisnis, Politeknik Negeri Lampung, Bandar Lampung, Lampung, Indonesia.

Irawan Irawan
Google Scholar ResearchGate ORCID

Akuntansi Bisnis Digital, Ekonomi dan Bisnis, Politeknik Negeri Lampung, Bandar Lampung, Lampung, Indonesia.

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