Pengaruh Current Ratio, Return On Equity dan Debt To Equity Ratio Terhadap Harga Saham (Pada Perusahaan Konstruksi Bangunan di Bursa Efek Indonesia Periode Tahun 2014-2023)
DOI:
https://doi.org/10.35870/jemsi.v11i2.3979Keywords:
Current Ratio, Return on Equity, Debt to Equity Ratio, Stock Price, Building ConstructionAbstract
This study aims to determine and explain the effect of Current Ratio, Return on Equity and Debt To Equity Ratio on Stock Prices in Building Construction companies listed on the Indonesia Stock Exchange for the 2014-2023 Financial Report Period with a sample of 7 companies. The research method used is quantitative with a descriptive and verification approach. Descriptive Statistical Analysis consists of Maximum Value, Minimum Value, Mean and Standard Deviation. The results of the descriptive analysis show that construction stock prices tend to decline during 2014-2023, while the financial ratios studied fluctuate and in 2020 tend to decline sharply. Verification Statistical Analysis consists of Classical Assumption Test and Multiple Linear Regression Test. Based on the results of partial hypothesis testing (t-test), the results obtained Current Ratio has no effect on Stock Price, while Return on Equity and Debt to Equity Ratio have an effect on Stock Price. While the simultaneous test through the F test, there is a simultaneous effect of Current Ratio, Return on Equity and Debt To Equity Ratio on Stock Price. Thus, the financial ratio determines investor decisions, thus affecting changes in stock prices. The absence of the Current Ratio indicates the characteristics of a building construction company where the Current Ratio cannot be used as a benchmark for increasing stock prices. Investors prefer long-term financial performance compared to short-term.
Downloads
References
Avriani, D., Effendi, M. S., & Sentosa, E. (2021). Pengaruh DER, CR, dan ROE terhadap harga saham (Perusahaan konstruksi tercatat di BEI 2012-2018). Jurnal IKRA-ITH Ekonomika, 4(1), Maret 2021.
Ferli, O., Nelmida, R. A. A., Shafira, D. E., & William, Y. (2022). Pengaruh CR, DER, dan ROE terhadap harga saham pada perusahaan consumer goods periode 2018-2021. Jurnal Keuangan dan Perbankan, 19(1), 27-36.
Ghozali, I. (2016). Desain penelitian kuantitatif dan kualitatif: untuk akuntansi, bisnis, dan ilmu sosial lainnya.
Hanafi, M. M., & Halim, A. (2018). Analisis laporan keuangan. Yogyakarta: UPP AMP YPKN.
Hery. (2018). Analisa laporan keuangan: Integrated and comprehensive (3rd ed.). Jakarta: PT Gramedia Widiasarana Indonesia.
Jogiyanto, H. (2019). Teori portofolio dan analisis investasi (11th ed.). Yogyakarta: BPFE.
Kasmir. (2018). Analisa laporan keuangan (1st ed., 12th print.). Jakarta: PT Raja Grafindo Persada.
Masdiana, M. B. (2024). Dinamika konstruksi di Indonesia. Makassar: Tohar Media.
Nahariyah, R., & Apriatni, E. P. (2017). Pengaruh current ratio (CR), debt to equity ratio (DER), return on asset (ROA), return on equity (ROE), dan earning per share (EPS) terhadap harga saham pada perusahaan sub sektor konstruksi bangunan yang terdaftar di Bursa Efek Indonesia periode 2011-2015. Jurnal Ilmu Administrasi Bisnis, 6(4), 310-324.
Oktalia, R., dkk. (2020). Analisis kinerja keuangan pada PT. Bank Pembangunan Daerah Sumatera Selatan dan Bangka Belitung. Jurnal Media Akuntansi, 2(1).
Partomuan, F. T., & Simamora, S. C. (2021). Pengaruh CR, DER, dan ROE terhadap harga saham pada perusahaan sub sektor konstruksi yang terdaftar di Indeks IDX Value 30 periode 2015-2019. Jurnal Inovatif Mahasiswa Manajemen, 1(3), 242-255.
Riyanto, B. (2018). Dasar-dasar pembelanjaan perusahaan (4th ed.). Yogyakarta: BPFE.
Sari, R. (2019). Pengaruh current ratio, return on equity, dan debt to equity ratio terhadap harga saham pada perusahaan konstruksi bangunan. YUME: Journal of Management. ISSN: 2614-851X (Online).
Selvia, M., & Syarif, D. (2024). Pengaruh current ratio, return on equity, dan debt to equity ratio terhadap harga saham pada perusahaan manufaktur sub sektor property dan real estate yang terdaftar di Bursa Efek Indonesia pada tahun 2014-2023. Economic Reviews Journal, 3(2), 1397-1409. https://doi.org/10.1007/s2830-6449-2024.
Sugiyono. (2022). Metode penelitian kuantitatif, kualitatif, dan R&D. Bandung: Alfabeta.
Sujarweni, V. W. (2019). Analisis laporan keuangan: Teori, aplikasi, dan hasil penelitian. Yogyakarta: Pustaka Baru Press.
Yousaf, M., & Dey, S. K. (2022). Best proxy to determine firm performance using financial ratios: A CHAID approach. Journal Review of Economic Perspectives, 22(3), 219-239.
Zulfikar. (2018). Pengantar pasar modal dengan pendekatan statistika (1st ed., 1st print.). Jakarta: Gramedia.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Azlina Nur Fitriani Rukmana, Vina Merliana
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
1. Copyright Retention and Open Access License
Authors retain copyright of their work and grant the journal non-exclusive right of first publication under the Creative Commons Attribution 4.0 International License (CC BY 4.0).
This license allows unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
2. Rights Granted Under CC BY 4.0
Under this license, readers are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, including commercial use
- No additional restrictions — the licensor cannot revoke these freedoms as long as license terms are followed
3. Attribution Requirements
All uses must include:
- Proper citation of the original work
- Link to the Creative Commons license
- Indication if changes were made to the original work
- No suggestion that the licensor endorses the user or their use
4. Additional Distribution Rights
Authors may:
- Deposit the published version in institutional repositories
- Share through academic social networks
- Include in books, monographs, or other publications
- Post on personal or institutional websites
Requirement: All additional distributions must maintain the CC BY 4.0 license and proper attribution.
5. Self-Archiving and Pre-Print Sharing
Authors are encouraged to:
- Share pre-prints and post-prints online
- Deposit in subject-specific repositories (e.g., arXiv, bioRxiv)
- Engage in scholarly communication throughout the publication process
6. Open Access Commitment
This journal provides immediate open access to all content, supporting the global exchange of knowledge without financial, legal, or technical barriers.
