Pengaruh struktur modal dan profitabilitas terhadap harga saham perusahaan manufaktur

Abstract

Purposes     -    The purpose of this study is to analyze the effect of capital structure on stock prices; the influence of capital structure on profitability; the effect of profitability on stock prices; and the effect of capital structure on profitability through stock prices. Methods     -    This research approach pertained to quantitative research approach, especially its correlation research. The population in this study is a manufacturing company listed on the Indonesia Stock Exchange (BEI) in 2016. Pursuant to purposive sampling method obtained 30 samples. Data is obtained from its Public Financial Report issued by Bank Indonesia. Data analysis technique in this research uses path analysis. Findings      -    First, the capital structure has a negative, but significant effect on profitability; Second, the capital structure has a positive, but insignificant effect on stock prices; Third, profitability has a positive, but not significant effect on stock prices; Fourth, the effect of capital structure on stock prices is not mediated by profitability. Keywords    -    Capital Structure, Profitability, Stock PricePurposes     -    The purpose of this study is to analyze the effect of capital structure on stock prices; the influence of capital structure on profitability; the effect of profitability on stock prices; and the effect of capital structure on profitability through stock prices. Methods     -    This research approach pertained to quantitative research approach, especially its correlation research. The population in this study is a manufacturing company listed on the Indonesia Stock Exchange (BEI) in 2016. Pursuant to purposive sampling method obtained 30 samples. Data is obtained from its Public Financial Report issued by Bank Indonesia. Data analysis technique in this research uses path analysis. Findings      -    First, the capital structure has a negative, but significant effect on profitability; Second, the capital structure has a positive, but insignificant effect on stock prices; Third, profitability has a positive, but not significant effect on stock prices; Fourth, the effect of capital structure on stock prices is not mediated by profitability. Keywords    -    Capital Structure, Profitability, Stock Pric