Analysis Of The Effect Of Financial Performance, Dividend Policy And Economic Growth Level On Stock Prices (Empirical Study On The Idx30 Index Companies On The Idx In 2020-2024)

Liza Zulbahri, Yudas Sabaggalet, Afrildia Safani

Abstract


This study aims to determine and analyze the influence of financial performance,
dividend policy, and economic growth rate on stock prices in IDX30 index companies listed on
the Indonesia Stock Exchange (IDX) in 2020-2024. The research method used is descriptive
quantitative. The sampling technique used is purposive sampling, resulting in a sample of 105
data. Data analysis techniques used in this study include descriptive statistical analysis, classical
assumption tests, and multiple linear regression consisting of t-tests, F-tests, and coefficient of
determination tests. Based on the results of the multiple linear regression study, Y = 9.054 –
0.075X1– 0.130X2+ 0.043X3+ e. Based on the results of the t-test, it is known that the financial
performance variable as measured by ROA does not have a significant effect on stock prices, in
contrast, the dividend policy variable as measured by DPR has a negative and significant effect
on stock prices. And the economic growth rate variable as measured by GDP does not have a
significant effect on stock prices. Meanwhile, simultaneously, financial performance, dividend
policy, and economic growth have a significant effect on stock prices. The results of the
determination coefficient test show that financial performance, dividend policy, and economic
growth have an influence of 13.8%, and the remaining 86.2% is influenced by other variables
not included in this study.


Keywords


Financial Performance, Dividend Policy, Economic Growth Rate and Stock Price

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DOI: http://dx.doi.org/10.52155/ijpsat.v55.1.7761

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