Do CPO price and capital lead to stock price? The mediating role of profitability

Ashari, Fajar, Sartika, Farahiyah ORCID: https://orcid.org/0000-0002-2849-8811 and Sakti, Muhammad Rizky Prima (2023) Do CPO price and capital lead to stock price? The mediating role of profitability. Jurnal Kajian Manajemen Bisnis, 12 (1). pp. 23-37. ISSN 26220865

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Abstract

Two factors affect stock prices, internal factors that are directly related to the company which can be seen from the financial statements, namely the capital structure (Debt Equity Ratio) and the profitability or profits obtained by the company (Return on Assets) and external factors related to macroeconomic fundamentals, such as price CPO. The type of data in this research is quantitative data. The research population is a palm oil sector company listed on the Indonesia Stock Exchange from 2020 – 2022. The sample selection technique was carried out based on predetermined criteria so that there were 52 observational data. The analytical tool used in this study is SmartPLS 3. The results show that profitability is not affected by CPO prices, between capital structure and profitability there is a negative and significant effect, and between profitability and stock prices, there also have a negative and significant effect. CPO and DER prices do not affect share prices. Meanwhile, neither CPO prices nor capital structure significantly affect stock prices mediated by profitability.

Item Type:	Journal Article
Keywords:	Stock prices; debt-equity ratio; return on assets; CPO prices
Subjects:	15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment
Divisions:	Faculty of Economics > Department of Management
Depositing User:	Farahiyah Sartika
Date Deposited:	02 May 2024 13:15

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