Peran Price Earning Ratio sebagai Moderator antara Rasio Keuangan terhadap Harga Saham Perusahaan IDX Value 30

Kusbiantoro, Shefira Afdeana and Masdjojo, Gregorius Nasiansenus (2025) Peran Price Earning Ratio sebagai Moderator antara Rasio Keuangan terhadap Harga Saham Perusahaan IDX Value 30. Journal of Economics and Management Scienties, 5 (7). pp. 548-557. ISSN 2655-6685

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Abstract

Stock price is a reflection of investor expectations of the performance and future prospects of a company. This study aims to examine the effect of financial ratios consisting of profitability (Return on Equity), liquidity (Current Ratio) and solvency (Debt to Equity Ratio), on stock prices, with Price Earning Ratio (PER) as a moderating variable. The study was conducted on companies that are members of the IDX Value 30 index on the Indonesia Stock Exchange during the period 2021 to 2024. The sample selection was carried out by purposive sampling based on the availability of annual financial report data, so that 64 observations were obtained from 16 companies for 4 years. Data is sourced from annual reports accessed through the official website of the Indonesia Stock Exchange. Data analysis uses panel data regression techniques with a combination of regression with moderation variables. The best estimate is selected through the Chow test, Hausman test and Lagrange Multiplier test. The estimation test results recommended the Random Effect Model (REM). The results show that CR and DER have a positive but insignificant effect on stock prices, while ROE shows a significant positive effect. Moderation analysis shows that PER does not act as a variable that can moderate the relationship between ROE, CR and DER on-stock prices partially. The conclusion of this study underscores that PER has not been moderated by ROE, CR or DER. KEYWORDS Financial Ratio, Stock Price, Price Earning Ratio, IDXV30, Moderator

Item Type:	Article
Subjects:	H Social Sciences > HG Finance
Faculty / Institution:	UNSPECIFIED
Depositing User:	Gregrorius Nasiansenus Masdjojo
Date Deposited:	09 Mar 2026 04:43
Last Modified:	09 Mar 2026 04:43
URI:	https://eprints.unisbank.ac.id/id/eprint/10439

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