The Company's share price as a result of changes in earnings and cash flows
Keywords:
Investment Cash Flow, Operating Cash Flow, Funding Cash Flow, Stock price, Gross profit
Abstract
This research is motivated by changes in the company's stock price LQ 45, which is thought to be influenced by profit (gross profit) and cash flow statements (operations, investment, and funding). This study focuses on 22 LQ 45 companies listed on the Indonesia Stock Exchange. Samples were selected using a purposive sampling method and collected using observation and documentation methods. Data analysis was performed by classical assumption test (multicollinearity test, autocorrelation test, heteroscedasticity test, and normality test), coefficient of determination analysis, hypothesis testing (simultaneous test and partial test), and multiple linear regression analysis. The results showed that gross profit and cash flow from investing activities had a positive and significant effect on stock prices. In contrast to cash flows from operating and financing activities, which have a positive but not significant effect on stock prices.
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References
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Ahmad, H., Mappatompo, A., & Muslim, M. (2018). Capital Ownership Structure And Decision On Fi-financial Market Reaction And Corporate Value. International Journal of Innovative Science and Re-search Technology, 3(9), 395-406.
Angelia, N., & Toni, N. (2020). The Analysis of Factors Affecting Dividend Policy in Food and Beverage Sector Manufacturing Companies Listed in Indonesia Stock Exchange in 2015-2017. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 3(2), 902-910.
Arsyad, M., Haeruddin, S. H., Muslim, M., & Pelu, M. F. A. (2021). The effect of activity ratios, liquidity, and profitability on the dividend payout ratio. Indonesia Accounting Journal, 3(1), 36-44.
Bintara, R. (2020). The Effect of Working Capital, Liquidity and Leverage on Profitability. Saudi Journal of Economics and Finance Abbreviated, 4(1), 28-35.
Chasanah, N., & Sucipto, A. (2019). Liquidity ratio, profitability, and solvency on stock returns with capital structure as an intervening variable (study on food and beverage sub sector listed in Indonesia Stock Exchange (Idx) period 2013-2017). Ekspektra: Jurnal Bisnis dan Manajemen, 3(1), 52-68.
Daniati, Ninna, & Suhairi. (2006). Pengaruh Kandungan Informasi Komponen Laporan Arus Kas, Laba Kotor dan Size Perusahaan terhadap Expected Harga Saham. Simposium Nasional Akuntansi IX, Padang.
Dioha, C., Mohammed, N. A., & Okpanachi, J. (2018). Effect of firm characteristics on profitability of listed consumer goods companies in Nigeria.
Djazuli, A. (2017). The Relevance of Leverage, Profitability, Market Performance, and Macroeconomic to Stock Price. Ekonomi Bisnis, 22(2), 112-122.
Fajaria, A. Z., & Isnalita, N. I. D. N. (2018). The effect of profitability, liquidity, leverage and firm growth of firm value with its dividend policy as a moderating variable. International Journal of Managerial Studies and Research (IJMSR), 6(10), 55-69.
Febrianto, R., & Widiastuty, E. (2006). Tiga Angka Laba Akuntansi : Mana yang Lebih Bermakna bagi Investor? Jurnal Riset Akuntansi Indonesia, 1(2).
Ferry, & Wati. (2004). Pengaruh Informasi Laba Aliran Kas dan Komponen Aliran Kas Terhadap Harga Saham pada Perusahaan Manufaktur di Indonesia. Symposium Nasional Akuntansi VII.
Herawati, A., & Putra, A. S. (2018). The influence of fundamental analysis on stock prices: The case of food and beverage industries. European Research Studies Journal, 21(3), 316-326.
Hidayat, A. T. (2008). Analisis Pengaruh Arus Kas, Komponen Arus Kas, dan Laba Akuntansi Terhadap Harga Saham pada Perusahaan LQ 45 di Bursa Efek Jakarta. Universitas Diponegoro.
Jogiyanto, H. (2013). Teori Portofolio dan Analisis Investasi. BPFE.
Kieso, D. E., Weigandt, J. J., & Warfield, T. D. (2007). Akuntansi Intermediate. Erlangga.
Lestari, M. (2007). Analisis Hubungan Arus Kas Terhadap Harga Saham Perusahaan kategori LQ 45 di BEI. Universitas Muslim Indonesia.
Ligocká, M., & Stavárek, D. (2019). The relationship between financial ratios and the stock prices of selected European food companies listed on stock exchanges. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 67(1), 299-307.
Mahzura, T. A. S. (2018). The Analysis of The Influence of Financial Performance, Company Size, Ownership Structure, Leverage and Company Growth on Company Values in Food and Beverage Industry Companies Listed in IDX 2012-2016 Period. International Journal of Public Budgeting, Accounting and Finance, 1(4), 1-12.
Markonah, M., Salim, A., & Franciska, J. (2020). Effect of profitability, leverage, and liquidity to the firm value. Dinasti International Journal of Economics, Finance & Accounting, 1(1), 83-94.
Martani, D., & Khairurizka, R. (2009). The effect of financial ratios, firm size, and cash flow from operating activities in the interim report to the stock return. Chinese Business Review, 8(6), 44.
Meythi. (2006). Pengaruh Arus Kas Operasi terhadap Harga Saham dengan Persistensi Laba sebagai Variabel Intervening. Simposium Nasional Akuntansi 9.
Murniati, S. (2016). Effect of capital structure, company size and profitability on the stock price of food and beverage companies listed on the Indonesia Stock Exchange. Information Management and Business Review, 8(1), 23-29.
Mutia, E. (2012). Pengaruh Informasi Laba dan Arus Kas Terhadap Harga Saham. Jurnal Akuntansi, 1(1), 12–22.
Rohmadini, A., Saifi, M., & Darmawan, A. (2018). Pengaruh Profitabilitas, Likuiditas dan Leverage Terhadap Financial Distress (Studi Pada Perusahaan Food & Beverage Yang Terdaftar Di Bursa Efek Indonesia Periode 2013-2016). Jurnal Administrasi Bisnis, 61(2), 11-19.
Santosa, P. W. (2020). The Effect of Financial Performance and Innovation on Leverage: Evidence from Indonesian Food and Beverage Sector. Organizations and Markets in Emerging Economies, 11(22), 367-388.
Sunariyah. (2004). Pengetahuan Pasar Modal. Unit Penerbit dan Percetakan AMP YKPN.
Susanto, S. (2006). Relevansi Nilai Informasi Laba dan Aliran Kas Terhadap Harga Saham dalam Kaitannya dengan Siklus Hidup Perusahaan. Simposium Nasional Akuntansi 9.
Published
2020-11-30
How to Cite
Ramlah, R. (2020). The Company’s share price as a result of changes in earnings and cash flows. Point of View Research Management, 1(4), 154 - 163. Retrieved from http://journal.accountingpointofview.id/index.php/POVREMA/article/view/146
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Articles
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