PENGARUH LABA BERSIH DAN DIVIDEN TERHADAP HARGA SAHAM DENGAN ARUS KAS SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2019-2023

Abstract

In the current era of globalization, competition in the business world is getting tighter, facing business competition requires large amounts of capital, both capital coming from investors and company owners. Investors' decisions to invest their capital are greatly influenced by the financial performance of the company they invest in.

The aim of this research is to determine the effect of net profit, dividends and cash flow on stock prices.

The research method used is a quantitative method using a correlational research approach. The population in this study is the LQ45 company listed on the Indonesia Stock Exchange (BEI) for the 2019-2023 period. The sampling technique used purposive sampling to obtain a sample of 16 companies.

The results of the t test research on the variable net profit on share prices obtained a significance level that was smaller than 0.05 (0.044 < 0.05), the results of the t test on the dividend variable on stock prices obtained a significance level that was smaller than 0.05 (0.028 < 0.05), as well as the MRA test on the cash flow variable as a moderation of net profit on share prices obtained a significance level greater than 0.05 (0.584 > 0.05) and the MRA test results on the cash flow variable as a moderation of dividends stock prices obtained a significance level greater than 0.05 (0.189 > 0.05).

Based on the results of hypothesis testing, the conclusion of this research is that net profit has an effect on stock prices, dividends have an effect on stock prices, and cash flow does not moderate the effect of net profit on stock prices and cash flow does not moderate the effect of dividends on stock prices.