The Influence of Cash Flow, Profitability, and Sales Growth on Stock Prices With Capital Structure as Intervening Variables in Banking Companies Listed on the Indonesia Stock Exchange 2015-2019

International Journal of Economics and Management Pub Date : 2023-01-01 DOI:10.54209/iem.v1i01.5

Monica Angelin Nasution, Tengku Mella Syafrian Putri, Ahmad Sani, Syamsul Bahri Syamsul Bahri

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Abstract

This study aims to determine the effect of cash flow, profitability and sales growth on share prices and analyze the effect of cash flow, profitability and sales growth on stock prices with a capital structure as a variable in banking companies listed on the Indonesia stock exchange for the 2015–2019 period. Sampling using purposive sampling so that the number of samples taken is 34 companies with 5 years of observation with a total sample of 170 samples. This study uses secondary data, data collection techniques using documentation studies and literature studies and the method used is path testing. The results of this study indicate that profitability has a significant effect on capital structure, while cash flow and sales growth have no significant effect on capital structure in banking companies listed on the IDX for the 2015–2019 period. Cash flow, sales growth and capital structure have a significant effect on stock prices, while profitability has no significant effect on stock prices in banking companies listed on the IDX for the 2015–2019 period. The capital structure can mediate the effect of cash flow, profitability and sales growth on stock prices in banking companies listed on the IDX for the 2015–2019 period.

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2015-2019年印尼证券交易所上市银行公司现金流、盈利能力和销售增长对股价的影响——以资本结构为干预变量

本研究旨在确定现金流、盈利能力和销售增长对股价的影响，并以资本结构为变量分析2015-2019年期间印尼证券交易所上市银行公司的现金流、盈利能力和销售增长对股价的影响。抽样采用有目的抽样，抽样数量为34家公司，观察期为5年，样本总数为170个。本研究采用二手资料，资料收集技术采用文献研究法和文献研究法，采用路径检验方法。本研究结果表明，2015-2019年期间，在IDX上市的银行公司的盈利能力对资本结构有显著影响，而现金流量和销售增长对资本结构没有显著影响。2015-2019年期间，IDX上市银行公司的现金流、销售增长和资本结构对股价有显著影响，而盈利能力对股价无显著影响。资本结构可以中介2015-2019年期间IDX上市银行公司的现金流、盈利能力和销售增长对股价的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Journal of Economics and Management Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.80

自引率

0.00%

发文量

期刊介绍： The journal focuses on economics and management issues. The main subjects for economics cover national macroeconomic issues, international economic issues, interactions of national and regional economies, microeconomics and macroeconomics policies. The journal also considers thought-leading substantive research in the finance discipline. The main subjects for management include management decisions, Small Medium Enterprises (SME) practices, corporate social policies, digital marketing strategies and strategic management. The journal emphasises empirical studies with practical applications; examinations of theoretical and methodological developments. The journal is committed to publishing the high quality articles from economics and management perspectives. It is a triannual journal published in April, August and December and all articles submitted are in English. IJEM follows a double-blind peer-review process, whereby authors do not know reviewers and vice versa. Peer review is fundamental to the scientific publication process and the dissemination of sound science.