The The Influence of Fundamental Factors on Stock Prices of The Textile and Garment Subsector Listed on The IDX in 2019-2023
DOI:
https://doi.org/10.33062/ajb.v10i01.73Keywords:
Cash Ratio (CaR), DAR, Fundamental Factors, PER, Stock PriceAbstract
Responding to the phenomenon of falling stock prices in the textile and garment subsector, it is important to evaluate financial statement performance to improve financial strategy and operational efficiency. This research aims at finding how far fundamental factors can influence stock prices in this subsector. Using quantitative methods with a panel data regression approach. Independent variables include CR,CaR, DAR, DER, ROA, ROE, WCT, EPS, and PER. The dependent variable is stock price. Tests with classical assumption tests (normality, multicollinearity, autocorrelation, and heteroscedasticity) as well as hypothesis tests (t test, F test, and coefficient of determination test) is used to ensure the validity of the model. The results showed that DAR, DER, ROA, ROE, and EPS have a partially significant effect on stock prices. On the other hand, CR, CaR, WCT, and PER do not. Simultaneously, stock prices are significantly influenced by all independent variables. The regression model passes all classical assumption tests, so the results of this research analysis are valid. This research provides a more comprehensive view than previous studies because it examines nine fundamental variables simultaneously over five periods. Future research can add other external factors and expand the research period.
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