Analisis Pengaruh Likuiditas, Leverage, Ukuran Perusahaan dan Dividend Payout Ratio terhadap Harga Saham Ketika Ex-Dividend Date pada Perusahaan Manufaktur yang Terdaftar di BEI 2018-2022

Abstract

This study aims to analyze the influence of liquidity, leverage, firm size, and dividend payout ratio on stock prices during the ex-dividend date for State-Owned Enterprises (SOEs) listed on the Indonesia Stock Exchange, with an observation period from 2018 to 2022. The sample used in this study consists of 15 companies from the food and beverage sub-sector listed on the IDX. The sampling method employed is purposive sampling. The type of research is causal associative. The type of data used is secondary data, collected through documentation methods. The data analysis technique utilized is panel data regression analysis with a random effect model. The results of this study indicate that, simultaneously, liquidity, leverage, firm size, and dividend payout ratio have a significant effect on stock prices during the ex-dividend date. Partially, liquidity has a significant positive effect on stock prices during the ex-dividend date, leverage has a significant negative effect on stock prices during the ex-dividend date, firm size has a significant positive effect on stock prices during the ex-dividend date, and the dividend payout ratio has no effect on stock prices during the ex-dividend date.