Pengaruh Struktur Modal dan Likuiditas terhadap Harga Saham melalui Profitabilitas sebagai Variabel Intervening pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2019-2023

Abstract

This study aims to analyze the effect of capital structure and liquidity on stock prices through profitability as an intervening variable in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2019–2023. This study uses a quantitative approach with a panel data regression method processed using EViews software. The data used are secondary data obtained from the company's annual financial statements. The results of the study indicate that capital structure has a significant positive effect on stock prices, liquidity has no significant effect and leads positively to stock prices, profitability has a significant positive effect on stock prices, capital structure has a significant negative effect on profitability, liquidity has no significant effect and leads positively to profitability, capital structure has a negative and significant effect on stock prices through profitability as its mediating variable, liquidity has no significant effect and leads positively to stock prices through profitability as its mediating variable.