Analisis Pengaruh Likuiditas, Solvabilitas, Aktivitas, dan Pertumbuhan Penjualan terhadap Harga Saham melalui Profitabilitas sebagai Variabel Intervening pada Perusahaan Transportasi dan Logistik yang Terdaftar di Bursa Efek Indonesia Periode 2019–2024

Abstract

This study aims to analyze the effect of liquidity, solvency, activity, and sales growth on stock prices with profitability as an intervening variable in transportation and logistics sector companies listed on the Indonesia Stock Exchange during the 2019–2024 period. This research uses a quantitative approach with an associative research type. The data used are secondary data obtained from the companies’ annual financial statements. The population in this study consists of 37 companies, and based on specific sampling criteria, 17 companies were selected as the research sample. The data analysis technique employed is multiple linear regression with panel data methods, analyzed using Eviews 12 software. The results show that liquidity has a positive and significant effect on profitability. Solvency has a negative but not significant effect on profitability. Activity has a positive but not significant effect on profitability. Sales growth has a positive but not significant effect on profitability. Profitability does not have a significant effect on stock prices. Liquidity has a positive but not significant effect on stock prices. Solvency has a negative but not significant effect on stock prices. Activity has a negative and significant effect on stock prices. Sales growth has a positive and significant effect on stock prices. Profitability is not able to moderate the effect of liquidity, solvency, activity, and sales growth on stock prices.