Stock Price Variations Research Articles

PENGARUH UKURAN, PERTUMBUHAN, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN DENGAN VARIABEL INTERVENING HARGA SAHAM

This research aims to test and analyze the influence of size, growth and leverage on company value with the intervening variable stock price. The population in this research are food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange 2020-2022. Meanwhile, the sample in this study was 22 companies selected using the purposive sampling method. This research uses a quantitative research type and approach. The data collection method used in this research is secondary data obtained from the Indonesia Stock Exchange website, namely in the form of annual financial reports. The data analysis method used in this research is Descriptive Statistical Analysis, and Inferential Statistical Analysis. Data analysis was carried out using statistics with the SmartPLS version 4.0 tool. Based on the results of data analysis using hypothesis testing, it shows that company size and company growth have a significant effect on share prices, while leverage has no significant effect on share prices. Company size, leverage, and share price have a significant effect on company value, while company growth does not have a significant effect on company value. Company size and company growth have a significant effect on company value through share prices, while leverage does not have a significant effect on company value through share prices.

The Effect of Firm Size, Current Ratio, and Debt to Equity Ratio on Share Price in Food and Beverage Subsector Manufacturing Companies Listed on the Indonesia Stock Exchange

The purpose of this study is to understand how company size, liquidity, and capital structure can affect stock prices in the food and beverage industry in Indonesia, so as to provide practical guidance for stakeholders in making financial and investment decisions. This research method uses a sample of 18 manufacturing companies in the food and beverage subsector on the IDX in the 2019-2022 period. Sample selection is carried out by purposive sampling technique, which is a technique that considers and determines samples based on certain criteria. The purposive sampling technique was chosen to ensure that the samples taken are relevant and in accordance with the research objectives. The results of this study show that in the number that means that the independent variable is only able to explain the bound variable of 0.299 or 29.9%. *The Stock Price variable can be explained by 29.9% by variables such as company size, debt to equity ratio, current ratio, return on equity while the remaining 70.1% can be influenced by other factors that are not studied.

Value relevance of accounting information in Morocco: impact of profitability and earnings management strategies

PurposeThis study examines the value relevance of accounting information for publicly listed Moroccan companies and analyzes how profitability affects stock market valuation. Additionally, the study explores earnings management strategies used to avoid losses and earnings decreases.Design/methodology/approachEmpirical tests use the Ohlson (1995) Price model to assess the extent to which accounting information explains variation in stock prices for the period 2012–2021. Moreover, the study applies the Burgstahler and Dichev (1997) approach to analyze earnings management strategies used by listed Moroccan companies.FindingsThe findings suggest a positive and significant relationship between the book value, net earnings and the market value of stocks. Additionally, profitability is identified as a crucial factor significantly influencing the relevance of accounting figures. Moreover, the analysis of the distribution of earnings reveals that listed Moroccan companies engage in earnings management to avoid losses and decreases in earnings.Practical implicationsThe findings hold practical significance for investors, corporate leaders, accountants and stakeholders relying on accounting information for decisions. They also offer insights for Moroccan stock market regulators to improve accounting quality and market efficiency.Originality/valueThe study shows the extent to which stock prices reflect the accounting information from an emerging country perspective, contributing to a predominantly unexplored area of literature regarding economies in transition. Moreover, the study offers crucial insights into the influence of profitability on the market value of listed Moroccan companies and sheds light on the utilized earnings management strategies.

Time-Varying Drivers of Stock Prices

This paper provides novel evidence of the time-varying roles of subjective expectations in explaining stock price variations. Cash flow expectations matter more during times of financial uncertainty and recessions, especially among the hardest-hit industries such as Telecommunications during the dot-com bubble, Financials during the Great Recession, and Healthcare during the COVID-19 pandemic. Conversely, discount rates explain more price variations during expansionary periods. Inflation expectations, while accounting for more than half of price fluctuations in high-inflation environments, play a negligible role otherwise. Finally, factor returns tend to move against earnings growth expectations under low financial uncertainty but move in sync with earnings growth expectations when financial uncertainty is high.

Monetary Policy without Moving Interest Rates: The Fed Non-Yield Shock

Existing high-frequency monetary policy shocks explain surprisingly little variation in stock prices and exchange rates around FOMC announcements. Further, both of these asset classes display heightened volatility relative to non-announcement times. We use a heteroskedasticity-based procedure to estimate a “Fed non-yield shock”, which is orthogonal to yield changes and is identified from excess volatility in the S and P 500 and various dollar exchange rates. A positive non-yield shock raises stock prices in the U.S. and around the globe, and depreciates the dollar against all major currencies. The non-yield shock is essentially uncorrelated with previous monetary policy shocks and its effects are large in comparison. Its strong effects on the VIX and other risk-related measures point towards a dominant risk premium channel. We show that the non-yield shock can be related to Fed communications and that its existence has implications for the identification of structural monetary policy shocks.

Pengaruh Profitabilitas dan Solvabilitas Terhadap Harga Saham Sektor Bahan Baku Di Bursa Efek Indonesia

This research aims to determine the influence of The Influence of Profitabilitas and Solvabilitas on Stock Prices (empirical study of basic materials sector companies listed on the Indonesian Stock Exchange for the 2018-2022 period). The type of research that will be carried out in this research is explanatory. Replication research is a repetition of a basic experiment, namely between the independent variable and the dependent variable. The results of this research are based on the results of the analysis of the first hypothesis. It is concluded that the first hypothesis is accepted, meaning that the Profitability variable influences the Stock Price variable. Based on the results of the analysis of the second hypothesis, it can be concluded that the second hypothesis is accepted, meaning that the Solvency variable influences the Stock Price variable. Based on the results of the analysis of the third hypothesis, it can be concluded that the third hypothesis is accepted, meaning that the Profitability variable and the Solvency variable have a joint (simultaneous) effect on the Stock Price variable.

Ensemble Learning with an Adversarial Hypergraph Model and a Convolutional Neural Network to Forecast Stock Price Variations

Ensemble Learning with an Adversarial Hypergraph Model and a Convolutional Neural Network to Forecast Stock Price Variations

The Effect of Stock Price, Stock Trading Volume and Market Capitalization on the Stock Return of Health Sector Companies Listed on the Indonesia Stock Exchange during Covid 19 (Period 2020-2022)

The purpose of this study was to analyze the effect of stock prices, stock trading volume and market capitalization on stock returns of health sector companies listed on the Indonesia Stock Exchange (IDX) during the Covid 19 period (2020-2022 period). The capital market is a place where investors can provide a portion of their capital to invest in a company issuer to gain profit. The type of research used in this study uses quantitative research, namely research conducted using numbers as objects in conducting analysis. The data used is secondary data in the form of quarterly data over a period of 3 years. The samples used in this study were 17 health sector companies listed on the Indonesia Stock Exchange. As for the data collection method by means of documentation and sampling using purposive sampling method. The results of this study indicate that the stock price variable has a significant level of value on stock returns with the results of the t test which is worth 0.000 so it can be interpreted that the stock price variable has a significant effect on stock returns. The stock trading volume variable has a significant effect on stock returns, this can be seen by the significance value of the t test results of 0.042. The market capitalization variable has no significant effect on stock returns, this can be proven by the significance value of the t-test results of 0.212.

The effect of inflation, interest rates, working capital turnover, receivables turnover on share prices of property and real estate sub-sector companies listed on the IDX

This study aims to investigate the Effects of Inflation, Interest Rates, Working Capital Turnover, and Receivables Turnover on Share Prices in Property and Real Estate subsector companies listed on the Indonesia Stock Exchange for the 2018-2022 period. The background of this research arises from the need for further understanding of the economic and financial factors that may affect stock prices in the property and real estate sectors. This study uses a quantitative approach with a population of all property and real estate subsector companies listed on the Indonesia Stock Exchange, totaling 85 companies. The research sample was taken by purposive sampling method, and the number of samples set was 10 companies. Data was collected from the annual financial statements of these companies during the study period. The data analysis method used is a regression test with a t test to see the influence of variables partially, an F test to see the influence simultaneously, and a coefficient of determination (R2) test to find out how much variation in Stock Prices can be explained by independent variables. The results showed that Inflation, Interest Rates, and Working Capital Turnover had a significant influence on Stock Price, while Receivables Turnover did not have a significant influence. Simultaneously, these four variables have a significant influence on the Share Price of Property and Real Estate subsector companies.

The Effect of Dividend Policy, Capital Structure, and Exchange Rate on Stock Returns in Industrial Sector Business Entities

The purpose of this study is to examine how Dividend Income, Capital Structure, and Exchange Rate affect Stock Market Performance. The sample consisted of 12 companies trading on the Indonesia Stock Exchange (IDX) selected using the Purposive Sampling method, resulting in 63 observations for each variable. Data from audited financial statements, tax reports, and stock market prices are published by Bursa Indonesia (IDX). Data analysis was performed using regression analysis techniques. The results of this study show that the Exchange Rate, Dividend Payout Ratio (DPR), and Debt to Equity ratio (DER) all have a significant impact on stock prices. Individually, the Exchange Rate and DER have significant effects, with the Exchange Rate having a negative effect and DER having a positive effect, but the DPR having no significant effect. The coefficient of determination shows that 10.8% of the stock price variation can be explained by the three variables studied, while 89.2% can be explained by other factors not included in the study.

Are Financial Ratios Able to Predict Bank Stock Prices During the COVID-19 Pandemic?

Fundamental analysis, such as financial ratios, is important to ensure capital markets move efficiently. This analysis represents 69% of the variation in stock prices in the capital market. However, fundamental analysis has not been widely carried out because expertise is needed to analyze qualitative and quantitative data from company characteristics that underlie the movement of a stock. In 2020 – 2022, bank performance experienced fluctuations due to the Covid-19 pandemic which caused bank share prices to also fluctuate. On the other hand, banks have an important role as intermediary institutions or intermediaries to support the funding needs of the real sector or the business world. However, previous research on fundamental analysis largely excluded companies in the financial sector. Therefore, this article aims to find out whether financial ratios are able to predict bank share prices during the Covid-19 pandemic. There are five financial ratios used in this research, namely loan loss provision ratio, total capital ratio, profit margin ratio, current ratio, and solvency ratio. The population in this study are financial companies listed on the Indonesia Stock Exchange for the period 2020 - 2022. The sample was selected using a purposive sampling method and obtained 38 companies and 114 observations. The results of multiple regression analysis show that the loan loss provision ratio has a significant negative effect and the total capital ratio has a significant positive effect on bank share prices. Meanwhile, the net profit margin ratio, current ratio and solvency ratio do not have a significant effect on bank share prices. This research has implications for encouraging banks to improve disclosure policies and encouraging investors to hone fundamental analysis skills to reduce mispricing and make markets more efficient.

Stock Market Price Prediction and Forecasting Using Stacked LSTM

Stock price movement is non-linear and complex. Several research works have been carried out to predict stock prices. Traditional approaches such as Linear Regression and Support Vector Regression were used but accuracy was not adequate. Researchers have tried to improve stock price prediction using ARIMA. Due to very high variations in stock prices, deep learning techniques are applied due to its proven accuracy in various analytics fields. Artificial Neural Network was deployed to predict stock prices but as stock prices are time-series based, recurrent neural network was applied to further improve prediction accuracy. Therefore, data scientists and analysts found that Deep Learning outperformed Machine Learning which is also proofed by all the collected research papers, and it is the most suitable methodologies to apply to the stock market forecasting domain. This paper explores different stacked LSTM Models for non-stationary financial time series in stock price prediction. This study is to predict stock market prices to make more acquaint and precise investment decisions. The experimental result will show that, this method can get quite accurate result, particularly effective in stock prediction. The proposed LSTM model will be designed to overcome gradient explosion, gradient vanishing, and save long-term memory. Firstly, The Model will have a comparative analysis between different LSTM models and integrating the model based on the result obtained from the analysis. The results will suggest that the developed stacked LSTM produces better predictive power and generalization. Key Words: stock market prediction, stacked LSTM, Deep Learning, Data pre-processing techniques, Data normalization, Neural Networks, Data Visualization, Training and Testing Set, Time series analysis, Predictive models, Future Forecasting.

Pengaruh Loan To Deposit Ratio (LDR) Dan Non Perfoming Loan (NPL) Terhadap Harga Saham Pada PT Bank Negara Indonesia (Persero) Tbk Periode 2013-2022

This research aims to determine the effect of Loan to Deposit Ratio (LDR) and Non-Performing Loans (NPL) on stock at PT Bank Negara Indonesia (BNI) Tbk for 2013-2022. This research uses 2 (two) independent variables That is Loan to Deposit Ratio (LDR) and Non Performing Loan (NPL) and 1 (one) dependent variable stock's price. This research is using quantitative methods, data analysis uses descriptive statistical techniques, classical assumption tests, multiple linear regression, hypothesis testing and coefficient of determination. Data processing uses SPPS 26 software. Based on test results on variables with 10 years of data. The Multiple Linear Regression Test Equation is Y = 19,248.185 – 106.314X1 – 1,563.302X2. In the coefficient of determination test, it was found that the influence of LDR and NPL on share prices was 10%, while the remaining 90% was influenced by other factors. Based on the results of the t test, tcount for LDR was 0.612 < ttable 2.365 and the value of Sig. 0.560 > 0.05 means that there is no partial significant influence between LDR on share prices. and NPL tcount of 0.872 < ttable 2.365 and Sig value. 0.412 > 0.05, which means that there is no partial significant influence between NPL on share prices. In the simultaneous test the LDR and NPL variables do not have a significant effect on share prices with Fcount being smaller than Ftable (0.693 < 4.74).

Which Subjective Expectations Explain Asset Prices?

Abstract We present a method for determining whether errors in expectations explain asset pricing puzzles without imposing assumptions about the error mechanism. Using accounting identities and survey forecasts, we find that errors in expected long-term inflation explain price variation, return predictability, and the rejection of the expectations hypothesis for aggregate stock and bond markets. Errors in short-term (long-term) nominal earnings growth expectations explain (do not explain) stock price variation and return predictability. The relevant errors are consistent with mistakes about the persistence of forecasted variables and the response to surprises. A simple framework based on fundamental extrapolation successfully replicates these findings. (JEL G40, G12, G14, E71)

Looking at Financial Performance, Analysis of its Effect on Share Prices

This study aims to determine and analyze the effect of financial performance on stock prices in pharmaceutical sub-sector companies on the Indonesia Stock Exchange for the period 2014 – 2023. This study uses financial performance as an independent variable with indicators of Current Ratio (CR), Quick Ratio (QR), Cash Ratio (CashR), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Fixed Asset Turn Over (FATO), Inventory Turn Over (ITO), Total Asset Turn Over (TATO), Gross Profit Margin (GPM), Net Profit Margin (NPM) and Return On Equity (ROE). Stock price as a variable is tied to the stock price indicator (HS). Data and facts obtained from the issuer's financial statements, stock prices and financial performance have considerable and significant differences in the study period. The analysis tool uses the Smart Partial Least Square (PLS) 3.0 software program. The results showed that financial performance variables with FATO and TATO indicators affect stock price variables, while other financial performance indicators, namely CR, CashR, DAR, DER, GPM, ITO, GPM, ITO, NPM, QR and ROE are not able to construct financial performance variables.

Pengaruh Good Corporate Governance, Kinerja Keuangan dan Retention Ratio terhadap Harga Saham

Good Corporate Governance (GCG), Financial Performance, and Retention Ratio are essential factors that can influence stock prices. Good GCG can enhance investor confidence and drive positive financial performance. Strong financial performance can increase the company's value and attract investors to buy the company's shares. A high Retention Ratio indicates that the company can retain quality employees, which can enhance productivity and profitability. This research aims to analyze the influence of GCG, Financial Performance, and Retention Ratio on Stock Prices. The method employed is quantitative. The population used in this study is the LQ45 companies listed on the Indonesia Stock Exchange for the period 2017-2021, totaling 45 companies, and the sample criteria selected 17 companies. Data analysis utilizes descriptive statistics, panel data regression model estimation, classical assumption tests, hypothesis testing, and MRA using Eviews 12. The results indicate a significant influence of the Retention Ratio on Stock Prices, with the statistically higher t-value compared to the t-table (2.663118 > 1.99006). However, variables such as the Board of Directors, Independent Commissioners, Return on Assets (ROA), and Earning Per Share (EPS) do not demonstrate a significant influence on Stock Prices as their t-values are lower than the critical t-value (t-value < 1.99006). The correlation results show that 88.3% of the variation in Stock Prices can be explained by the independent factors examined in this study, while the remaining 11.7% may be influenced by other unmodeled factors. These findings provide valuable insights into understanding the factors affecting company stock prices and underscore the importance of profit retention in the context of a company's market value.

Pengaruh Sales Growth dan Struktur Modal terhadap Harga Saham Dengan Ukuran Perusahaan Sebagai Variabel Moderating (Studi Empiris pada Perusahaan Sektor Consumer Non-Cyclical yang Terdaftar di BEI Tahun 2017-2022)

This research aims to determine the influence of Sales Growth and Capital Structure on Share Prices with Firm Size as a Moderating Variable in the Consumer Non-Cyclical sector listed on the Indonesia Stock Exchange for the 2017-2022 period. Based on the purposive sampling method, the population used in this research was 112 companies with a selected sample of 34 companies. Statistical testing uses Econometric Views 12. The results of this study show that (1) Partial sales growth does not have a significant effect on stock prices, (2) Partial capital structure has a significant effect on stock prices, (3) Partial sales growth and capital structure simultaneously has a significant effect on the Stock Price variable, (4) Firm Size is not able to moderate the influence of Sales Growth on Stock Prices, (5) Firm Size is able to moderate the relationship between the Capital Structure variable and Stock Prices.

The impact of brake failure rights protection event on Tesla Motors: Stock prediction based on ARIMA model

On April 19, 2021, the Shanghai Auto Show witnessed a rights protection incident involving Tesla’s brake failure. The arrogant official response has eroded consumer trust and had a detrimental impact on Tesla’s operational performance. This article employs the ARIMA model to analyze Tesla’s stock price data, selecting data from a year prior to and following the incident. The forecast findings are analyzed to determine the impact of the event on Tesla’s stock prices, followed by advice for investors on decisionmaking. According to this article, Tesla’s stock prices were significantly negatively impacted by the rights protection incident. Meanwhile, policy lags and the absence of a weak efficient market could be blamed for the notable shift in stock price that occurred only starting on the seventh day of the event. This suggests that investors could leverage the interval of time between the occurrence of the event and the occurrence of stock price variations to their advantage when managing their investments.

The Impact of Tax Aggressiveness, Enterprise Value, Thin Capital, and Company Performance on Share Price on Jakarta Islamic Index Category Companies

This research is part of a continuation of previous research, namely about the Jakarta Islamic Index, but currently researchers want to know the level of influence of JII category stock prices can be influenced by Tax Aggressiveness, Company Value, Thin Capital and Company Performance of the Jakarta Islamic Index Issuers. The analysis used in this study is a Quantitative Method, with the analysis used by conducting normality tests and multiple regression tests, so that from the test results can be known the level of influence of these independent variables on the JII stock price variable. The conclusion of the study is that partially or simultaneously the variable Change in Stock Prices of issuers indexed as the Jakarta Islamic Index is positively and cynically influenced by all independent variables which include tax aggressiveness, Enterprise Value, Thin Capital and Company Performance.

중요성에 근거한 지속가능성 공시와 주가 정보성

[Purpose] This study analyzes the relationship between the amount of materiality-based sustainability information and stock price informativeness for Korean listed companies. In addition, the study investigates whether this relationship appears differentially according to the company’s information demand (uncertainty of profit information and degree of growth opportunity).
 [Methodology] The amount of materiality-based sustainability information is calculated based on the importance identified by Sustainability Accounting Standards Board among the ESG information disclosure data of individual firms provided by Bloomberg. Stock price informativeness is defined as stock price variations reflecting firm-specific information excluding market and sector influences.
 [Findings] The empirical results for 2,932 listed firm-year samples from 2010 to 2020 are as follows. First, the amount of materiality-based sustainability information showed a positive association with stock price informativeness. This suggests that material-based sustainability information has a company-specific information usefulness in terms of stock price information, suggesting that the information is usefully used in the capital market. Second, this relationship was found to be significant the more uncertain the company’s profit information and the lower the growth opportunity.
 [Implications] This study suggests the usefulness of sustainability information based on materiality, and provides policy implications in terms of preliminarily examining the impact on domestic companies when the International Sustainability Standards Board are applied in the near future. In addition, it has policy implications in that material sustainability information could have a differential impact on companies depending on the information demand.