THE EFFECT OF PRICE-EARNINGS RATIO, DEBT-TO-EQUITY RATIO AND RETURN ON EQUITY ON THE STOCK PRICES OF COAL MINING SUB-SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (2020–2025 PERIOD)
Keywords:
Price Earning Ratio, Debt To Equity Ratio, Return On Equity, Stock Price, Data TransformationAbstract
This study aims to determine and analyze the effect of Price Earning Ratio (PER), Debt To Equity Ratio (DER), and Return On Equity (ROE), both partially and simultaneously, on the Stock Price of coal mining sub-sector companies listed on the Indonesia Stock Exchange during 2020-2025. This study uses a quantitative method with an associative approach. The population consisted of 24 companies, with a sample of 6 companies selected through purposive sampling, namely ADRO, BYAN, HRUM, ITMG, GEMS, and MBAP, over 6 years, resulting in 36 data points. Data were analyzed using multiple linear regression with SPSS version 26. To satisfy the normality assumption, PER was transformed into square root form, DER and ROE into inverse form, and Stock Price into natural logarithm form. The results show that PER has a significant positive effect on Stock Price (Sig. 0.004), DER has no significant effect (Sig. 0.713), while ROE has a significant positive effect on Stock Price (Sig. 0.001). Simultaneously, PER, DER, and ROE have a significant effect on Stock Price (Sig. 0.005), with an R Square of 0.329, meaning the three variables explain 32.9% of Stock Price variation, while the remaining 67.1% is influenced by other factors outside this model.
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