THE INFLUENCE OF CURRENT RATIO, DEBT-TO-EQUITY RATIO AND FIRM SIZE ON STOCK PRICES OF TRANSPORTATION SUB-SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (2020–2025)
Keywords:
Current Ratio, Debt to Equity Ratio, Firm Size, Stock PricesAbstract
In Indonesia, the Indonesia Stock Exchange (IDX) serves as the primary venue where capital market participants engage in trading—including the buying and selling of shares from various officially listed industrial sectors. A stock price is determined on the exchange at a specific time through the interaction of supply and demand among market participants. This study utilizes quantitative data, specifically data presented in the form of numerical figures. The data consists of annual financial reports from transportation sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the period of 2020–2025. The research was conducted via the official websites of these listed transportation companies. Data was obtained from the IDX website (https://www.idx.co.id), focusing on transportation sub-sector companies listed on the exchange between 2020 and 2025. The research is scheduled to take place from March 2026 to July 2026. The study population comprises 12 transportation sub-sector companies listed on the Indonesia Stock Exchange during the 2020–2025 period. The Current Ratio does not have a significant partial effect on Stock Price; the calculated t-value of 0.024 is lower than the t-table value of 1.68595, and the significance value of 0.981 is greater than 0.05; therefore, H1 is rejected and H0 is accepted. The Debt to Equity Ratio does not have a significant partial effect on Stock Price; the calculated t-value of -0.749 is lower than the t-table value of 1.68595, and the significance value of 0.458 is greater than 0.05; therefore, H2 is rejected and H0 is accepted. Firm Size has a significant partial effect on Stock Price in a negative direction; the calculated t-value of -4.701 is greater in absolute terms than the t-table value of -1.68595, and the significance value of 0.000 is less than 0.05; therefore, H3 is accepted and H0 is rejected. The Current Ratio, Debt to Equity Ratio, and Firm Size have a significant simultaneous effect on Stock Price; the calculated F-value of 10.164 is greater than the F-table value of 2.852, and the significance value of 0.000 is less than 0.05; therefore, H4 is accepted and H0 is rejected.
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