Victoria, Ellis Grace (2025) ANALISIS PROFITABILITAS, LIKUIDITAS, DAN SOLVABILITAS TERHADAP HARGA SAHAM DENGAN KEBIJAKAN DIVIDEN SEBAGAI MEDIATOR PADA PERUSAHAAN SEKTOR HEALTHCARE DI BURSA FEK INDONESIA. Undergraduate thesis, UPN VETERAN JAWA TIMUR.
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Abstract
This study analyzes the effect of profitability, liquidity, and solvency on stock prices, with dividend policy as a mediator variable in healthcare companies listed on the Indonesia Stock Exchange for the 2020-2023 period. Using a quantitative approach with a causal comparative design, this study involved nine healthcare companies selected through purposive sampling, resulting in 36 observations. Profitability was measured using Return on Assets (ROA), liquidity using the Cash Ratio, solvency using the Equity-to-Assets Ratio, and dividend policy using the Dividend Payout Ratio. Data analysis used Moderated Regression Analysis (MRA) after meeting the classical assumption test. The results showed that profitability had a negative effect on stock prices (β = -4,236.647; p = 0.026). Liquidity showed a positive but insignificant effect (p=0.075), while solvency had a significant positive effect (p=0.023) on stock valuation. Dividend policy was shown to positively moderate the relationship between profitability and stock price (p=0.033), but did not moderate the relationship between liquidity and stock price (p=0.119), but negatively moderated the relationship between solvency and stock price (p=0.017). The research model demonstrated superior predictive ability with an adjusted R-square of 0.750, indicating that 75% of the stock price variation can be explained by the variables in the model. These findings provide a theoretical contribution to understanding the dynamics of the healthcare capital market and strategic implications for management in formulating optimal financial policies.
| Item Type: | Thesis (Undergraduate) | ||||||||
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| Subjects: | H Social Sciences > HC Economics H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance. Corporation finance H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation |
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| Divisions: | Faculty of Economic and Business > Departement of Management | ||||||||
| Depositing User: | Ellis Grace Grace | ||||||||
| Date Deposited: | 11 Sep 2025 06:47 | ||||||||
| Last Modified: | 11 Sep 2025 06:47 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/42820 |
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