FINANCIAL PERFORMANCE AND MARKET RATIO ON STOCK PRICES OF COMPANIES LISTED ON THE JAKARTA ISLAMIC INDEX (JII)

VIVIT KHOIRIYAH; SURYANI SRI LESTARI; MELLA KATRINA SARI

Authors

VIVIT KHOIRIYAH Politeknik Negeri Semarang
SURYANI SRI LESTARI Politeknik Negeri Semarang
MELLA KATRINA SARI Politeknik Negeri Semarang

Keywords:

Stock Prices, ROE, DER, PER, PBV

Abstract

The Jakarta Islamic Index (JII) has experienced fluctuating developments over the past 4 years. The most significant decline occurred in 2021, amounting to 11%. The decrease in the Jakarta Islamic Index (JII) was influenced by several factors, including global economic slowdown due to the Covid-19 pandemic impacting demand, production, and exports, political and geopolitical uncertainties, and the factor of rising global crude oil prices, which could potentially increase production costs and inflation.This study aims to analyze the significance of the influence of ROE, DER, PER, and PBV on Stock Prices of Companies Listed on Jakarta Islamic Index (JII) for the Period 2020-2023. The population in this study consists of all companies listed on the Jakarta Islamic Index (JII), while the sample comprises 16 companies listed on the Jakarta Islamic Index (JII) during the period 2020-2023, selected using purposive sampling technique. The analytical model employed in this research is the Multiple Linear Regression Analysis with Panel Data, while the analysis techniques include simultaneous significance test (F-test), Coefficient of Determination test (R²), and partial significance test (t-test), processed using Eviews 12 software. The results of hypothesis testing and discussion indicate that Return on Equity (ROE), Debt to Equity Ratio (DER), Price Earning Ratio (PER), and Price to Book Value (PBV) have a significant influence on Stock Prices. Partially, Debt to Equity Ratio (DER) and Price Earning Ratio (PER) do not significantly affect Stock Prices, whereas Return on Equity (ROE) and Price to Book Value (PBV) partially have a significant influence on Stock Prices of Companies Listed on Jakarta Islamic Index (JII) for the Period 2020-2023.

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