(Universitas Negeri Medan, Indonesia)(2) Syahrizal Chalil
(Universitas Negeri Medan, Indonesia)(3) Dita Eka Pertiwi Sirait
(Universitas Negeri Medan, Indonesia)(4) Artika Wulandari
(Universitas Negeri Medan, Indonesia)*corresponding author
AbstractThis research aims to study how Inventory Turnover and Return on Equity (ROE) impact stock prices in companies within the miscellaneous manufacturing industry listed on the Indonesia Stock Exchange from 2020 to 2020. This study uses a quantitative approach and is designed as a longitudinal quantitative study. The sample consists of ten companies selected purposively, resulting in 50 panel observations. Secondary data comes from official publications of the Indonesia Stock Exchange (IDX), as well as annual financial reports. The analysis was conducted using a panel data regression model and model selection tests (Chow, Hausman, Lagrange Multiplier), as well as t-tests, F-tests, and the coefficient of determination (R2). The research results indicate that inventory turnover are not significantly affected by stock prices (t-statistic < t-table; p > 0.05), suggesting that during the study period, inventory turnover efficiency was not yet a primary consideration for the market when assessing the value of industry stocks. Conversely, return on equity had a positive impact on stock prices (t-statistic > t-table; p < 0.05), indicating that the market was more responsive to a business's ability to generate profits from its own capital. Inventory Turnover and ROE significantly contribute to the simultaneous variation in stock prices (significant F-test), but the R2 value of 0.3143 indicates that these two variables account for approximately 31.43% of the variation in stock prices, with the remainder influenced by factors outside the model. Beside emphasizing the importance of improving profitability and report transparency for business management. KeywordsInventory Turnover, Return On Equity, Stock Price
|
DOIhttps://doi.org/10.57235/bima.v3i1.7649 |
Article metrics10.57235/bima.v3i1.7649 Abstract views : 0 | PDF views : 0 |
Cite |
Full Text Download
|
References
Aini, Q., & Lestiyadi, A. P. (2025). Pengaruh Current Ratio Dan Inventory Turnover Terhadap Return On Assets Pada PT Matahari Department Store Tbk Periode 2014 – 2023. Neraca Akuntansi Manajemen, Ekonomi, 23(8), 1–11. https://doi.org/https://doi.org/10.2324/9pdcjn21
Amelia, W., & Hakim, A. D. M. (2024). Pengaruh Price Earning Ratio , Inventory Turnover , Return On Equity , Dan Price To Book Value Terhadap Harga Saham. Prosiding Seminar Nasional Fakultas Ekonomi Dan Bisnis, 1(1), 959–971.
Aprilianti, W., & Sisdianto, E. (2024). Pengaruh Faktor Fundamental Terhadap Harga Saham Pada Kinerja Keuangan Perusahaan Yang Terdaftar Di Bursa Efek Indonesia ( BEI ). JUBIKIN : Jurnal Bisnis Kreatif Dan Inovatif, 1(2), 33–43. https://doi.org/https://doi.org/10.61132/jubikin.v1i2.90
Christine, D., & Winarti. (2022). Pengaruh Return on Assets ( ROA ), Return on Equity ( ROE ), dan Earning per Share ( EPS ) terhadap harga saham. Owner: Riset & Jurnal Akuntansi, 6(4), 4113–4124. https://doi.org/https://doi.org/10.33395/owner.v6i4.1096
Firmansyah, B., & Hidayati, A. N. (2023). Pengaruh Profitabilitas, Harga Saham, Dan Earning Per Share Terhadap Nilai Perusahaan Pada Perusahaan Infrastruktur Yang Terdaftar Di Jakarta Islamic Index 70 Periode 2018-2021. Jurnal Ekobis Dewantara, 6(1), 421–436. https://doi.org/10.30738/ed_en.v6i1.3679
Gunawan, Pratiwi, A., & Wulandari. (2024). Pengaruh Quick Ratio ( QR ), Inventori Turnover ( ITO ) Dan Ukuran Perusahaan ( SIZE ) Terhadap Return On Equity ( ROE ) Pada PT . Semen Indonesia Tbk . JUMANSI : Jurnal Ilmiah Manajemen Dan Akuntansi Medan, 6(2), 1–15. https://doi.org/https://doi.org/10.47709/jumansi.v6i2.4128
Indriyani, Lokano, R., & Dewi, E. S. (2024). Analisis Pengaruh Return on Equity terhadap Harga Saham dengan Price to Book Value sebagai Variabel Intervening pada Perusahaan yang Terdaftar di Bursa Efek Indonesia. Prosiding Seminar Nasional Ilmu Ekonomi Dan Akuntansi, 1(2), 365–376. https://doi.org/https://doi.org/10.62951/prosemnasieda.v1i2.33
Kosmaryati, Handayani, C. A., Isfahani, R. N., & Widodo, E. (2019). Faktor-Faktor yang Mempengaruhi Kriminalitas di Indonesia Tahun 2011-2016 dengan Regresi Data Panel. Indonesian Journal Of Applied Statistics, 2(1), 10–20. https://doi.org/https://doi.org/10.13057/ijas.v2i1.27932
Mudawanah, S., & Sopiyan, A. (2021). Pengaruh Net Profit Margin (Npm), Current Ratio (Cr), Dan Earning Per Share (Eps) Terhadap Harga Saham Perusahaan Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Studia Akuntansi Dan Bisnis, 9(1), 51–64. https://doi.org/https://doi.org/10.55171/jsab.v9i1.573
Panggabean, S. M. E., & Margareta, E. (2025). Pengaruh Sales Growth Dan Inventory Turnover Terhadap Return Saham Dengan Profitabilitas Sebagai Variabel Moderating Pada Perusahaan Sektor Industrials Periode 2020-2023. JMankeu : Jurnal Manajemen Terapan Dan Keuangan, 14(03), 1362–1375. https://doi.org/https://doi.org/10.22437/jmk.v14i03.48225
Pitaloka, K. G. Z., Rahayu, M., & Emarawati, J. A. (2020). Inventory Turnover dan Sales Growth terhadap Profitabilitas. IKRAITH-EKONOMIKA, 5(1), 212–221.
Prasetio, A. D. P., Murni, S., & Jan, A. B. H. (2022). Analisis Pengaruh Kinerja Keuangan Terhadap Harga Saham Pada Perusahaan Farmasi Yang Terdaftar Di Bei Masa Pandemi. Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 10(4), 2050–2060. https://doi.org/https://doi.org/10.35794/emba.v10i4.44504
Ristati, Wahyuni, S., Akhyar, C., & Bahri, H. (2021). The Effect Of Cash Turnover , Inventory Turnover And Receivables Turnover On Profitabilityat A Food And Beverages Company On The Indonesian Stock Exchange. Journal of Accounting Research, Utility Finance and Digital Assets THE, 2(4), 1004–1011. https://doi.org/https://doi.org/10.54443/jaruda.v2i4.144
Rivaldy, M. F., Pratiwi, L. N., & Laksana, B. (2022). Pengaruh Current Rasio dan Inventory Turnover terhadap Return on Asset pada Perusahaan Sub Sektor Semen. Indonesian Journal of Economics and Management, 2(2), 355–367. https://doi.org/https://doi.org/10.35313/ijem.v2i2.3687 Indonesian
Seventeen, W. L., & Shinta, S. D. (2021). Pengaruh Economic Value Added dan return On Equity (ROE) Terhadap Harga Saham pada perusahaan Investasi yang Terdaftar Di BEI Tahun 2016-2019. Jurnal Akuntansi Unihaz-Jaz, 4(1), 138–146. https://doi.org/https://doi.org/10.32663/jaz.v4i1.2094
Suriana, N., Nengsih, T. A., & Sudharyati, N. (2024). Pengaruh Rasio Keuangan terhadap Harga Saham pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2020-2023. Bertuah : Journal of Shariah and Islamic Economics, 5(3), 524–531.
Wairisal, P. L. (2024). Implikasi return on equity (roe) dalam membangun kinerja perusahaan yang berkelanjutan. COSMOS: Jurnal Ilmu Pendidikan, Ekonomi Dan Teknologi, 1(4), 238–249. https://doi.org/https://doi.org/10.37567/cosmos.v1i4.154
, 10(4), 2050–2060. https://doi.org/https://doi.org/10.35794/emba.v10i4.44504
Ristati, Wahyuni, S., Akhyar, C., & Bahri, H. (2021). The Effect Of Cash Turnover , Inventory Turnover And Receivables Turnover On Profitabilityat A Food And Beverages Company On The Indonesian Stock Exchange. Journal of Accounting Research, Utility Finance and Digital Assets THE, 2(4), 1004–1011. https://doi.org/https://doi.org/10.54443/jaruda.v2i4.144
Rivaldy, M. F., Pratiwi, L. N., & Laksana, B. (2022). Pengaruh Current Rasio dan Inventory Turnover terhadap Return on Asset pada Perusahaan Sub Sektor Semen. Indonesian Journal of Economics and Management, 2(2), 355–367. https://doi.org/https://doi.org/10.35313/ijem.v2i2.3687 Indonesian
Seventeen, W. L., & Shinta, S. D. (2021). Pengaruh Economic Value Added dan return On Equity (ROE) Terhadap Harga Saham pada perusahaan Investasi yang Terdaftar Di BEI Tahun 2016-2019. Jurnal Akuntansi Unihaz-Jaz, 4(1), 138–146. https://doi.org/https://doi.org/10.32663/jaz.v4i1.2094
Suriana, N., Nengsih, T. A., & Sudharyati, N. (2024). Pengaruh Rasio Keuangan terhadap Harga Saham pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2020-2023. Bertuah : Journal of Shariah and Islamic Economics, 5(3), 524–531.
Wairisal, P. L. (2024). Implikasi return on equity (roe) dalam membangun kinerja perusahaan yang berkelanjutan. COSMOS: Jurnal Ilmu Pendidikan, Ekonomi Dan Teknologi, 1(4), 238–249. https://doi.org/https://doi.org/10.37567/cosmos.v1i4.154
Refbacks
- There are currently no refbacks.
Copyright (c) 2026 Gracella Rosnah S Hutagalung, Syahrizal Chalil, Dita Eka Pertiwi Sirait, Artika Wulandari
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.