The The Influence of Debt to Equity Ratio, Working Capital Turnover and Accounts Receivable Turnover on Stock Prices in Manufacturing Companies in the Food and Beverage Subsector on the Indonesia Stock Exchange in 2018-2021

Abstract

The stock price is the price that is formed according to supply and demand in the stock market and is the closing price. This study aims to examine the effect of the variable Debt to Equity Ratio, Working Capital Turnover and Accounts Receivable Turnover on stock prices either partially or simultaneously. The population of the food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange in 2018-2021 is 30 companies and samples that meet the criteria by using purposive sampling obtained a sample of 20 companies. The method of data collection is the documentation of financial statements from the Indonesia Stock Exchange (IDX) website. The analytical method used is the classical assumption test and hypothesis testing as well as multiple linear analysis. The results of this study indicate that partially Debt to Equity Ratio and Working Capital Turnover variables partially affect stock prices, while Accounts Receivable Turnover partially has no effect on stock prices and simultaneously all independent variables affect stock prices. The adjusted R Square value of 0.514 indicates the dependent variable (stock price) can be explained by the Independent variable (Debt to Equity Ratio, Working Capital Turnover and Accounts Receivable Turnover) of 54.1%.