PENGARUH DEBT TO EQUITY RATIO DAN BOOK VALUE PER SHARE TERHADAP HARGA SAHAM YANG DIMODERASI OLEH PRICE EARNING RATIO SEKTOR PELAYARAN PADA BURSA EFEK INDONESIA TAHUN 2015-2020

Abstract

Stock price is one of the factors that investors consider to invest in a company. The stock price shows good company performance and management. The purpose of this study was to determine the effect of Debt To Equity Ratio and Book Value Per Share on stock prices moderated by the Price Earning Ratio of the shipping sector on the Indonesian stock exchange in 2015-2020. The sampling method of this research is purposive sampling and obtained as many as 30 samples that meet the criteria of 17 companies that become observation data. The analytical technique used in this research is Moderated Regression Analysis. The results of this study indicate that the variable Debt To Equity Ratio has no effect on stock prices, while Book Value Per Share and Price Earning Ratio partially have a significant effect on stock prices. Price Earning Ratio significantly weakens the influence of the Debt To Equity Ratio on stock prices and does not significantly strengthen the influence of Book Value Per Share on stock prices. The results of the coefficient of determination test showed that the independent variable, moderating variable, and the interaction of the two variables were able to explain the dependent variable of 94.9%, while the remaining 5.1% was explained by other variables not explained in this study.