Analysis of the Effect of Return on Assets (ROA) and Current
Ratio (CR), on Stock Prices with Earnings Per Share (EPS) as a
Moderation Variable (On the Mining Sector on the IDX 2020-
2022)
1Lanny Fangohoi, 2Sari Yuniarti, 3Harianto Respati
1,2,3University of Merdeka Malang, Indonesia
https://doi.org/10.47191/jefms/v6-i9-16ABSTRACT:
In the investment world, investment decisions are important in determining future investment success. In capital market activities, stock prices are a very important factor and need to be considered by investors because stock prices show the performance of the issuer. One of them is a mining company in Indonesia. The stock price also shows the value of the company, with the higher the stock price of a company, the higher the value of the company and vice versa. Return On Assets (ROA) is a ratio of profitability that shows the result (return) on the total assets used in the Company. The current ratio (CR) is a liquidity ratio that compares the company's current assets with the company's current liabilities. Earnings per share (EPS) is an important indicator in fundamental stock analysis, which describes how much profit a company generates for each share owned by an investor. This study uses regression analysis which aims to determine the effect of variable performance, at least in terms of ROA, does not affect the value of the company's shares in the time period studied. The Current Ratio (CR) also does not affect the share price of mining companies on the Indonesia Stock Exchange in the 2020–2022 period. This means that the company's liquidity level as measured by CR does not significantly affect the company's share price in the market. In the mining industry listed on the Indonesia Stock Exchange in the 2020–2022 period, earnings per share (EPS) does not affect the effect of Return On Assets (ROA) on stock prices. In other words, a change in a company's EPS does not change how ROA affects its share price. Earning Per Share (EPS) is also not able to moderate the influence of the Current Ratio (CR) on share prices in the mining industry which are listed on the Indonesia Stock Exchange in the 2020–2022 period. This means that a change in a company's EPS does not change the way CR affects the company's stock price.
KEYWORDS:
Return on Assets, Current Ratio, Earning Per Share and Stock Price
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