Pengaruh Kebijakan Dividen, Leverage, dan Profitabilitas terhadap Harga Saham Perusahaan Sektor Keuangan di Bursa Efek Indonesia Tahun 2021-2024

Rudy, Hansen (2026) Pengaruh Kebijakan Dividen, Leverage, dan Profitabilitas terhadap Harga Saham Perusahaan Sektor Keuangan di Bursa Efek Indonesia Tahun 2021-2024. Undergraduate thesis, Universitas Katolik Musi Charitas.

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Abstract

This study aims to analyze the effect of dividend policy, leverage, and profitability on stock prices of financial sector companies listed on the Indonesia Stock Exchange during the 2021–2024 period. This period reflects the post-pandemic economic recovery phase as well as capital market volatility influenced by macroeconomic and monetary conditions. The study is based on Signaling Theory and the Efficient Market Hypothesis (EMH), which suggest that fundamental corporate information may influence investor perception and be reflected in stock prices. This research employs a quantitative approach using multiple linear regression analysis. The data used are secondary data obtained from the published financial statements of financial sector companies during the research period. Dividend policy is measured by Dividend Payout Ratio (DPR), leverage is measured by Debt to Equity Ratio (DER), and profitability is measured by Return on Equity (ROE), while stock price is measured using the closing price. The results indicate that dividend policy significantly affects stock prices, leverage has a negative effect on stock prices, while profitability does not have a significant effect on stock prices of financial sector companies. Simultaneously, dividend policy, leverage, and profitability significantly affect stock prices. These findings suggest that in volatile market conditions, investors tend to pay more attention to dividend policy and capital structure rather than profitability levels.

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