DETERMINANTS OF STOCK PRICE: EMPIRICAL EVIDENCE FROM LISTED MANUFACTURING COMPANIES IN INDONESIA

ABSTRACT
This research aims to analyze the factors that influence the price of the stock of manufacturing companies listed in Indonesia. Factors considered in this study include the company’s fundamental variables, namely current ratio, debt equity ratio, return on assets, earning per share and trading volume. The data used is quantitative data from 30 manufacturing companies listed on the Indonesia Stock Exchange in the period 2018-2022. The results of this study indicate that net profit and operating income have a significant positive relationship with the stock price of manufacturing companies in Indonesia. This shows that the company's financial performance current ratio, debt equity ratio, return on assets, earnings per share and trading volume can affect the increase in stock prices. This research has important implications for investors, corporate managers, and capital market regulators. Investors can consider the company’s fundamental factors, especially current ratio, debt equity ratio, return on assets, earning per share and trading volume in making investment decisions. Corporate managers can also use these findings to improve their company’s financial performance and stock price. Capital market regulators can also use the results of this research to formulate policies that drive capital market growth in Indonesia.

Keywords: stock price, trading volume, operating income, debt ratio, manufacturing companies, Indonesia.