PENGARUH DEBT TO ASSET RATIO, SALES GROWTH, DAN OPERATING CASH FLOW TERHADAP FLUKTUASI HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2020-2024
Keywords:
Debt to Asset Ratio, Sales Growth, Operating Cash Flow, Stock Price FluctuationsAbstract
ABSTRACT This study aims to examine the effect of the Debt to Asset Ratio, Sales Growth, and Operating Cash Flow on stock price fluctuations in manufacturing companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The research employs an associative quantitative approach with a purposive sampling method, resulting in a sample of 10 manufacturing companies. The data used are secondary data analyzed using descriptive statistics, classical assumption tests, and multiple linear regression analysis. The results indicate that, partially, the Debt to Asset Ratio has a negative and significant effect on stock price fluctuations, while Sales Growth and Operating Cash Flow do not show a significant effect. However, simultaneously, the three independent variables are proven to have a significant effect on stock price fluctuations. These findings suggest that a company’s capital structure is a key factor in shaping investor perceptions, while operational performance indicators serve as supporting factors in the assessment of stock prices in the capital market. Keywords: Debt to Asset Ratio, Sales Growth, Operating Cash Flow, Stock Price FluctuationsReferences
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