PENGARUH PROFITABILITAS DAN KEBIJAKAN TERHADAP HARGA SAHAM PADA PERUSAHAAN SEKTOR ENERGI YANG TERDAFTAR DI INDEKS SAHAM SYARIAH INDONESIA
DOI:
https://doi.org/10.24843/EJMUNUD.2026.v15.i8.p04Keywords:
dividend policy, energy sector, issi, profitability, stock priceAbstract
Penelitian ini bertujuan untuk mengetahui dan menganalisis pengaruh profitabilitas dan kebijakan dividen terhadap harga saham pada perusahaan sektor energi yang terdaftar di Indeks Saham Syariah Indonesia (ISSI) periode 2020–2024. Penelitian ini dilatarbelakangi oleh fluktuasi harga saham yang dipengaruhi oleh faktor fundamental perusahaan, khususnya profitabilitas dan kebijakan dividen. Metode penelitian yang digunakan adalah metode kuantitatif dengan pendekatan regresi data panel. Data penelitian berupa data sekunder yang diperoleh dari laporan keuangan tahunan dan data harga saham perusahaan. Teknik pengambilan sampel menggunakan purposive sampling dan diperoleh lima perusahaan sebagai sampel penelitian. Hasil penelitian menunjukkan bahwa secara parsial profitabilitas berpengaruh positif dan signifikan terhadap harga saham dengan nilai signifikansi 0,0002 < 0,05, sedangkan kebijakan dividen tidak berpengaruh signifikan terhadap harga saham dengan nilai signifikansi 0,5905 > 0,05. Secara simultan, profitabilitas dan kebijakan dividen berpengaruh signifikan terhadap harga saham dengan nilai signifikansi 0,000872 < 0,05.
This study aims to determine and analyze the effect of profitability and dividend policy on stock prices in energy sector companies listed in the Indonesia Sharia Stock Index (ISSI) during the 2020–2024 period. This study is motivated by stock price fluctuations influenced by the company’s fundamental factors, particularly profitability and dividend policy. The research employed a quantitative method with a panel data regression approach. The data used were secondary data obtained from annual financial reports and company stock price data. The sampling technique used purposive sampling, resulting in five companies selected as the research sample. The results show that partially, profitability has a positive and significant effect on stock prices with a significance value of 0.0002 < 0.05, while dividend policy does not have a significant effect on stock prices with a significance value of 0.5905 > 0.05. Simultaneously, profitability and dividend policy have a significant effect on stock prices with a significance value of 0.000872 < 0.05.
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