Article Sidebar
Download
Statistic
Read Counter : 364
Download : 2856
Main Article Content
Abstract
Firm size is still an interesting topic regarding its role in moderating factors that affect share prices. Therefore, the goal of this study is to determine how firm size affects the relationship of profitability, as measured by Gross Profit Margin (GPM), Operating Profit Margin (OPM), and Net Profit Margin (NPM), on share prices of manufacturing companies in the food and beverage sector from 2016 to 2019. Based on the purposive sample technique, 40 observations from 10 companies were chosen. AMOS 24 software was used to do the investigation using the structural equation modeling (SEM) method. In the initial model, it is clear from this analysis that OPM and Company Size significantly affected stock prices. At the same time, there is no significant effect of GPM and NPM on share prices. The second model demonstrates that firm size can moderate the relationship between GPM and OPM on share prices. However, this study cannot prove that firm size can moderate the effect of NPM on share prices.
Keywords
Profitability
Moderating Relationship
Share Price
Food and Beverage
Article Details
This work is licensed under a Creative Commons Attribution 4.0 International License.
How to Cite
Akbar, T. (2023). The The Role of Firm Size in Moderating the Relationship Between Profitability and Share Prices of Food and Beverage Companies. Ilomata International Journal of Tax and Accounting, 4(1), 1-13. https://doi.org/10.52728/ijtc.v4i1.594
References
- Akram, T., Farooq, M. U., Akram, H., Ahad, A., & Numan, M. (2021). The Impact of Firm Size on Profitability-A Study on the Top 10 Cement Companies of Pakistan. Ekonomi Dan Bisnis, 6(1), 14–24.
- Amalya, N. T. (2018). Pengaruh Return on Asset, Return on Equity, Net Profit Margin Dan Debt To Equity Ratio Terhadap Harga Saham. Jurnal SEKURITAS (Saham, Ekonomi, Keuangan Dan Investasi), 1(3), 157–181. https://doi.org/10.32493/skt.v1i3.1096
- Ariesa, Y., Tommy, T., Utami, J., Maharidha, I., Siahaan, N. C., & Nainggolan, N. B. (2020). The Effect of Current Ratio (CR), Firm Size (FS), Return on Equity (ROE), and Earning Per Share (EPS) on the Stock Prices of Manufacturing Companies listed in Indonesia Stock Exchange in the 2014-2018 Period. Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences, 3(4), 2759–2773. https://doi.org/10.33258/birci.v3i4.1286
- Batubara, H. C., & Damayanti, A. (2021). Pengaruh Likuiditas , aktivitas , solvabilitas Terhadap Net Profit Margin Pada Perusahaan Sub-Sektor Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia Periode 2014-2019. Proceding Seminar Nasional Kewirausahaan, 2(1), 837–849.
- Brigham, E. F., & Houson, J. (2010). Dasar-Dasar Manajemen Keuangan. Salemba Empat.
- Bungin, B. (2017). Penelitian Kualitatif : Komunikasi, Ekonomi, Kebijakan Publik, dan Ilmu Sosial Lainnya. Kencana Prenada Media Grup.
- Dwiyanthi, H., Husna, N. F., & Handayani, W. (2021). The Influence of Financial Ratios on Share Prices (Case Studies on Property & Realestate Companies in the Construction and Building Sub-Sector Listed on the Indonesia Stock Exchange). International Conference on Economics, Management, and Accounting, 412–424. https://doi.org/10.11594/nstp.2021.1046
- Ghozali, I. (2014). Model Persamaan Struktural Konsep dan Aplikasi dengan AMOS 22.0 Update Bayesian SEM. Badan Penerbit Universitas Diponegoro.
- Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25. Badan Penerbit Universitas Diponegoro.
- Gitman, J. L. (2009). Principle of Managerial Finance. Pearson International Edition.
- Hadi. (2015). Pasar Modal (2nd ed.). Graha Ilmu.
- Hadiyanti, S. U. E., & Saputra, P. H. (2020). Fundamental Analysis Technic and Stock Price. Jurnal Ekonomi Dan Manajemen, 14(2), 234–247.
- Hanafi, M. M., & Halim, A. (2018). Analisis Laporan Keuangan. UPP STIM YKPN.
- Hery. (2018). Analisis Laporan Keuangan (Adipramono, Ed.; 3rd ed.). PT Grasindo.
- Intan, K. (2021). Industri Mamin Masih Akan Tertekan, Simak Saham-Saham Rekomendasi Analis. https://investasi.kontan.co.id/news/industri-mamin-masih-akan-tertekan-simak-saham-saham-rekomendasi-analis
- Mahruzal, & Khaddafi, M. (2020). The Influence of Gross Profit Margin, Operating Profit Margin and Net Profit Margin on the Stock Price of Consumer Good Industry in the Indonesia Stock Exchange on 2012-2014. International Journal of Business, Economics, and Social Development, 1(3), 153–163. https://doi.org/10.46336/ijbesd.v1i3.53
- Mardianti, D., Yusrizal, & Hayati, R. (2019). Analisis Pengaruh Return on Equity, Earning Per Share, Dan Operating Profit Marginterhadap Harga Saham Perusahaan Manufaktur Sektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia Periode 2013-2017. Kurs : Jurnal Akuntansi, Kewirausahaan Dan Bisnis, 4(1), 71–82.
- Miller, C., & Whiting, H. (2005). Voluntary Disclosure of Intellectual Capital and The Hidden Value. Proceedings of the Accounting and Finance Association of Australia and New Zealand Conference.
- Mukhtasyam, N. U. Z., Pagalung, G., & Arifuddin. (2020). Effect of Profitability, Liquidity, and Solvability on Share Prices with Earning Per Share (EPS) As a Moderating Variables. International Journal of Innovative Science and Research Technology, 5(8), 1571–1577.
- Peranginangin, A. M. (2019). The Effect of Profitabilty, Debt Policy and Firm Size on Company Value in Consumer Goods Companies. Abstract Proceedings International Scholars Conference, 7(1), 1217–1229. https://doi.org/10.35974/isc.v7i1.1587
- Sartono, A. (2016). anajemen Keuangan Teori dan Aplikasi (4th ed.). BPFE UGM.
- Selfiani, & Yunita, I. (2021). the Effect of Green Accounting Disclosure, Company Size, on Stock Return With Gcg As a Moderating Variable. International Journal of Business, Economics and Law, 24(5), 156–165.
- Sherman, E. H. (2015). A Manager’s Guide to Financial Analysis (6th ed.). merican Management Association.
- Sitorus, F. D., Perangin-angin, M. N. S., & Lim, V. (2021). The Effect of Firm Size, Profitability, Capital Structure and Liquidity on Stock Market Prices of Manufacturing Companies on the Indonesia Stock Exchange. Mantik Journal, 5(1), 343–353.
- Sobana, D. H. (2021). The Effect of Return on Assets, Firm Size, and Financing To Deposit Ratio on the Stock Price of Pt. BRI Sharia, Tbk. Amwaluna: Jurnal Ekonomi Dan Keuangan Syariah, 5(2), 291–306. https://doi.org/10.29313/amwaluna.v5i2.7152
- Sudirman, Kamaruddin, & Possumah, B. T. (2020). The Influence of Net Profit Margin, Debt to Equity Ratio, Return on Equity and Earning per Share on the Share Prices of Consumer Goods Industry Companies in Indonesia. International Journal of Advanced Science and Technology, 29(7), 13428–13440.
- Sugiyono. (2017). Metode Penelitian Pendidikan (Pendekatan Kuantitatif, Kualitatif dan R&D. Alfabeta.
- Sunariyah. (2011). Pengantar Pengetahuan Pasar Modal (6th ed.). UPP STIM YKPN.
- Sunaryo, D. (2022). Importance of Current Ratio and Dividend Yield Ratio in Moderating Process on Stock Prices. Ilomata International Journal of Management, 3(3), 380–402. https://doi.org/10.52728/ijjm.v3i3.490
- Warkula, Y. Z., Junus, A., & Darmawati, D. (2022). The Impact of Return on Profit, Company Value and Company Size on Stock Prices in Manufacturing Companies Listed on IDX. SRAWUNG (Journal of Social Sciences and Humanities), 1(2), 25–37.
- Yuliza, A. (2018). The Effects of Earnings Per Share and Firm Size to Stock Price LQ45 Company Listed in Indonesian Securities. International Journal of Engineering & Technology, 7(4.9), 247. https://doi.org/10.14419/ijet.v7i4.9.21089