The Effect of Current Ratio and Debt to Asset Ratio on Net Profit Margin and Stock Prices: A Study of Basic Industry and Chemicals Companies

Authors

  • Sudirman  Faculty of Islamic Economics and Business, State Islamic University of Alauddin Makassar, Indonesia
  • Muhammad Wahyuddin Abdullah  Faculty of Islamic Economics and Business, State Islamic University of Alauddin Makassar, Indonesia
  • Muhammad Obie  Department of Sociology, State Islamic University of Sultan Amai Gorontalo, Indonesia

DOI:

https://doi.org/10.32628/IJSRST207561

Keywords:

Current Ratio, Debt to Asset Ratio, Net Profit Margin, Stock Price, Indonesia Stock Exchange

Abstract

This study examined the effect of current ratio and debt to asset ratio on net profit margin and stock prices of the sector basic industry and chemicals companies listed on the Indonesia Stock Exchange in the period 2015-2019. The object of research was the stock prices of companies in the Basic Industry and Chemicals sector, which have been published through the official website of the Indonesian capital market. It was used secondary data derived from the monthly statistics, including Current Ratio data, Net Profit Margin, Debt to Asset Ratio, and data on closing prices for the period 2015-2019. In analyzing data, it was used path analysis of secondary data obtained from the basic industry sector financial statements of 60 companies. The company's performance in this sector is considered quite good when seen from the movement of the index value in the last five years. The results show that direct current ratio had a positive and significant effect on the net profit margin, and the debt to equity ratio did not significantly influence the net profit margin. The current ratio has a positive and significant effect on stock prices, and the debt to equity ratio has a negative and not significant effect on stock prices. In contrast, the net profit margin has a significant effect on stock prices in the basic industry sector companies on the Indonesia Stock Exchange. Indirectly the current ratio has a positive and significant effect on stock prices. In contrast, the debt to asset ratio has a negative and not significant effect on the company's stock prices in the basic industry sector on the Indonesia Stock Exchange.

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International Journal of Scientific Research in Science and Technology

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Published

2020-10-30

Issue

Volume 7, Issue 5, September-October-2020

Section

Research Articles

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How to Cite

[1]
Sudirman, Muhammad Wahyuddin Abdullah, Muhammad Obie "The Effect of Current Ratio and Debt to Asset Ratio on Net Profit Margin and Stock Prices: A Study of Basic Industry and Chemicals Companies" International Journal of Scientific Research in Science and Technology(IJSRST), Online ISSN : 2395-602X, Print ISSN : 2395-6011,Volume 7, Issue 5, pp.282-294, September-October-2020. Available at doi : https://doi.org/10.32628/IJSRST207561