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Go Back       Himalayan Journal of Economics and Business Management | Volume:4 Issue:3 | June 30, 2023
81 Downloads214 Views

DOI : 10.47310/Hjebm.2023.v04i03.038       Download PDF       HTML       XML

Determinance of Coal Sub-Industry Stock Price

Muh Azharun Niam1, Isti Fadah2, Handriyono3

1Master degree in business Management, University of Jember, Faculty of Economic and Bussiness, Business Economic and Management, Kalimantan Street Jember, Indonesia

2,3Lecturer University of Jember, Faculty of Economic and Bussiness, Business Economic and Management, Kalimantan Street Jember


*Corresponding Author

Muh Azharun Niam

Article History

Received: 20.06.2023

Accepted: 25.06.2023

Published: 30.06.2023


Abstract: This research is a quantitative research using secondary data. The population in this study is a coal company listed on the Bursa Efek Indonesia (BEI) in the years 2016-2020. The purpose of this research is to know the financial factors such as, Debt to Equity Ratio (DER), Debt to Asset Ratio (DAR), Return on Asset (ROA), Return on Equity (ROE), Dividend policy, against capital value which is represented by the value of Price Book Value (PBV). The data analysis technique used is Multiple Linear Regression test. Based on the results of the analysis can be concluded that:; 1) Debt to Equity Ratio (DER) significantly influence the value of a coal company; 2) Debt to Asset Ratio (DAR) doesn’t significantly affect the value of coal company; 3) Return on Asset (ROA) doesn’t significantly influence the value of a coal company; 4) Return on Equity (ROE) significantly influence the value of a coal company; 5) The dividend policy of a company significantly influences the value of a coal company.


Keywords: Coal industry, Debt to Equity Ratio (DER), Debt to Asset Ratio (DAR), Return on Asset (ROA), Return on Equity (ROE), Dividend policy, and Price Book Value (PBV).


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