Fundamental and Macroeconomic Analysis on Stock Price

(Study At PT Tambang Batubara Bukit Asam, Tbk.)

Authors

  • Jan Horas Veryady Purba Sekolah Tinggi Ilmu Ekonomi Kesatuan

Keywords:

fundamental analysis, macroeconomics, stock prices

Abstract

Abstract. The purpose of this research is to analyze the influence of fundamentals and
macroeconomics on stock prices. The research was conducted at PT Tambang Batubara
Bukit Asam, Tbk. Multiple linear regression method is used in parameter estimation
method. The findings of this study show: (a) the results of fundamental analysis which
includes the ratio of debt to equity (DER), return on assets (ROA) has a positive influence
on stock prices, while earnings per share (EPS) and total assets turnover (TATO) have a
negative influence on stock prices; (b) While in terms of macroeconomics, inflation has a
positive effect on stock prices and the exchange rate has a negative effect on stock prices.

Keywords: fundamental analysis, macroeconomics, stock prices

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Published

2021-06-26