PENGARUH ARUS KAS, ECONOMIC VALUE ADDED DAN SUKU BUNGA TERHADAP HARGA SAHAM DENGAN INFLASI SEBAGAI VARIABEL MODERASI
Abstract
Abstract
This study aims to examine the influence of cash flow, economic value added, and interest rates on stock prices, with inflation as a moderating variable. The research was conducted on companies listed in the Index-LQ45 from the period of 2017 to 2022. The population consisted of 11 companies selected using purposive sampling as the data collection method, and the data was analyzed using panel data analysis and processed using Eviews 9. Based on the test results, this research shows that cash flow and economic value added do not have a significant effect on stock prices, while interest rates do have an impact on stock prices. Inflation does not affect the relationship between cash flow, economic value added, and interest rates with stock prices. Stock prices are influenced by various fundamental factors and broader market sentiments. Factors such as company performance, growth prospects, macroeconomic stability, investor sentiment, and revenue forecasts will have a more direct influence compared to the inflation rate.
Keywords: Stock Prices, Cash Flow, Economic Value Added, Interest Rates, Inflation.
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