Profitability, Liquidity, Capital Structure, and Stock Prices: Testing Firm Size Interactions in the Transportation and Logistics Sector
DOI:
https://doi.org/10.38035/dijdbm.v7i5.7249Keywords:
Capital Structure, Firm Size, Liquidity, Profitability, Stock PriceAbstract
This study examines the effects of profitability, liquidity, capital structure, and firm size on stock prices and evaluates the moderating role of firm size among transportation and logistics companies listed on the Indonesia Stock Exchange. Secondary data were obtained from annual financial statements and year-end closing stock prices. The sample was selected through purposive sampling based on the criteria established in the thesis. Profitability was measured by return on assets, liquidity by the current ratio, capital structure by the debt-to-equity ratio, and firm size by the natural logarithm of total assets. The data were analyzed using moderated regression analysis after mean-centering the main variables. The findings indicate that profitability, liquidity, capital structure, and firm size do not affect stock prices in the observed sample. The interaction tests also show that firm size does not moderate the effects of profitability, liquidity, or capital structure on stock prices. These results suggest that the selected financial ratios and asset scale alone are insufficient to explain stock-price variation in the sector during the study period
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