Determinants Of Stock Prices And Their Influence On Company Value In The Manufacturing Industry Listed On The Idx

Abstract

The purpose of this study is to analyze the influence of information asymmetry, GCG, intellectual capital and integrated reports on stock prices and the effect of stock prices on company value. Design/Methodology/approach – This data analysis uses statistical calculations with the application of Eviews version 13. The analysis unit for this study is companies located in Indonesia, especially the manufacturing industry that goes public listed on the Indonesia Stock Exchange (IDX) which presents annual and audited reports for the 2017-2023 reporting period. The population studied was 195 companies. For a sample of manufacturing industries that have annual reports and financial statements and are continuously researched using the "purposive sampling" technique.  The research sample was 80 companies assessed over five years (i.e. 400 samples). First Findings, Information asymmetry has a significant negative relationship with stock prices; both GCGs have an insignificant relationship with stock prices; third, intellectual capital has a significant negative relationship with stock prices; fourth, integrated reporting (IR) has a significant negative relationship to stock prices; and sixth, the stock price has a significant positive relationship to the value of the company. The authenticity/authenticity value of this study can be found in the analysis of the relationship between the determinants of stock prices (Information Asymmetry, GCG, Intellectual Capital and Integrated Reports) and Company Value, where the result is that the relationship that occurs affects each other, while in the previous study the variable relationship is unidirectional. Previous research was analyzed to understand the influence of information asymmetry, GCG, intellectual capital, and integrated reports on stock prices and the effect of stock prices on company value. There is a difference in results between the research that supports the allegation that information asymmetry, intellectual capital and integrated reports have a positive effect on stock prices, and GCG has a positive effect on stock prices and stock prices have a negative effect on company value. With these differences, this study re-examines the influence of information asymmetry, GCG, intellectual capital and integrated reports on stock prices and stock prices on company value.