The Effect Of Profitability, Leverage, And Tax Avoidance On Stock Prices As Intervening Intervening Variables
Abstract
This study aims to analyze the effect of profitability, leverage, and tax avoidance on stock prices with dividend policy as an intervening variable in companies listed on the LQ45 Index for the period 2022–2024. This study was motivated by fluctuations in LQ45 stock prices and inconsistencies in previous studies regarding factors affecting stock prices and dividend policy. This study uses a quantitative approach with secondary data in the form of annual financial reports obtained from the Indonesia Stock Exchange website. The research population consists of all companies listed on the LQ45 Index for the period 2022–2024, with purposive sampling yielding 81 observations. The data analysis methods used include descriptive statistics, classical assumption tests, multiple linear regression analysis, and hypothesis testing. The results of the study indicate that profitability, leverage, and tax avoidance affect stock prices. In addition, profitability, leverage, tax avoidance, and stock prices also affect dividend policy. Indirectly, profitability, leverage, and tax avoidance through stock prices also influence dividend policy. This study is expected to contribute to companies in their financial decision-making, as well as serve as a reference for investors and future researchers in understanding the factors that influence stock prices and dividend policy.
Downloads
Copyright (c) 2026 Yaya Nur Alfaiza, Ahmad Junaidi, Hernadianto Hernadianto, Ahmad Sumarlan
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
An author who publishes in the EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis agrees to the following terms:
Author retains the copyright and grants the journal the right of first publication of the work simultaneously licensed under the Creative Commons Attribution-ShareAlike 4.0 License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal
Submission of a manuscript implies that the submitted work has not been published before (except as part of a thesis or report, or abstract); that it is not under consideration for publication elsewhere; that its publication has been approved by all co-authors. If and when the manuscript is accepted for publication, the author(s) still hold the copyright and retain publishing rights without restrictions. For the new invention, authors are suggested to manage its patent before published. The license type is CC-BY-SA 4.0.
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
