This study aims to analyze the effect of fundamental ratios and macroeconomic elements on the stock value of companies listed on the LQ45 index on the Indonesia Stock Exchange during the period 2022 to 2024. The variables analyzed in this study include Return on Assets (ROA), Dividend Per Share (DPS), Inflation, and BI Interest Rates. This study uses secondary data, namely financial reports and macroeconomic data obtained from the IDX and Bank Indonesia websites. Of the total 45 companies included in the LQ45 index, 33 companies were selected as samples based on previously determined criteria. The analysis was carried out using panel data regression techniques, with the help of SPSS version 27 software. The findings of this study indicate that the DPS variable has a positive and significant effect on stock prices. Meanwhile, the ROA, Inflation, and BI Interest Rate variables do not show a significant effect on stock prices. The limitations of this study lie in its focus which only looks at companies in the LQ45 index and variables that only include ROA, DPS, BI rate, and inflation. Based on the research results and limitations, it is recommended that further research add other variables and expand the sample scope so that the results obtained can be generalized to a broader sector.
Telaumbanua et al. (Tue,) studied this question.