The Effect of Dividend Policy, Total Assets Turnover and Net Profit on Stock Prices in the Energy and Mining Sector

Asifa Al Fauzan; Siti Nur'aidawati

doi:10.61536/escalate.v4i4.749

Authors

Asifa Al Fauzan Pamulang University
Siti Nur'aidawati Pamulang University

DOI:

https://doi.org/10.61536/escalate.v4i4.749

Keywords:

Dividend Policy, Net Income, Panel Data Regression, Stock Price, Total Asset Turnover

Abstract

The energy and mining sectors are highly susceptible to commodity price volatility and global economic conditions, making it important to understand stock price movements from a fundamental perspective. This study aims to analyze the effect of dividend policy, Total Asset Turnover (TATO), and net profit on stock prices. The study used an associative quantitative approach with secondary data from 109 energy and mining companies listed on the Indonesia Stock Exchange. The sample was selected using purposive sampling, resulting in six companies with 30 observations during 2021–2025. Data were obtained from financial reports and stock price documentation, then analyzed using panel data regression with EViews 13. The results showed that dividend policy had a negative but insignificant effect, TATO had a positive but insignificant effect, while net profit had a positive and significant effect on stock prices. Simultaneously, all three variables had a significant effect with an Adjusted R-squared of 94.04%. In conclusion, net profit is the most dominant fundamental factor related to stock price movements

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