PENGARUH RASIO LIKUIDITAS DAN PENGUNGKAPAN INFORMASI LINGKUNGAN TERHADAP HARGA SAHAM: STUDI PADA SEKTOR PROPERTI DAN REAL ESTATE DI INDONESIA

Sheva Nuura Azhima

doi:10.53712/aktiva.v9i2.2319

PENGARUH RASIO LIKUIDITAS DAN PENGUNGKAPAN INFORMASI LINGKUNGAN TERHADAP HARGA SAHAM: STUDI PADA SEKTOR PROPERTI DAN REAL ESTATE DI INDONESIA

Sheva Nuura Azhima

Abstract

ABSTRACT

This study aims to investigate the impact of liquidity ratios and environmental information disclosure on the stock prices of property and real estate companies in Indonesia. The research employs a quantitative approach and uses secondary data from annual reports and sustainability reports of companies for the period 2022-2023. Data analysis was conducted using SmartPLS to examine the relationships between variables. The results show that neither liquidity ratios nor environmental information disclosure have a significant impact on stock prices, with path coefficients of -0.455 and 0.265, and T-statistics of 1.166 and 0.869, respectively. These findings suggest that factors such as financial stability and environmental transparency may not be strong enough to influence investor perceptions and stock prices in the context of the property and real estate market in Indonesia. This research highlights the need for company management to balance environmental disclosure and financial considerations to maintain investor confidence.

Keywords: liquidity ratios; environmental information disclosure; stock prices

ABSTRAK

Penelitian ini bertujuan untuk menyelidiki pengaruh rasio likuiditas dan pengungkapan informasi lingkungan terhadap harga saham perusahaan properti dan real estate di Indonesia. Penelitian ini menggunakan pendekatan kuantitatif serta data sekunder dari laporan tahunan dan laporan keberlanjutan perusahaan untuk periode 2022-2023. Analisis data dilakukan menggunakan SmartPLS untuk menguji hubungan antara variabel. Hasil penelitian menunjukkan bahwa baik rasio likuiditas maupun pengungkapan informasi lingkungan tidak memiliki pengaruh signifikan terhadap harga saham, dengan path coefficient masing-masing -0,455 dan 0,265 serta T-statistic 1,166 dan 0,869. Temuan ini mengindikasikan bahwa faktor-faktor seperti stabilitas keuangan dan transparansi lingkungan mungkin tidak cukup kuat untuk mempengaruhi persepsi investor dan harga saham dalam konteks pasar properti dan real estate di Indonesia. Penelitian ini menyoroti perlunya manajemen perusahaan untuk menyeimbangkan antara pengungkapan lingkungan dan pertimbangan keuangan untuk menjaga kepercayaan investor.

Kata kunci: rasio likuiditas; pengungkapan informasi lingkungan; harga saham

Keywords

Keywords: liquidity ratios; environmental information disclosure; stock prices

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DOI: http://dx.doi.org/10.53712/aktiva.v9i2.2319