Firm Size on IDX BUMN 20 Stock Prices: The Role of Mediating Activity and Profitability

Mochammad Ikhlas Ruri Diens Baihaqi; Wawan Ichwanudin; Enis Khaerunnisa

doi:10.55927/ijems.v2i4.10468

Authors

Mochammad Ikhlas Ruri Diens Baihaqi Universitas Sultan Ageng Tirtayasa
Wawan Ichwanudin Universitas Sultan Ageng Tirtayasa
Enis Khaerunnisa Universitas Sultan Ageng Tirtayasa

DOI:

https://doi.org/10.55927/ijems.v2i4.10468

Keywords:

BUMN, Firm Size, ROA, Stock Price, TATO

Abstract

This study investigates if firm size increases stock prices using activity and profitability as mediating variables. It employs a quantitative causality method using secondary data from financial reports on firm websites and the IDX. The sample includes companies listed in the IDX BUMN 20 index from 2018-2021, using non-probability sampling and unbalanced panel data estimated with a random effects model. Data analysis involves descriptive statistics, mediation regression, and path analysis with Eviews 12 software. Results indicate firm size and profitability positively impact stock price, firm size positively impacts profitability, activity does not impact stock price, and activity and profitability do not mediate the firm size-stock price relationship

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