Influence Factor Fundamental, Volume Trading and Market Value Added to Stock Prices of Technology Sector Companies on IDX Period 2021– 2024

Authors

  • Mulyadi Mulyadi Universitas Bhayangkara Jakarta Raya, Jakarta, Indonesia
  • Widi Winarso Universitas Bhayangkara Jakarta Raya, Jakarta, Indonesia
  • Hartanti Hartanti Universitas Bina Sarana Informatika, Jakarta, Indonesia
  • Yani Restiyani Widjaja Universitas Adhirajasa Reswara Sanjaya, Bandung, Indonesia

DOI:

https://doi.org/10.38035/gijea.v4i3.1178

Keywords:

Fundamental Factors, Industry, Market Value Added, Stock Price, Trading Volume

Abstract

This study aims to examine and analyze the influence of fundamental factors represented by the current ratio, return on equity, and debt-to-equity ratio, as well as trading volume and market value added variables on the stock prices of Teknologial sector companies listed on the Indonesian Indonesian Stock Exchange (BEI) during the 2021–2024 period. This study uses a quantitative approach with secondary data obtained from published financial reports and stock market data. The study population includes all Teknologial sector companies listed on the BEI, while the sampling technique used is purposive sampling with certain criteria, resulting in 12 companies as research samples with an observation period of five years. The data analysis method used is panel data regression with the help of Eviews 13 software. The results show that partially the current ratio, debt-to-equity ratio, and trading volume have a significant effect on stock prices, indicating that the level of liquidity, capital structure, and trading activity play an important role in determining stock value in the market. Conversely, return on equity and market value added do not have a significant effect on stock prices, indicating that equity-based profitability and market value added are not always the main considerations for investors in this sector. Simultaneously, the current ratio, return on equity, debt to equity ratio, trading volume, and market value added have a significant effect on stock prices, which means that a combination of fundamental factors, market activity, and investor assessments can collectively influence stock price movements of Teknologial sector companies in the BEI.

References

Afifah, RN, Syarief, ME, & Nurrachmi, I. (2021). The effect of economic value added and market value added on stock prices of companies listed on the Jakarta Islamic Index. Journal of Applied Islamic Economics and Finance, 2 (1), 48–54. https://doi.org/10.35313/jaief.v2i1.2853

Agustina, D. N., & Mulyadi. (2019). Influence debt to equity ratio, total assets turnover, current ratio, And net profit margin to growth profit on company manufacturing on the Indonesia Stock Exchange. 6 (1). www.BEI.co.id. https://doi.org/10.30587/manajerial.v1i1.424

Al Rafi, F., Arifai, S., & Supriadi. (2024). The influence of economic value added (EVA), market value added (MVA), and company value on stock prices PT. Bank Panin Dubai Sharia. Journal of Islamic Economic Law: Aiconomia, 3 (1), 01–14. https://doi.org/10.32939/acm.v3i1.3132

Arifin, Z. (2005). Theory finance and market capital. Ekonosia.

Astawinetu, D. E., & Handani, S. (2021). Theory portfolio and market capital Indonesia Scopindo Library Media.

Dewi, NBSD, & Sarfinah, NS (2022). The effect of exports, government spending, and foreign direct investment on economic growth in Indonesia (1990–2021). Jurnal Cakrawala Ilmiah, 1 (12). https://doi.org/10.53625/jcijurnalcakrawalailmiah.v1i12.3194

Fatmawati, A., Triyono, A., & Marheni. (2023). The effect of financial performance on stock prices sharia on company manufacturing Which registered in Jakarta Islamic Index (JII) 2017-2021. Journal of Islamic Accounting, 4 (1), 68–85. https://www.BEI.co.id/ https://doi.org/10.32923/bdg.v4i1.3552

Fridayanthi, NMAY, Padnyawati, KD, & Hutnaleontina, PN (2023). The influence of policy dividend, leverage, volume trading, And mark swap rupiah to Stock prices, particularly in the consumer goods sector, listed on the Indonesia Stock Exchange. https://doi.org/10.32795/hak.v4i4.3322

Good morning, F., Rosmanidar, E., & Rahma, S. (2024). Influence analysis fundamental, technical and bandarmology to price share sharia Which registered in Jakarta Islamic Index for the 2018-2021 period. 5, 1752. https://doi.org/10.47467/elmal.v5i4.920

Hamdia, A., Oktari, Arnika, & Agustin, N. (2024). Difference index price share sharia and conventional in the Indonesian capital market.

Jeynes, Z., & Budiman, A. (2024). Influence of return on assets, return on equity, current ratio, earnings per share, And debt to equity ratio to price share PT. Unilever Indonesia (Persero) Tbk period 2016-2022. 8 (1). https://doi.org/10.31955/mea.v8i1.3627

Kurniawan, V., Nengsih, TA, & Faturahman. (2023). The effect of the liquidity ratio on the price of sharia-compliant shares of PT Aneka Tambang Tbk listed on the Jakarta Islamic Index (JII) for the 2015-2022 period. Journal of Economics, Business, and Management, 192–213. https://doi.org/10.58192/ebismen.v2i1.669

Mustanwir, Z., & Rosalia, N. (2023). Stock split and its implications for abnormal returns, stock prices, and stock trading volume 2016-2019. Journal of Management and Banking (JUMPA), 10 (1), 1–15. https://doi.org/10.55963/jumpa.v10i1.509

Muyasaroh, S., & Sa'diyah, M. (2023). Analysis factors Which influence price sharia stocks on company infrastructure in Indonesia year 2019-2021. Journal Islamic Economic Recognition, 2 (01), 62–72. https://doi.org/10.34001/jrei.v2i01.478

Noviana, K., & Nurmasari, I. (2024). Influence return on equity and current ratio to the stock price of PT Bank Mandiri (Persero) Tbk for the period 2013-2022. Cakrawala: Journal of Economics, Management and Business, 1 (1), 79–87. https://jurnalamanah.com/index.php/cakrawala/index. https://doi.org/10.70285/kj9qgg11

Nur Azizzah, A., Accountancy, J., Country Bandung, P., & Major Accountancy, K. (2021). The impact of the BI rate and BOPO on NPLs in commercial banks. NPL on commercial banks listed on the BEI from 2010 to 2021. Indonesian Journal of Economics and Management, 1 (3), 642–655. https://doi.org/10.35313/ijem.v1i3.3099

Nurliandini, N., Juniwati, E. H., & Setiawan, S. (2021). Analysis influence factor Fundamental, technical, and macroeconomic factors on stock prices of chemical subsector companies listed on the Sharia Stock Index. Journal of Applied Islamic Economics and Finance, 2 (1), 35–47. https://doi.org/10.35313/jaief.v2i1.2907

Pebrianti, Y. (2021). The effect of profitability and dividend policy on stock prices of the LQ 45 index of the Indonesia Stock Exchange.

Puspita Goddess, H., & Bi Jayanti, F. (2024). Analysis influence EVA (Economic Value Added) and MVA (Market Value Added). Management and Accounting, 5 (1), 1–11. http://jema.unw.ac.id

Putri, GE (2023). Influence of current ratio (CR), return on equity (ROE), earnings per share (EPS), And price earnings ratio (PER) to price share on company food and beverage subsector listed on the Indonesia Stock Exchange for the 2016-2021 period.

Rahayu, TN, & Masud, M. (2019). The effect of interest rates, the rupiah exchange rate, and stock trading volume on the stock prices of manufacturing companies. www.bi.go.id https://doi.org/10.33096/paradoks.v2i2.166

Rika, RJS, Abdurrahman, & Wijaya, T. (2025). The effect of working capital turnover and return on equity on firm value.

Ristiya, R., Suryaningprang, A., Herlinawati, E., Sudaryo, Y., & Supriyadi, D. (2024). The effect of current ratio (CR), debt to equity ratio (DER), earnings per share (EPS), and price earnings ratio (PER) on stock prices . https://doi.org/10.47709/jebma.v4i1.3622

Rivaldo, R., & Malini, H. (2021). Influence economic value added, earnings per share, dividend per share, And volume trading to price share sector trading, service, and investment. Ace│Accounting Research Journal, 1 (2), 107–118. https://journal.feb.unipa.ac.id/index.php/ace

Rusli, S. (2024). The effect of ROA, MVA, and ROE on stock prices in primary consumer goods companies listed on the Indonesia Stock Exchange. http://jurnal.anfa.co.id/index.php/mufakat

Setiawan, I., & Fitrianingsih, SE (2022). The urgency and optimization of the role of the sharia supervisory board. (DPS) in activity market capital sharia in Indonesia. Al-Huquq: Journal of Indonesian Islamic Economic Law, 4 (2), 196–212. https://doi.org/10.19105/alhuquq.v4i2.6388

Sufyati, H., & Rachmawati, AF (2021). Influence of factors fundamental to sharia stock prices in Jakarta Islamic Index sector property And real estate. Journal Management, 16 (1). https://doi.org/10.47313/oikonomia.v16i1.1018

Sugiyono. (2022). Method study quantitative (Mold 3rd). Alphabet.

Wantikari, E., & Septiani, D. (2025). Size company, rotation supply, And Dividend policy: Its effect on profit growth. Journal of Management, 14 (2), 705–712. https://doi.org/10.31959/jm.v14i2.2977

Downloads

Published

2026-08-30

How to Cite

Mulyadi, M., Winarso, W., Hartanti, H., & Widjaja, Y. R. (2026). Influence Factor Fundamental, Volume Trading and Market Value Added to Stock Prices of Technology Sector Companies on IDX Period 2021– 2024. Greenation International Journal of Economics and Accounting, 4(3), 869–879. https://doi.org/10.38035/gijea.v4i3.1178

Issue

Vol. 4 No. 3 (2026): Greenation International Journal of Economics and Accounting (July - August 2026)

Section

Articles

License

Copyright (c) 2026 Mulyadi Mulyadi, Widi Winarso, Hartanti Hartanti, Yani Restiyani Widjaja

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright :

Authors who publish their manuscripts in this journal agree to the following conditions:

  1. Copyright in each article belongs to the author.
  2. The author acknowledges that the GIJEA has the right to be the first to publish under a Creative Commons Attribution 4.0 International license (Attribution 4.0 International CC BY 4.0).
  3. Authors can submit articles separately, arrange the non-exclusive distribution of manuscripts that have been published in this journal to other versions (for example, sent to the author's institutional repository, publication in a book, etc.), by acknowledging that the manuscript has been published for the first time at GIJEA.