PENGARUH STRUKTUR MODAL DAN PERPUTARAN MODAL KERJA TERHADAP HARGA SAHAM DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING

This study aims to determine the effect of capital structure on profitability, the effect of working capital turnover on profitability, the effect of profitability on stock prices, the effect of capital structure on stock prices, working capital turnover on stock prices, the effect of capital structure on stock prices through profitability as an intervening variable, the effect of working capital turnover on stock prices through profitability as an intervening variable. The research method used is quantitative. The research locations selected in this study are manufacturing companies in the various industrial sectors listed on the Indonesia Stock Exchange. This research was conducted in August-September 2021. The results showed: (1) there is a positive effect of capital structure on profitability, (2) there is a positive effect of working capital turnover on profitability, (3) there is a negative effect of profitability on stock prices, (4) there is a negative effect of capital structure on stock prices, (5) there is a negative effect of working capital turnover on stock prices, (6) indirectly there is a negative effect of capital structure on stock prices through profitability as an intervening variable, (7) there is a direct negative effect of working capital turnover on stock prices through profitability as intervention variable