PENGARUH LIKUIDIAS DAN PROFITABILITAS TERHADAP HARGA SAHAM MELALUI PRICE TO BOOK VALUE SEBAGAI PEMODERASI

This study aims to prove and analyze the direct and indirect effect of liquidity and profitability on stock prices through Price to Book Value as moderating. This research was conducted on manufacturing companies in the goods and consumption sub-sector on the Indonesia Stock Exchange. The research period is from 2016 to 2020. The analysis method is carried out using a moderating regression analysis. Based on the results of hypothesis testing in the first sub-structure, it was found that liquidity and profitability had a direct effect on the price to book value of manufacturing companies in the goods and consumption sub-sector, while in the second sub-structure model it was found that liquidity had no significant effect on stock prices, while profitability had a significant effect on stock prices of manufacturing companies. goods and consumption sub-sector. In the indirect effect testing stage, it was found that price to book value did not moderate the effect of liquidity on stock prices, while price to book value strengthened the influence formed between profitability on stock prices in manufacturing companies in the goods and consumption sub-sector on the Indonesia Stock Exchange