Profitability, Dividend Policy, and Energy-Sector Stock Prices: The moderating Role of Firm Size in Indonesia, 2020-2024
DOI:
https://doi.org/10.59890/ijmbi.v4i4.36Keywords:
Profitability, Dividend Policy, Stock Price, Energy SectorAbstract
This study examines the effect of profitability and dividend policy on stock prices, with energy businesses listed on the Indonesia Stock Exchange between 2020 and 2024 using firm size as a moderating variable. Profitability is measured using Return on Equity (ROE), while dividend policy is shown by the Dividend Payout Ratio (DPR). The natural logarithm of total assets is used to calculate firm size. This study uses a quantitative methodology and secondary data from energy firms' annual financial reports that were chosen via purposive sampling. Moderated Regression Analysis (MRA) with panel data regression are applied to test the proposed hypotheses. The results show that dividend policy and profitability influence stock prices, while The association between the independent factors and stock prices is moderated by business size. These findings give business managers and investors useful guidance when making financial policy and investment decisions, particularly within Indonesia’s energy sector.
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