Pengaruh Siklus Bisnis, Price to Earnings Ratio, dan Debt to Equity Ratio terhadap Reaksi Pasar pada perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2018-2021

Abstract

This research aims to ascertain the impact of the Price to Earnings Ratio, Debt to Equity Ratio, and Business Cycle on Market Reaction for mining firms listed between 2018 and 2021 on the Indonesia Stock Exchange (IDX). Purposive sampling was used in this research to choose the sample, which consists of 39 of the 52 infrastructure businesses that were listed between 2018 and 2021 on the Indonesia Stock Exchange. The data analysis methods employed in this research include multiple linear regression analysis, classical assumption testing, descriptive statistical analysis, hypothesis testing via coefficient of determination testing, t statistical test, and F statistical test using the SPSS software. The study's findings suggest that the price to earnings ratio and business cycle both partly influence market behavior in a favorable way. In the meanwhile, the market's response is negatively impacted by the debt to equity ratio. Additional findings from this research demonstrate that every independent variable included in the analysis significantly influenced the market response for mining businesses listed between 2018 and 2021 on the Indonesia Stock Exchange.