Impact of Quarterly Earnings Announcements and Liquidity on Stock Movements in (IDX)

Sinta Porwati, Beby Hilda Agustin, Agus Athori, Dewi Wungkus Antasari

Abstract


This study examines the influence of quarterly earnings announcements and liquidity levels on stock price fluctuations of companies listed on the Indonesia Stock Exchange (IDX). The independent variables are quarterly earnings and liquidity, while the dependent variable is stock price movement. The research uses secondary data in the form of quarterly financial reports and stock price information. The analytical methods applied include the normality test, t-test, and F-test to evaluate the significance of each variable. The results show that quarterly earnings generally do not have a significant effect on stock price changes, as indicated by t and F values that fall below the critical values. Thus, the hypothesis regarding earnings influence is rejected. In contrast, liquidity demonstrates more consistent significance, with statistical test values exceeding critical values in several quarters. This indicates that liquidity has a stronger impact on stock movement. These findings highlight that investors tend to prioritize a company’s liquidity condition in making investment decisions.



Keywords


Indonesia Stock Exchange, Liquidity, Quarterly Earnings, Stock Movement

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DOI: https://doi.org/10.17509/jrak.v13i3.91320

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