Company Sustainability through Increasing Share Prices in Cement Sub-Sector Companies in Indonesia

Linna Ismawati () and Luqman Ashabil Tresna
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Linna Ismawati: Universitas Komputer Indonesia, Department of Management, Faculty of Economic and Business
Luqman Ashabil Tresna: Universitas Komputer Indonesia, Department of Management, Faculty of Economic and Business

A chapter in Proceedings of the 8th International Conference on Business, Economics, Social Sciences, and Humanities - Economics, Business and Management Track (ICOBEST-EBM 2025), 2025, pp 247-256 from Springer

Abstract: Abstract This study intends to ascertain the development of each variable in cement Sub-sector businesses listed on the IDX for the period 2019–2023, as well as the partial and simultaneous effects of capital gains, dividend policy, and capital structure on stock prices. Descriptive and verification methods with a quantitative approach are the research methods employed. Secondary data, such as information on stock price, capital gains, dividend policy, and capital structure, is employed. Purposive sampling is a sampling methodology. Six businesses in the cement subsector for the years 2019–2023 were selected as the research sample based on preexisting considerations and criteria. The t test and F test are used for hypothesis testing, and path analysis, correlation coefficient analysis, and coefficient of determination analysis are the analysis designs employed. According to the study’s findings, capital structure significantly boosts stock prices, dividend policy significantly boosts capital structure, and dividend policy significantly boosts capital gains. Additionally, dividend policy has a negative and negligible impact on stock prices, while capital gains have a negative and negligible impact on stock prices. In addition to dividend policy, stock prices are positively and marginally impacted by capital gains and capital structure.

Keywords: Dividend Policy; Capital Gain; Capital Structure and Share Price (search for similar items in EconPapers)
Date: 2025
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DOI: 10.2991/978-94-6463-795-3_21

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