The Effect of Price to Book Value, Inflation Rate, and Us Dollar Exchange Rate on Stock Prices (A Case Study of Five Manufacturing Companies Listed on the Indonesia Stock Exchange for the Period 2014–2025)

Dian Wahyu Saputra; Nur Salma; Rina Loliyana

doi:10.63922/ijebir.v5i06.6846

Dian Wahyu Saputra Program Studi Manajemen, Universitas Mitra Indonesia Bandar Lampung
Nur Salma Program Studi Manajemen, Universitas Mitra Indonesia Bandar Lampung
Rina Loliyana Program Studi Manajemen, Universitas Mitra Indonesia Bandar Lampung

DOI: https://doi.org/10.63922/ijebir.v5i06.6846

Keywords: Inflation Rate, Price to Book Value, Stock Price, US Dollar Exchange Rate

Abstract

This study aims to examine the effect of Price to Book Value (PBV), inflation rate, and the US dollar exchange rate on stock prices of five manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2014–2025. This research employed a quantitative method with an associative approach. The sample was selected using purposive sampling, resulting in five manufacturing companies. Secondary data were obtained from company annual reports, Statistics Indonesia (BPS), Bank Indonesia (BI), and the Indonesia Stock Exchange (IDX). The data were analyzed using multiple linear regression with SPSS version 26. The results indicate that Price to Book Value (PBV) has no significant effect on stock prices. The inflation rate has a positive and significant effect on stock prices, while the US dollar exchange rate has a negative and significant effect on stock prices. Simultaneously, the three independent variables significantly affect stock prices, with an Adjusted R Square of 0.558, indicating that 55.8% of the variation in stock prices is explained by the model, while the remaining 44.2% is explained by other variables outside this study.

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