Sarcouncil Journal of Economics and Business Management

Abstract: The aims of this study are to identify and analyze the influence of fundamental variables of firms and non-fundamental on stock price in Bursa Efek Jakarta (BEJ). Fundamental variables of this study consist of Return On Asset (ROA). Earning Per Share (EPS), and Net Asset Value (NAV), and the non-fundamental variables of this study consist of deposit interest rate, inflation, and exchange rate. The research studies the behaviour of 20 emitens from 45 emitens which are registered as the member of LQ 45 that is chosen by purposive sampling technic. Those emitens have the biggest market capitalization, and have been consistent since the beginning of 2000 until the middle of 2002. The estimation method is econometrica panel data, used fixed effect accounting technik with generelized least square (GLS) approach. The result from this research, indicates that variables which have significant influences on the stock price are ROA, EPS, NAV, deposit interest rate and inflation, and variable which have not significant influences on the stock price are exchange rate. ROA, EPS, NAV, deposit interest rate, inflation, and exchange rate have a big influence to the stock price Gudang Garam firms, but not to influences to the stock price Bimantara firms. This study provides valuable insights into the factors influencing stock prices of selected companies in the LQ 45 index. The findings highlight the importance of financial performance indicators such as ROA and EPS, as well as macroeconomic factors like deposit interest rates and inflation, in determining stock prices.