ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI HARGA SAHAM DENGAN INFLASI SEBAGAI VARIABEL MODERASI (STUDI EMPIRIS PADA PERUSAHAAN SEKTOR ENERGI YANG TERDAFTAR DI BEI PERIODE TAHUN 2018- 2023)

The energy sector has an important role in the global economy, economic recovery and sustainability. A country's economic development will have direct implications for increasing energy demand. Share price is an important benchmark for assessing company performance, so it is a key factor that investors need to consider when deciding to start investing. The increase in shareholder wealth as investors is reflected in the increase in share prices with factors that can influence it. For empirical studies on energy sector businesses listed on the BEI for the 2018–2023 timeframe, the aim of this research is to ascertain the impact of Return on assets (ROA), Debt to Equity Ratio (DER), and Firm size on Stock Prices with Inflation as a moderating variable. This study's methodology takes a quantitative approach. Purposive sampling was the method employed to acquire a sample of 54 organizations based on the criteria that were applied. The panel data utilized in this study was acquired by means of yearly financial statements. Using t tests, multiple linear regression analysis, classical assumption tests, descriptive statistical tests, and coefficients of determination (R2), data analysis and hypothesis testing are conducted. To determine the effect of inflation as a moderation variable between ROA, DER, Firm size and inflation using the Moderated Regression Analysis (MRA) test.

Keywords: Return on assets (ROA), Debt to Equity Ratio (DER), Firm Size, Stock price, Inflation.