THE ROLE OF IT-BASED ACCOUNTING SYSTEMS IN PREDICTING COMPANY STOCK PRICE : EVIDENCE FROM LQ45 INDEX COMPANIES
DOI:
https://doi.org/10.29082/my6x3j06Keywords:
Information Technology, EPS, PBV and Stock ReturnAbstract
This study aims to determine the extent to which accounting information and the adoption of Information Technology (IT) influence the stock prices of LQ 45 Index listed on the Indonesia Stock Exchange (IDX) between 2021 and 2024. The population in this study consists of all financial institutions listed on the IDX during the aforementioned period. A purposive sampling method was employed and resulted in a sample of 45 companies. The study incorporates key accounting indicators such as Earnings Per Share (EPS) and Price to Book Value (PBV), along with an additional IT variable. The findings reveal that IT has a significant positive effect on stock prices, as indicated by a high t-value and a statistically significant p-value. PBV also shows a significant influence, suggesting that companies with stronger market valuations relative to their book value tend to experience higher stock prices. In contrast, EPS does not exhibit a statistically significant impact on stock prices within the scope of this study. These results highlight the strategic role of IT adoption and market-based financial ratios, such as PBV, in shaping investor perceptions and influencing stock price behavior in the context of Indonesia’s capital market.
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