THE EFFECT OF CR, DER, AND ROE ON STOCK PRICES TRANSPORTATION SUB SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE

: The Effect of CR, DER, and ROE On Stock Prices Transportation Sub Sector Companies Listed On the Indonesia Stock Exchange. This study aims to determine the effect of CR, DER, and ROE on Stock Price. The method used is descriptive statistics with a quantitative approach, namely through the classical assumption test to analyze data and multiple linear regression analysis and data processed using software SPSS 20. The data used is secondary data with the type of quantitative data. The population of this study is companies sub sector transportation listed on Indonesia Stock Exchange period 2015 until 2018 with a sampling method is purposive sampling, so the number of observation is 11 (eleven) companies. Based on results of this study, it is known that the results of testing together (simultaneous) with the statistical test show that the CR, DER, and ROE affect to the Stock Price at transportation sub sector companies on Indonesia Stock Exchange period 2015-2018. Partially, the CR and DER does not affect to the Stock Price. However, ROE affect to the Stock Price regresi linier berganda dan data diolah menggunakan perangkat lunak SPSS 20. Data yang digunakan adalah data sekunder dengan jenis data kuantitatif. Populasi penelitian ini adalah perusahaan transportasi sub sektor yang terdaftar di Bursa Efek Indonesia periode 2015 hingga 2018 dengan metode pengambilan sampel adalah purposive sampling, sehingga jumlah sampel adalah 11 (sebelas) perusahaan. Berdasarkan penelitian ini, diketahui secara (simultan) sektor Bursa Indonesia periode 2015-2018. mempengaruhi


INTRODUCTION
In the era of globalization companies are required to generate large profits in order to be able to compete with other companies. So the company must work hard in optimizing and maintaining its business. One alternative There are several conditions and situations that determine a stock that will experience fluctuations (Fahmi, 2017: 57), including micro and macroeconomic conditions, the company's policy in deciding to expand (business expansion), such as opening a branch office, a good branch office used domestically and abroad. The next is the sudden change of directors, the existence of directors or commissioners of companies involved in criminal acts and cases that have gone to court, company performance continues to decline at any time, systematic risk is a form of risk that occurs as a whole and has participated causing companies to get involved, and the last is the effect of market psychology that was able to suppress the technical conditions of buying and selling stock.
Of the factors that affect stock prices, some can be a factor in the decline in stock prices in one of the transportation subsectors listed on the Indonesia Stock Exchange. If the company has a good performance, it will allow its investors to attract stock. increased stock demand will be able to increase stock prices as well so that it can be an indicator in analyzing the company's financial performance and vice versa.
On average, each company can show stock prices below average and above average. The amount of data that gets results above the average is 20 data from a total of 44 data. And the amount of data that gets results below the average is 24 data from a total of 44 data. This shows that the sample data of stock prices in the transportation subsector company has a low performance.
One decline in stock prices in the transportation subsector companies can also be caused by more and more online transportation companies that have sprung up. In Indonesia, non-online transportation has been used for a long time, but nowadays online transportation that can be easily called via smartphones is growing rapidly. Online transportation is relatively better than nononline transportation. Both in terms of service, convenience and price certainty, which has so far been lacking in non-online transportation.
Decline in stock prices can also be seen from the ratio owned by the company. The first is Current Ratio (CR). According to Kasmir (2015: 134)

Signaling Theory
According to Fauziah (2017:11) Signaling theory is one of the pillar theories in understanding financial management. In general, the signal is interpreted as a signal made by the company to investors. these signals can take the form of various forms, both those that can be directly observed and those that must be examined in more depth in order to find out. The signal delivered can be positive and negative signals.
According to Bringham & Houston (2006: 185) signal theory suggests how a company should give signals to users of financial statements. The signal is one of the actions taken by company management that provides instructions for investors about how management views the company's prospects.
According to Akerlof (1970) based on his research, there is information asymmetry between the seller and the buyer, where the seller has more information than the buyer.
To avoid adverse selection, sellers of quality goods provide signals regarding information on the quality of goods being sold so that buyers can access them.
According to Spence (1973) in his research states that by providing a signal, management tries to provide relevant information that can be used by investors.
Then, the investor will adjust his decision according to his understanding of the signal.

Stock
According to Djoni & Elizabeth (2019) in her journal, stocks are one indicator of company management. Success in increasing profits will provide satisfaction for rational investors. (2011) in journal Kundiman & Hakim (2016), stocks are an investment instrument that many investors choose because shares are able to provide attractive returns.

According to Martalena & Maya
According to Salim (2010: 5), stocks are a form of capital participation in a company.
when owning shares of a company, we can say we own the company by a certain percentage according to the number of shares owned.
According to Fahmi (2017: 184), a stock is a proof that is given as an ownership of capital or funds in a company, or a paper that is clearly listed in nominal value, the name of the company and followed by the rights and obligations described to each holder.

Types of Stocks
In the capital market there are two types of stocks that are most commonly known by the public, namely common stock and preferred stock. Each share has its own meaning and regulations (Fahmi, 2017: 54):

Common Stock
Common stock is a securities sold by a company that explains the nominal value (rupiah, dollar, yen and so on) where the holder is given the right to attend the GMS (General Meeting of Shareholders) and

EGMS (Extraordinary General Meeting of
Shareholders) and is entitled to determine whether to buy a rights issue (sale of ordinary shares) or not, which in the end of the year will benefit in the form of dividends.

Preferred Stock
Preferred stock is a securities sold by a company that explains the nominal value (rupiah, dollar, yen and so on) where the shareholders will get fixed income in the form of dividends that will be received every quarter (three months).

Financial Ratio Analysis
According to Fahmi (2017:107), the ratio is referred to as the ratio of the number, from one amount to another, it is seen that the comparison with the hope that later will be found answers which will then be used as study material to be analyzed and decided.

Benefits of Financial Ratio Analysis
Besides having a very important role before making investments, financial ratio analysis also has several benefits including (Fahmi, 2017:  In this study the ratio used to measure the company's stock price is the liquidity ratio (CR), the ratio of solvency or leverage (DER) and the profitability ratio (ROE). The following is an explanation of these ratios:

Current Ratio
According to Kasmir (2015: 134), Current Ratio is a ratio to measure a company's ability to pay short-term obligations or debt that will mature when it is billed as a whole.
According to Fahmi (2017: 121), current ratio is a measure commonly used for short-term solutions, the ability of a company to meet debt needs when due.
According to Sugiono & Untung (2016: 58), the Current ratio is used to determine the extent to which the company's current assets are used to pay off current liabilities (liabilities) that will be due or paid immediately.
The formula for finding the current ratio can be used as follows. According to Rangkuti (2011: 184), Debt to equity ratio is a comparison between total liabilities (total debt) with total own capital (equity). This ratio shows the extent to which equity capital guarantees all debt. This ratio can also be read as a comparison between outside parties and company owner funds entered into the company.
The formula to find the debt to equity ratio can be used as a comparison between total debt and total equity as follows.

Return On Equity
According to Kasmir (2015: 204), Return on equity is a ratio to measure net income after tax with own capital. This ratio shows the efficiency of using their own capital. The higher this ratio, the better. This means that the position of the owner of the company is getting stronger, and vice versa.
According to Fahmi (2017: 137), return on equity examines the extent to which a company uses its resources to be able to provide a return on equity.
According to Ikatan Bankir Indonesia (2015: 65), return on equity provides an illustration of how efficient a company is in using equity to generate profits.
The formula for finding return on equity can be used as follows.

Stock Prices (Y)
Liquidity ratio is a ratio that measures the value of a company's ability to meet its shortterm obligations according to a predetermined due date. In this study the ratio used is the current ratio, arguing that the current ratio can show the company's ability to meet its short-term debt. The higher the level of the current ratio will have a positive impact on the company because it will attract investors to invest in the company, by attracting a lot of investor interest, it will also have a good impact on stock prices. The stock price of the company will increase according to the number of investors who invest their capital. Vice versa if the company has a low value on the current ratio it will have a negative impact on the company, this is because current assets are not able to cover the company's debt. With a low current ratio value, it will not attract investors to invest their capital. Based on this description it can be concluded that the current ratio has a positive effect on stock prices.

The Effect of Debt to Equity Ratio (X2) to Stock Prices (Y)
Leverage ratio is a ratio that measures how much the company's assets are financed by debt, if the company's debt is greater than the assets it will have a negative impact on the company. In this study, the variable used is the debt to equity ratio, arguing that the debt to equity ratio can be known how much the company is financed by debt, then how much the company's burden can meet the debt provided by creditors. If the company's operations are largely costed by debt, it will have a negative impact, because profits earned by the company will be prioritized to pay the company's obligations first. Large debt will be a burden on the company and in terms of investment will reduce the interest of investors to invest their capital. Declining investor interest will have an impact on the company's stock price.

Stock Prices (Y)
Profitability ratio is a ratio that measures

Type of Research
This sudy uses a descriptive verification research type with a quantitative approach that is associated with problems that exist in the object of research regarding the effect of public accounting firm reputation, audit opinion and auditor switching on audit delay.

Place and Time Research
The data source used in this study is secondary data, which is gathered by a secondary party. The data used was obtained through the internet site www.idx.co.id and www.sahamok.com. This research was conducted in February 2020 until July 2020.

Research Subject
Population is a generalization area consisting of: objects / subjects that have certain quantities and characteristics determined by researchers to be studied and then drawn conclusions (Sugiyono, 2013: 148

Data Analysis Technique
The analysis technique in this research is multiple linear regression analysis, partially test (t test), simultaneously test (F test), and determinant coefficient test (R 2 ).

Descriptive Statistic Analysis
This research the sample used is the transportation subsector companies listed on the Indonesia Stock Exchange with the total sample is 11 (eleven) companies.

Normality test results after outlier
Based on the test results above, obtained a residual value of 0.132 so that 0.132> 0.05 so that it can be said that the data used in the study were normally distributed

Heteroscedasticity Test
Based on the test results on figure 2 obtained images that have points that have unclear patterns and these points are below and above the number 0, it can be concluded that the multiple linear regression analysis in this study is free from symptoms of heteroscedasticity.

Autocorrelation Test
Based on the above test, a D-W value of 0.902 is obtained (see table 5). This means that the D-W value of 0.902 is still between -2 and +2. Thus it can be concluded that the regression analysis in this study is free from autocorrelation symptoms.  Partially Test (t test)    Period. This ratio is seen more from the point of view of the company's profitability. good profit makes investors give consideration to placing their funds in a company so that it will also affect the stock price. 4. For the public, with the results of this study it is expected that the public will participate more in the capital market.

Conclusion
This was done so that the capital market in Indonesia could continue to grow and be able to compete with other countries.