Do payout, leverage, and size move stock prices? Panel evidence from LQ45 firms using first differences
Stock prices in emerging markets are shaped by firm fundamentals, capital structure, and payout policy, yet evidence from Indonesia's LQ45 blue-chip index remains inconclusive. This study examines the partial and simultaneous effects of the dividend payout ratio (DPR), the long-term debt to equity ratio (LTDER), and fi...