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Elfreda Alponia Lau
Universitas 17 Agustus 1945 Samarinda
Economics, Econometrics & Finance

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Pengaruh Asimetri Informasi, Likuiditas Saham, dan Ukuran Perusahaan terhadap Volatilitas Harga Saham pada Perusahaan Sektor Keuangan yang terdaftar di Bursa Efek Indonesia Tahun 2020 – 2024 Elfreda Alponia Lau; Rina Masithoh Haryadi; Muhammad Yusuf
Jurnal Riset Akuntansi Vol. 4 No. 4 (2026): November: Jurnal Riset Akuntansi
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jura-itb.v4i4.4524

Abstract

This study aims to analyze the effect of information asymmetry, stock liquidity, and firm size on stock price volatility in financial sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. Stock price volatility reflects investment risk and uncertainty faced by investors; therefore, examining its determinants is essential, particularly in the financial sector, which plays a strategic role in maintaining financial system stability. This research employs a quantitative approach using multiple linear regression analysis. The sample was selected through purposive sampling, resulting in 8 banking subsector companies with a total of 40 observations. Information asymmetry is measured using the bid-ask spread, stock liquidity is proxied by the turnover ratio, firm size is measured by the natural logarithm of total assets, and stock price volatility is calculated using the annualized standard deviation of monthly returns. Data analysis was conducted through classical assumption tests, partial tests, simultaneous tests, and the coefficient of determination. The results indicate that information asymmetry and stock liquidity significantly affect stock price volatility, while firm size does not have a significant effect. Simultaneously, information asymmetry, stock liquidity, and firm size influence stock price volatility. These findings highlight the importance of information transparency and effective trading activity management in controlling stock price fluctuations in the capital market.
Dampak Kebijakan Moneter terhadap Kinerja Pasar Modal di Indonesia Elfreda Alponia Lau; Rina Masithoh Hariyadi; Isnawati Isnawati
Jurnal Riset Akuntansi Vol. 4 No. 4 (2026): November: Jurnal Riset Akuntansi
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jura-itb.v4i4.4525

Abstract

The capital market plays an important role in the Indonesian economy as a source of long-term financing and an indicator of economic conditions. Capital market performance is reflected in the Jakarta Composite Index (JCI), which represents the price movements of all stocks listed on the Indonesia Stock Exchange. Based on monetary policy and capital market theory, changes in benchmark interest rates, the money supply, and inflation can influence market liquidity, investment costs, and investor behavior. This study aims to analyze the effects of benchmark interest rates, the money supply (M2), and inflation on capital market performance in Indonesia. The study uses secondary semi-annual data on the benchmark interest rate (BI Rate/BI 7-Day Reverse Repo Rate), the money supply (M2), inflation, and the JCI for the 2009–2024 period. Multiple linear regression is employed as the analytical method. The results show that the benchmark interest rate has a negative and significant effect on capital market performance, while the money supply (M2) has a positive and significant effect. Inflation has a negative but insignificant effect on capital market performance. Simultaneously, all three variables significantly affect capital market performance. These findings imply that maintaining stable monetary policy, particularly in managing interest rates and liquidity, is important to support capital market stability and encourage investment activities in Indonesia.
Pengaruh Profitability dan Firm Size terhadap Firm Value pada Perushaan Sub Sektor Perbankan yang terdaftar di BEI Periode 2022-2024 Elfreda Alponia Lau; Astrid Napita Sitorus; Al Muqaddim
Jurnal Riset Akuntansi Vol. 4 No. 4 (2026): November: Jurnal Riset Akuntansi
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jura-itb.v4i4.4526

Abstract

Firm value is an important indicator used by investors to assess a company’s ability to create shareholder wealth. Firm value is influenced by fundamental factors, including profitability and company size, which reflect the company’s ability to generate profits, manage risks, and optimize assets. This study aims to examine and analyze the effect of profitability and firm size on firm value, both partially and simultaneously. The research was conducted on banking subsector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Data were collected through library research, with a sample consisting of 51 observations. The analytical method used was multiple linear regression analysis. The results indicate that profitability has a significant effect on firm value. Profitability, measured by Return on Assets (ROA), serves as an important indicator for investors in evaluating banking performance because higher profitability reflects the company’s ability to generate stable and sustainable returns. Firm size also has a significant effect on firm value, although large asset ownership does not always guarantee improved market performance. Simultaneously, profitability and firm size significantly influence firm value. These findings indicate that investors consider not only profit generation but also the company’s capacity to maintain business sustainability and manage resources effectively, which ultimately strengthens market confidence and increases firm value.
Co-Authors Al Muqaddim Astrid Napita Sitorus Isnawati Isnawati Muhammad Yusuf Rina Masithoh Hariyadi Rina Masithoh Haryadi