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All Journal JURNAL ECONOMIA JOURNAL OF BUSINESS AND ECONOMICS RESEARCH (JBE)
Hidayah, Nuri Lesmono
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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The Effect of Change in Stock Ownership Because of Stock Split on Stock Liquidity Hidayah, Nuri Lesmono; Noordin, Harits
Jurnal Economia Vol 14, No 1: April 2018
Publisher : Faculty of Economics Universitas Negeri Yogyakarta in collaboration with the Institute for

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (894.531 KB) | DOI: 10.21831/economia.v14i1.16226

Abstract

Abstract: The Effect of Change in Stock Ownership Because of Stock Split on Stock Liquidity. This study aimed to determine the effect of the stock split on stock trading by considering stock ownership proportion in companies listed in the Indonesian Stock Exchange (IDX). This study hypotesized that stock ownership proportion and its change in later date affected stock liquidity. The population of this study was companies in the Indonesia Stock Exchange. The samples were 48 companies which conducted stock split in 2010-2015. The sample was selected by purposive sampling method. Hypotesis was tested by using paired sampelled t-test and regression analysis. The study found that stock split indeed affected stock trading. Stock split significantly affected Cumulative Abnormal Return (CAR) and trading activity, compared to data before stock split occurred. However, the studi also found that stock ownership proportion and its changes in later date did not affect stock liquidity. Keywords: stock split, liquidity, public shareholderAbstrak: Pengaruh Perubahan Komposisi Kepemilikan Saham Sebagai Akibat Stock Split terhadap Likuiditas Saham. Penelitian ini bertujuan untuk mengetahui dampak pemecahan saham terhadap perdagangan saham di Bursa Efek Indonesia (BEI) dengan memperhatikan komposisi kepemilikan saham. Komposisi kepemilikan saham publik dan perubahannya dalam kegiatan stock split diduga memiliki pengaruh terhadap likuiditas saham. Populasi penelitian ini adalah seluruh perusahaan di Bursa Efek Indonesia. Sampel penelitian sebanyak 48 perusahaan yang melakukan stock split pada periode 2010 – 2015. Pemilihan sampel menggunakan metode purposive sampling. Metode pengujian hipotesis menggunakan metode paired sampled t test dan analisis regresi. Hasil penelitian ini menunjukkan bahwa peristiwa stock split memberikan dampak terhadap perdagangan saham. Stock split menyebabkan terjadinya perbedaan yang signifikan dari cumulative abnormal return (CAR) dan rata-rata trading volume activity sebelum pemecahan saham dibandingkan setelah pemecahan saham. Berkenaan dengan komposisi saham publik dan perubahannya dalam peristiwa stock split ternyata tidak berpengaruh terhadap likuiditas perdagangan saham. Kata kunci: pemecahan saham, likuiditas, kepemilikan publik
Pengaruh Profitabilitas, Leverage, dan Good Corporate Governance terhadap Nilai Perusahaan dengan Kebijakan Dividen sebagai Pemoderasi Sanusi, Anwar; Alteza, Muniya; Hidayah, Nuri Lesmono
Journal of Business and Economics Research (JBE) Vol 6 No 3 (2025): October 2025
Publisher : Forum Kerjasama Pendidikan Tinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/jbe.v6i3.6393

Abstract

This research examines the determinants of firm value: profitability, leverage, and corporate governance. In addition, the research examines dividend policy as a moderating factor in the determinants of firm value. The research was conducted on food and beverage companies listed on the Indonesia Stock Exchange during 2018-2022. The approach used is quantitative with an associative causality method. Sample collection was done using a purposive sampling method, resulting in 19 companies. The data obtained is unbalanced panel data with a total of 91 observations. Data analysis uses moderated regression analysis techniques. The research results prove that partially profitability, leverage, and corporate governance each have a positive and significant influence on firm value. Dividend policy moderates the influence of profitability, leverage, and corporate governance on firm value. Simultaneous testing shows that there is a goodness of fit of the model to explain the firm value.
Co-Authors Muniya Alteza Noordin, Harits sanusi, Anwar