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Journal : e-Jurnal Apresiasi Ekonomi

APAKAH MANAJER MEMPERHATIKAN PASAR? PERUBAHAN DIVIDEN DAN INFORMASI HARGA SAHAM DI INDONESIA Laynita Sari; Irdha Yusra; Maizul Rahmizal
Jurnal Apresiasi Ekonomi Vol 10, No 3 (2022)
Publisher : Institut Teknologi dan Ilmu Sosial Khatulistiwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (232.553 KB) | DOI: 10.31846/jae.v10i3.485

Abstract

ABSTRAKBeberapa informasi mengungkapkan bahwa ternyata penyebab dari perubahan dividen dipengaruhi oleh harga saham. Keyakinan umum dalam banyak literatur keuangan adalah bahwa orang dalam memiliki informasi perusahaan yang lebih lengkap daripada orang luar. Ketika berbicara tentang kebijakan dividen, pada dasarnya kita mengabaikan peran informasi private yang disampaikan oleh harga saham, padahal dapat berperan sebagai penentu dividen tunai. Tujuan utama dalam penelitian ini adalah untuk menyelidiki peran informasi harga saham dalam mempengaruhi perubahan dividen pada perusahaan yang terdaftar di Bursa Efek Indonesia. Alat analisis yang digunakan untuk menguji pengaruh antar variabel panelitian adalah analisis regresi data panel. Penelitian ini menemukan bahwa likuiditas tidak memberikan bukti secara empiris adanya pengaruh informasi harga saham terhadap perubahan dividen  perusahaan yang terdaftar di Bursa Efek Indonesia tahun 2016-2020. Temuan empiris lainnya adalah informasi privat tidak memoderasi pengaruh harga saham terhadap perubahan dividen. Dalam hal ini, informasi private tidak memiliki kontribusi pada pengaruh harga saham terhadap perubahan dividen.Kata Kunci: Dividen, harga saham, informasi privat ABSTRACTSome information reveals that the cause of dividend changes is influenced by stock prices. A common belief in much of the financial literature is that insiders have more complete company information than outsiders. When talking about dividend policy, we basically ignore the role of private information conveyed by stock prices, even though it can play a role as a determinant of cash dividends. The main objective of this study is to investigate the role of stock price information in influencing dividend changes in companies listed on the Indonesia Stock Exchange. The analytical tool used to test the effect between the research variables in panel data regression analysis. This study finds that liquidity does not provide empirical evidence of the effect of stock price information on changes in dividends of companies listed on the Indonesia Stock Exchange in 2016-2020. Another empirical finding is that private information does not moderate the effect of stock prices on dividend changes. In this case, private information has no contribution to the effect of stock prices on dividend changes.Keywords: Stock Price, Private Information, Dividend Change
SISI GELAP DARI RETURN SAHAM DI PASAR MODAL INDONESIA: LIKUIDITAS, DAN RISIKO SISTEMATIS Laynita Sari; Rio Nardo
Jurnal Apresiasi Ekonomi Vol 10, No 1 (2022)
Publisher : Institut Teknologi dan Ilmu Sosial Khatulistiwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (262.304 KB) | DOI: 10.31846/jae.v10i1.401

Abstract

The COVID-19 outbreak has had a serious impact on investment activities in Indonesia. One of the aspects of concern in the midst of the coronavirus outbreak is the decrease in investor interest in capital market activities in Indonesia. Therefore, it can be predicted that there is a potential decrease in the level of profit (return) that will be received by shareholders. The purpose of this study is to investigate the influence of liquidity and systematic risks on returns. The analysis tool used to test the influence between panel variables is the analysis of panel data regression. The findings of this study are that liquidation has no significant effect on the return of company shares. In addition, the second finding proves that systematic risk has a positive and significant effect on the return of the company's shares. Our findings are reinforced by the results of robustness test statistically, which confirms that companies that have a high beta value, then the return of the company's shares will tend to be high.
PERISTIWA EKTREM DARI PROFITABILITAS, LEVERAGE, DAN IMPLIKASINYA TERHADAP RETURN SAHAM Rio Nardo; Laynita Sari
Jurnal Apresiasi Ekonomi Vol 9, No 3 (2021)
Publisher : Institut Teknologi dan Ilmu Sosial Khatulistiwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (251.556 KB) | DOI: 10.31846/jae.v9i3.400

Abstract

The economic crisis caused by the COVID-19 pandemic is more severe than the 1998 crisis. A very serious threat is the decline in the value of the investment in Indonesia. This decrease will have a direct impact on the company's financial performance and indirectly also result in the distribution of financial levels (returns) to shareholders. This research aims to test the effect of profitability and leverage on stock returns. The estimation method used in this study is the regression of panel data. The results showed that profitability has a positive and significant effect on the return of shares in companies listed on the Indonesia Stock Exchange. However, empirically there was no leverage influence on the return stock