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All Journal Gadjah Mada International Journal of Business Benefit: Jurnal Manajemen dan Bisnis MABIS: Manajemen dan Bisnis MBIA Jurnal Pendidikan dan Kebudayaan
Lukas Purwoto
University-Level Instructor of Management Study Program at Sanata Dharma University, Yogyakarta
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Social Sciences Other

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The Impact of the Tick Size Reduction on Liquidity: Empirical Evidence from the Jakarta Stock Exchange Purwoto, Lukas; Tandelilin, Eduardus
Gadjah Mada International Journal of Business Vol 6, No 2 (2004): May-August
Publisher : Master of Management, Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (673.036 KB)

Abstract

On July 3, 2000, the Jakarta Stock Exchange (JSX) reduced its tick size from Rp25.00 to Rp5.00. This study examines the impact of the tick size reduction on the JSX bid-ask spread, market depth, and trading activity. Using daily data, this study finds that the rupiah spread, percentage spread, and depth decreased significantly. All of these findings are not surprising since they are consistent with previous studies conducted in several different markets.In contrast to previous studies, this study finds that the key variable in determining the difference in performance of JSX stocks following the tick size reduction is the price of the stock. Specifically, all the trading activity measures e.g. in the number of trades, share volume, and rupiah volume, increased for low-priced stocks. Conversely, trading activity decreased for high-priced stocks. The possible explanation is that absolute tick size Rp5.00 is too small in economic terms for JSX high-priced stocks, so those decrease the investors’ willingness to trade.
MENGGABUNGKAN COMPETING VALUES FRAMEWORK DAN KETERBUKAAN INFORMASI PERUSAHAAN UNTUK MENILAI KEEFEKTIFAN ORGANISASIONAL Purwoto, Lukas
Benefit Volume 10 No 1 Juni 2006
Publisher : Universitas Muhammadiyah Surakarta

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Abstract

The issue of organizational effectiveness has been one of the most important research subjects sincethe early development of organizational theory. One model widely known in the study of organizationaleffectiveness is competing values framework. Besides that, it is also known that annual report providesinformation to the stakeholders. In order to evaluate organizational effectiveness, this paper discussesthat corporate disclosure could serve as data source to measure many criteria of competing values framework. Apparently, this corporate disclosure based competing values framework is appropriatefor both of the early and the end of organization life cycle. The quantity and quality of disclosures also determine the success of its implementation
KERUMUNAN HARGA SAHAM PADA MULTIFRAKSI Purwoto, Lukas
Benefit Volume 13 No 1 Juni 2009
Publisher : Universitas Muhammadiyah Surakarta

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Abstract

Price clustering is the tendency of prices to be observed more often at some numbers than others. This study documents the existence and persistence of stock price clustering on the Jakarta Stock Exchange.Over the period from 2001 to 2004, daily closing stock prices are found to cluster at 00 followed by 50. Significant clustering within each different thick sizes is found in transaction prices as well as in order prices and remarkably persistent through all trading days. Moreover, stock price clustering is found to increase with volatility, and decrease with transaction frequency.
KERUMUNAN HARGA SAHAM PADA MULTIFRAKSI Purwoto, Lukas
Benefit: Jurnal Manajemen dan Bisnis Benefit : Kumpulan Makalah Diskusi Dosen FE UMS Volume 13 No 1 Juni 2009
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/benefit.v13i1.1300

Abstract

Price clustering is the tendency of prices to be observed more often at some numbers than others. This study documents the existence and persistence of stock price clustering on the Jakarta Stock Exchange.Over the period from 2001 to 2004, daily closing stock prices are found to cluster at 00 followed by 50. Significant clustering within each different thick sizes is found in transaction prices as well as in order prices and remarkably persistent through all trading days. Moreover, stock price clustering is found to increase with volatility, and decrease with transaction frequency.
MENGGABUNGKAN COMPETING VALUES FRAMEWORK DAN KETERBUKAAN INFORMASI PERUSAHAAN UNTUK MENILAI KEEFEKTIFAN ORGANISASIONAL Purwoto, Lukas
Benefit: Jurnal Manajemen dan Bisnis Benefit : Kumpulan Makalah Diskusi Dosen FE UMS Volume 10 No 1 Juni 2006
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/benefit.v10i1.1227

Abstract

The issue of organizational effectiveness has been one of the most important research subjects sincethe early development of organizational theory. One model widely known in the study of organizationaleffectiveness is competing values framework. Besides that, it is also known that annual report providesinformation to the stakeholders. In order to evaluate organizational effectiveness, this paper discussesthat corporate disclosure could serve as data source to measure many criteria of competing values framework. Apparently, this corporate disclosure based competing values framework is appropriatefor both of the early and the end of organization life cycle. The quantity and quality of disclosures also determine the success of its implementation
OPAQUE FINANCIAL REPORTS AND STOCK PRICE CRASH RISK IN INDONESIA Purwoto, Lukas; Tandelilin, Eduardus
Journal of Management and Business Vol 13, No 1 (2014): MARCH 2014
Publisher : Department of Management - Faculty of Business and Economics. Universitas Surabaya.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (103.748 KB) | DOI: 10.24123/jmb.v13i1.237

Abstract

Stock price crash risk is explained in perspective of corporate governance which refers to the lack of information disclosure. This research investigates the effects of opaque financial reports on stock price crash risk of Indonesia-listed firms from 2005 to 2008.The results show that the degree of crash risk is high. Analyses of binary outcome models, which are controlled by company characteristics, show that crash risk is higher in firms with more opaque financial reports. These results of analysis validate the findings of Hutton et al. (2009) so consistent that insiders or managers hide bad news or negative information when submitting poor financial reports.
Analysis of Differences in Stock Trading Volume, Bid-Ask Spread, and Abnormal Returns Before and After a Stock Split: Empirical Evidence from Companies Listed on the Indonesian Stock Exchange Solo, Yolanda Patricia; Rahmawati, Christina Heti Tri; Purwoto, Lukas
MBIA Vol. 23 No. 1 (2024): Management, Business, and Accounting (MBIA)
Publisher : Direktorat Riset dan Pengabdian kepada Masyarakat Universitas Bina Darma

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33557/mbia.v23i1.2754

Abstract

A stock split is a company activity carried out in the capital market by splitting the number of shares when the share price does not increase to make it affordable for investors. The research objective is to analyze differences in stock trading volume, bid-ask spread, and abnormal returns before and after the stock split. The research population was all corporations listed on the Indonesia Stock Exchange (BEI) and practicing stock splits in 2018-2022, totaling 42 companies. The research sample included some corporations listed on the IDX and practicing stock splits in 2018-2022 and fulfilling the purposive sampling technique, namely not carrying out other corporate actions in the window period of 5 days before and 5 days after the stock split, totaling 36 companies. The data analysis technique uses the Wilcoxon signed-rank test. The research results show (1) no difference in stock trading volume and bid-ask spread before and after the stock split; (2) there are differences in abnormal returns before and after the stock split. Keywords: Stock Trading Volume, Bid-Ask Spread, Abnormal Return, Stock Split Abstrak Stock split merupakan sebuah aktivitas perusahaan yang dilakukan di pasar modal melalui pemecahan jumlah lembar saham pada saat tidak naiknya harga saham sehingga dijangkau investor. Tujuan penelitian menganalisis perbedaan volume perdagangan saham, bid-ask spread, dan abnormal return sebelum dan setelah stock split. Populasi penelitian semua korporasi yang tercatat di Bursa Efek Indonesia (BEI) dan mempraktikkan stock split tahun 2018-2022 sejumlah 42 perusahaan. Sampel penelitian sebagian korporasi yang tercatat di BEI dan mempraktikkan stock split tahun 2018-2022 serta memenuhi teknik purposive sampling yaitu tidak melakukan aksi korporasi lainnya pada periode jendela 5 hari sebelum dan 5 hari sesudah stock split sebanyak 36 perusahaan. Teknik analisis data menggunakan uji beda wilcoxon signed rank test. Hasil penelitian menunjukkan (1) tidak terdapat perbedaan volume perdagangan saham dan bid-ask spread sebelum dan setelahstock split; (2) terdapat perbedaan abnormal return sebelum dan setelah stock split. Kata kunci: Volume Perdagangan Saham, Bid-Ask Spread, Abnormal Return, Pemecahan Saha
Pengaruh Iklim Sekolah dan Pemantauan Orang Tua terhadap Perilaku Perundungan Pelajar Prasettyo, Syofian Hari; Purwoto, Lukas
Jurnal Pendidikan dan Kebudayaan Vol. 10 No. 1 (2025)
Publisher : Badan Standar, Kurikulum, dan Asesmen Pendidikan, Kemendikdasmen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24832/jpnk.v10i1.4215

Abstract

Perilaku perundungan di sekolah masih menjadi persoalan serius di Indonesia. Penelitian untuk memperoleh faktor-faktor yang dapat mengurangi perilaku perundungan pelajar perlu dilakukan sebagai dasar untuk merancang program intervensi. Penelitian ini bertujuan untuk mendapatkan gambaran perundungan yang terjadi pada pelajar sekolah dan kemudian menguji pengaruh iklim sekolah dan pemantauan orang tua terhadap perilaku perundungan. Penelitian ini menggunakan metode penelitian kuantitatif. Data yang digunakan adalah data primer dengan menyebarkan kuesioner kepada para pelajar sekolah. Analisis data dilakukan dengan menerapkan regresi logistik. Hasil penelitian memperlihatkan bahwa jenis perundungan yang menonjol dijumpai adalah perundungan verbal dan relasional. Dengan menerapkan analisis regresi logistik, hasil penelitian menunjukkan bahwa iklim sekolah yang positif menurunkan kemungkinan para pelajar untuk menjadi korban perundungan. Selain itu, iklim sekolah yang positif dan pemantauan orang tua mengurangi kemungkinan pelajar untuk menjadi pelaku perundungan. Pendidikan karakter merupakan salah satu upaya sekolah untuk mencegah terjadinya perundungan di sekolah. Dengan demikian, baik pihak sekolah maupun orang tua berperan dalam mengurangi maraknya perilaku perundungan di kalangan remaja pelajar.
Co-Authors Christina Heti Tri Rahmawati Eduardus Tandelilin Prasettyo, Syofian Hari Solo, Yolanda Patricia