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All Journal Distribusi Wiga : Jurnal Penelitian Ilmu Ekonomi
Umar Sumardi
Universitas Terbuka
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering Social Sciences Other

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Analysis of the Effect of Stock Split and Dividend Policy on the Stock Liquidity of Go Public Companies Umar Sumardi; Nizwan Zukhri; Rini Yayuk Priyati
Wiga : Jurnal Penelitian Ilmu Ekonomi Vol. 12 No. 2 (2022): June 2022
Publisher : Institut Teknologi dan Bisnis Widya Gama Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30741/wiga.v12i2.812

Abstract

The purpose of this study is to analyze the effect of the stock split and dividend policy by the company on the liquidity of the shares of companies listed on the Indonesia Stock Exchange. This study used an event study design, where observations were made 10 days before and 10 days after the event. The population contained in the study are companies that carry out Stock Split and Dividend policies for the 2017-2021 period. Data analysis in this study is the Shapiro Wilk test and the Wilcoxon Signed Ranks Test. This study found that stock split policy has no effect on stock liquidity. Dividend policy has no effect on stock liquidity.
FINANCIAL LITERACY AS FOUNDATION OF FINANCIAL INCLUSION: FEB VERSUS NON-FEB STUDENTS IN EAST JAVA Umar Sumardi; Alfiatun Ni'mah
Distribusi - Journal of Management and Business Vol. 14 No. 2 (2026): Distribusi, September 2026
Publisher : Fakultas Ekonomi dan Bisnis Universitas Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29303/distribusi.v14i2.728

Abstract

This study aims to examine whether there is a significant difference in the level of financial literacy between students of the Faculty of Economics and Business (FEB) and non-FEB students in East Java. A quantitative comparative approach with an ex post facto design was employed. Data were collected through an online questionnaire from undergraduate students across six regions in East Java, selected using purposive sampling. Financial literacy was measured through four indicators—general financial knowledge, saving and borrowing, insurance and risk management, and investment—using a five-point Likert scale. Because the data were not normally distributed, hypothesis testing used the Mann-Whitney U test, complemented by an effect size measure. The results show that although FEB students obtained a slightly higher average rank than non-FEB students, the difference was not statistically significant and the effect size was small. These findings indicate that faculty affiliation is not a decisive determinant of students' financial literacy, and that literacy is shaped by channels beyond the formal curriculum, such as non-formal financial education, family environment, and access to technology. Accordingly, efforts to strengthen financial literacy as a foundation for financial inclusion in East Java should be designed across disciplines and not limited to economics students.
Co-Authors Alfiatun Ni'mah Nizwan Zukhri Rini Yayuk Priyati, Rini Yayuk