Article Per Year (5 Year)
p-Index From 2021 - 2026
0.562
P-Index
This Author published in this journals
All Journal INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE) INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS (IJEFE)
Dewa Gede Wirama
Faculty of Economics and Business, Udayana University
Economics, Econometrics & Finance

Published : 3 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 3 Documents
Search

 1 
THE EFFECT OF STOCK RETURNS, TRADING VOLUME, AND STOCK PRICE VOLATILITY ON THE BID-ASK SPREAD Marcelitha Riskyla; Dewa Gede Wirama
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 12 (2025): SEPTEMBER
Publisher : Adisam Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Stocks are the most popular investment instruments in the capital market. Investors use various types of information in their investment activities to gain maximum profit. One such piece of information is the bid-ask spread. Trading activities on the Indonesia Stock Exchange are inseparable from the movement of the distance between the bid and ask (offer), yet in general, investors tend to pay little attention to the stock bid-ask spread. Therefore, this study aims to analyze the effect of stock returns, stock trading volume, and stock price volatility on the bid-ask spread. This research was conducted on companies listed on the Indonesia Stock Exchange for the 2018–2022 period by accessing data through the official website of the Indonesia Stock Exchange (IDX). This is a quantitative study with a sample of 274 companies using probability sampling with the proportionated stratified random sampling technique. The analysis method used is multiple linear regression. The results of this study show that stock returns have a significant positive effect on the bid-ask spread, stock trading volume has a significant positive effect on the bid-ask spread, and stock price volatility also has a significant positive effect on the bid-ask spread in companies listed on the Indonesia Stock Exchange during the 2018–2022 period. This study can serve as a benchmark for determining which company stocks to invest in by analyzing variables supported by signaling theory and capital market theory, in which a liquid or efficient capital market encourages investors to participate in investment activities.
THE EFFECT OF FIRM SIZE ON INCOME SMOOTHING WITH FINANCIAL LEVERAGE AND GOOD CORPORATE GOVERNANCE AS MODERATORS Odilio Agung Meta Putra; Dewa Gede Wirama
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 3 No. 2 (2025): INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE (INJOLE)
Publisher : Adisam Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Income smoothing is a managerial practice aimed at stabilizing reported earnings across periods. This study analyzes the effect of firm size on income smoothing with financial leverage and good corporate governance (GCG) as moderating variables in non‑financial companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2023 period. Secondary data were obtained from annual financial statements published on the official IDX website. Income smoothing is measured using the Eckel Index; firm size by the natural logarithm of total assets; financial leverage by the debt‑to‑asset ratio (DAR); and GCG by the proportion of independent commissioners. Samples were selected using Slovin’s formula and stratified random sampling, yielding 272 firms. Data were analyzed using logistic regression with moderation (Moderated Regression Analysis/MRA). The results show that firm size has a positive effect on income smoothing; financial leverage does not moderate the relationship between firm size and income smoothing; whereas GCG moderates (weakens) the effect of firm size on income smoothing.
DIVIDEND SIGNALS AND STOCK RETURNS Anak Agung Ayu Riris Prayasita; Dewa Gede Wirama
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 1 (2025): JULY
Publisher : CV. Adiba Aisha Amira

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Dividend signals are considered one form of information used by investors in making investment decisions. This study is based on signaling theory, which posits that information disclosed by corporate management, such as dividend distribution, can influence investors' perceptions of future stock return potential. The aim of this study is to determine the effect of dividend signals on stock returns in companies listed on the Indonesia Stock Exchange (IDX) in 2024. The dividend signal variable is measured using a dummy variable: a score of 1 is assigned if there is an increase or initiation of dividends, and 0 if there is no increase or no dividend distribution. Control variables include net profit margin (NPM), return on equity (ROE), and total asset turnover (TAT), which have consistently been shown to influence stock returns in prior studies. This study uses secondary data from annual financial reports published on the IDX website. The sample comprises 278 companies, determined using the Slovin formula and selected via proportionate stratified random sampling. Multiple linear regression analysis is employed to assess the effect of the independent variable on stock returns. The results indicate that dividend signals have a positive effect on stock returns. This finding suggests that investors regard dividend-related information as an important signal in making investment decisions. For companies, the result implies that dividend policy should be given due consideration, as it influences investor perceptions of the company's future prospects.
Co-Authors Anak Agung Ayu Riris Prayasita Marcelitha Riskyla Odilio Agung Meta Putra