Pengaruh Kebijakan Stock Split Terhadap Likuiditas Saham dan Return Saham Perusahaan Yang Terdaftar di Bursa Efek Indonesia

Astuti, Dian Nucky (2017) Pengaruh Kebijakan Stock Split Terhadap Likuiditas Saham dan Return Saham Perusahaan Yang Terdaftar di Bursa Efek Indonesia. Undergraduate thesis, STIE Perbanas Surabaya.

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Abstract

Stock prices that are too high can affect the purchasing power of investors in a stock. If the stock price is too high then the stock becomes less liquid because some investors can exchange their shares. Then the company does a stock split policy. Stock split is corporate action, stock split makes stock 1 / n. This will affect the number of shares and stock value. Small share value makes stock price low. Low stock prices will be easy to trade so that stock liquidity will increase and can be an opportunity to increase abnormal return. This study aims to determine the effect of stock split policy on stock liquidity and abnormal return of companies listed on the Indonesia Stock Exchange period 2011-2016. The research method used is purposive sampling to determine sample criteria. Tests in this study using the test wilcoxon signed rank test to determine the existence of differences in liquidity and abnormal return after the stock split. There are three results from this study. The first result is the difference of stock liquidity after the stock split but the resulting difference is negative. So stock liquidity after stock split is smaller than before stock split. Secondly, there is abnormal difference of daily average return after stock split with negative value, so that there is decreasing of abnormal return after stock split. Third, there is no difference of abnormal return at t-2 to t-1. The results obtained can be considered for the issuers who will conduct stock split policies to be more considerate and careful in the conduct of corporate actions, especially stock split. Then for investors should be careful in making decisions to invest in order to minimize risk and maximize profit. Key Word: Stock Split , Liquidity, Abnormal return

Item Type: Thesis (Undergraduate)
Subjects: 600 - TECHNOLOGY > 658 - GENERAL MANAGEMENT > 658.15 - FINANCIAL MANAGEMENT
Divisions: Bachelor of Management
Depositing User: Perpustakaan STIE Perbanas Surabaya
Date Deposited: 09 Jan 2020 07:08
Last Modified: 09 Jan 2020 07:08
URI: http://eprints.perbanas.ac.id/id/eprint/5911

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