Widasari, Cahita (2018) THE EFFECT OF STOCK SPLIT TOWARD ACTUAL RETURN, TRADING VOLUME ACTIVITY, AND BID-ASK SPREAD (An Empirical Study on The Companies Listed in Indonesia Stock Exchange Period 2015-2017). S1 thesis, Fakultas Ekonomi.
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Abstract
This study aims to determine whether there are differences in actual return, trading volume activity, and bid-ask spread. The stock price that valued too high made an ability of investor to buy the stock will decrease, so the company got the stock split activity with the aims to decrease the stock price in the certain range that can be achieved by the investor. This research has used event study with event window for 20 days, that was 10 days before and 10 days after the stock split. This type of research was a quantitative research using secondary data in the form of daily stock data obtained from the Indonesia Stock Exchange. The sampling technique that used in this research was purposive sampling and 46 companies were selected as a sample of this research. The data analysis technique that used in this study was paired sample t-test by looking at the difference between before and after the stock split event. The results of this study indicate that there is no difference in stock returns in the period around the announcement of the stock split with a significance level of 0.171. The researcher also found no difference in stock liquidity indicated by Trading Volume Activity proxy with a significance level of 0.636, but this research showed the different result for Bid-Ask Spread proxy where there is a difference with significance level 0,008.
| Item Type: | Thesis (S1) |
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| Uncontrolled Keywords: | stock split, stock return, stock liquidity, actual return, trading volume activity, bid-ask spread |
| Subjects: | Umum > Penelitian Ilmu Sosial > Ekonomi > Akuntansi |
| Divisions: | Fakultas Ekonomi dan Bisnis (FEB) > Pendidikan Akuntansi > Akuntansi |
| Depositing User: | Admin Akuntansi FE |
| Date Deposited: | 30 Oct 2018 08:48 |
| Last Modified: | 30 Jan 2019 17:26 |
| URI: | http://eprints.uny.ac.id/id/eprint/60981 |
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