This study aims to find out: (1) Effect Ratio (DER), inflation and the IDR exchange rate with Price to Book value (PBV). The research sample is the automotive sub-sector manufacturing company and its components in the period 2008-2017 as... more
This study aims to find out: (1) Effect Ratio (DER), inflation and the IDR exchange rate with Price to Book value (PBV). The research sample is the automotive sub-sector manufacturing company and its components in the period 2008-2017 as many as 9 companies. The results of the study with panel data show that simultaneously CR, DER, inflation and the rupiah exchange rate affect ROA, partially CR and inflation have no significant effect on ROA, while DER and the IDR exchange rate have a significant effect on ROA. Simultaneously CR, DER, inflation and the IDR exchange rate affect PBV, partially CR, DER and inflation have no significant effect on PBV, while the IDR exchange rate has a significant effect on PBV. 12. The role of ROA as an intervening variable is very important in increasing the influence of CR, DER, inflation and the IDR exchange rate against Price to Book Value (PBV).
Penelitian ini bertujuan untuk melihat pengaruh dari Likuiditas Saham, Return saham, Earning Per Share dan Tingkat Kemahalan Harga pada Keputusan Stock Split pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia tahun... more
Penelitian ini bertujuan untuk melihat pengaruh dari Likuiditas Saham, Return saham, Earning Per Share dan Tingkat Kemahalan Harga pada Keputusan Stock Split pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia tahun 2016-2019. Penelitian ini menggunakan data sekunder yang diambil dari laporan keuangan tahunan perusahaan manufaktur. Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Jumlah sampel yang digunakan adalah 56 perusahaan yang terdiri dari 28 perusahaan yang melakukan stock split dan 28 perusahaan yang tidak melakukan stock split berdasarkan metode purposive sampling. Metode analisis yang digunakan adalah metode analisis binomial logistic regression menggunakan aplikasi IBM SPSS Statistics 25. Berdasarkan hasil penelitian uji wald, menunjukan hasil bahwa secara parsial likuiditas saham dan earning per share berpengaruh positif signifikan terhadap keputusan stock split, dan tingkat kemahalan harga berpengaruh negatif signifikan terhadap keputusan stock split. Sedangkan return saham tidak memiliki pengaruh terhadap keputusan stock split. Kata Kunci : likuiditas saham; return saham; earning per share; tingkat kemahalan harga; keputusan stock split.
Our paper offers evidence that printed media can affect stock prices by covering public news (nonevents) even without resorting to spin or emphasis. However, the price reaction is limited to small caps, suggesting that small investors... more
Our paper offers evidence that printed media can affect stock prices by covering public news (nonevents) even without resorting to spin or emphasis. However, the price reaction is limited to small caps, suggesting that small investors still obtain public information mainly through newspapers. The absence of spin or emphasis is the core element that differentiates our study from existing evidence, making it unique, to the best of our knowledge, in the financial literature on the media and asset pricing.
