ANALISIS PERBEDAAN LIKUIDITAS SAHAM, ROI DAN EPS SEBELUM DAN SESUDAH STOCK SPLIT

Authors

  • Putri Dewi Utami
  • Sri Hermuningsih University of Sarjanawiyata Tamansiswa image/svg+xml
  • Agus Dwi Cahya University of Sarjanawiyata Tamansiswa image/svg+xml

DOI:

https://doi.org/10.31000/competitive.v6i1.4329

Abstract

The purpose of this study is to analyze the differences in Stock Liquidity, ROI, and EPS before and after the Stock Split in companies listed on the Indonesia Stock Exchange in the 2015-2019 period. The population in this study were all companies listed on the Indonesia Stock Exchange and conducted a Stock Split. The data used is secondary data, while the data source is obtained through www.idx.co.id. Of the 66 companies listed on the Indonesia Stock Exchange that carried out a stock split, only 10 companies met the criteria for the research sample that had been determined. The analysis technique is descriptive analysis, classical assumption test, hypothesis testing using paired sample t-test with the help of SPSS. The results showed that (1) there was a difference between stock liquidity before and after the stock split, this was indicated by the results of the 2 average difference test obtained because -t count -1.078 <2.011 -t table with a significance value of 0.03 <0 , 05 (2) there is a difference between Return On Investment before and after the stock split, this is indicated by the results of the average 2 difference test obtained because -t count -0.700 <2.011 -t table with a significance value of 0.001 <0.05 ( 3) there is no difference between EPS before and after the stock split, this is indicated by the results of the average 2 difference test obtained because - t count 1.204 <2.011 - t table with a significance value of 0.259> 0.05.

Keywords: Stock Split, Stock Liquidity, Return On Investment (ROI), Earning Per Share (EPS

Downloads

Download data is not yet available.

Author Biography

  • Putri Dewi Utami
    Universitas Sarjanawiyata Tamansiswa

References

Abbas, D. S., Ismail, T., Taqi, M., & Yazid, H. (2021). DOES COMPANY'S SOURCE OF CAPITAL SIGNAL INCREASING COMPANY VALUE: A CASE STUDY OF BASIC INDUSTRIAL AND CHEMICAL COMPANIES. Academy of Accounting and Financial Studies Journal, 25, 1-10.

Abbas, D. S., Eksandy, A., & Hakim, M. Z. (2020). Faktor Keuangan dan Return on Asset melalui Debt Equity Ratio. Jurnal Akuntansi Indonesia, 9(2), 106-130.

Agus Setiyanto. 2005. “Analisis Likuiditas Saham Sebelum Dan Sesudah Stock Split Di Bursa Efek Jakart Periode 2003-2005.†Https://Dspace.Uii.Ac.Id/Handle/123456789/18578.

Anggraeni, Rr Tini, And Akrim Hayata. 2018. “Stock Split Dan Pengaruhnya Pada Return Saham.†Agregat: Jurnal Ekonomi Dan Bisnis 2 (2): 324. Https://Doi.Org/10.22236/Agregat_Vol2/Is2pp324-343.

Fandayani, Ratri. 2015. “Analisis Perbedaan Likuiditas Saham, Per, Roi, Dan Eps Sebelum Dan Sesudah Stock Split Pada Perusahaan Go Public Di Bursa Efek Indonesia (Studi Kasus Pada Perusahaan Yang Melakukan Stock Split Periode 2010-2012).â€

Fatmawati, Sri, And Marwan Asri. 1999. “Pengaruh Stock Split Terhadap Likuiditas Saham Yang Diukur Dengan Besarnya Bid-Ask Spread Di Bursa Efek Indonesia.†Jurnal Ekonomi Dan Bisnis Indonesia 14 (1): 15.

Grinblatt, Mark S., Ronald W. Masulis, And Sheridan Titman. 1984. “The Valuation Effects Of Stock Splits And Stock Dividends.†Journal Of Financial Economics 13 (4): 461–90. Https://Doi.Org/10.1016/0304-405x(84)90011-4.

Hanafi, Moh Imam, And Siti Ragil Handayani. 2019. “Pengaruh Struktur Modal Dan Profitabilitas Terhadap Harga Saham (Studi Pada Sektor Property Dan Real Estate Yang Terdaftar Pada Bursa Efek Indonesia Periode Tahun 2015-2017).†Jurnal Administrasi Bisnis (Jab) 74 (1):1–9.

Hermuningsih, Sri, Mujino Mujino, And Nanda Adhiwijaya. 2018. “Analisis Perbedaan Return Saham Dan Volume Perdagangan Saham Sebelum Dan Sesudah Kejadian Pemecahan Saham (Stock Split) Tahun 2017 (Studi Empiris Pada Perusahaan Go Public Yang Terdaftar Di Bursa Efek Indonesia).†Jurnal Ekobis Dewantara Vol. 1 No. 8 Agustus 2018 1 (8): 114–21.

Hutomo, Arry, Theresia Marditama, Nandan Limakrisna, Ilham Sentosa, John Lee, And Kean Yew. 2020. “Green Human Resource Management, Customer Environmental Collaboration And The Enablers Of Green Employee Empowerment: Enhanching An Environmental Performance.†Dinasti International Journal Of Economics, Finance & Accounting 1 (2): 696–709. Https://Doi.Org/10.38035/Dijefa.

Indarti, I., And Desti Mulyani Br Purba. 2011. “Analisis Perbandingan Harga Saham Dan Volume Perdagangan Saham Sebelum Dan Sesudah Stock Split.†Aset 13 (1): 59. Https://Widyamanggala.Ac.Id/Journal/Index.Php/Jurnalaset/Article/View/73.

Janiantari, I Gusti Ayu, And I Dewa Nyoman Badera. 2014. “Analisis Perbedaan Bid-Ask Spread Dan Abnormal Return Saham Sebagai Dampak Dari Pengumuman Stock Split.†E-Jurnal Akuntansi Universitas Udayana 2: 267–82.

Kristianiarso, Aloysius Adimas. 2017. “Analisis Perbedaan Likuiditas Saham, Harga Saham, Dan Return Saham Sebelum Dan Sesudah Stock Split (Studi Pada Perusahaan Go Public Yang Melakukan Stock Split Periode 2011-2014).†Journal Of Chemical Information And Modeling 53 (9): 21–25. Http://Www.Elsevier.Com/Locate/Scp.

Kumar, Pankaj. 2017. “Impact Of Earning Per Share And Price Earnings Ratio On Market Price Of Share: A Study On Auto Sector In India.†International Journal Of Research -Granthaalayah 5 (2): 113–18. Https://Doi.Org/10.29121/Granthaalayah.V5.I2.2017.1710.

Labibah, Mazra Iffah, And Susi Dwimulyani. 2014. “Analisis Harga Saham, Likuiditas Saham, Earning Per Share, Dan Price Earnings Ratio Antara Sebelum Dan Setelah Stock Split.†Jurnal Akuntansi Trisakti 1 (2): 33. Https://Doi.Org/10.25105/Jat.V1i2.4825.

Maulana, Dika. 2018. “Analisis Pengumuman Stock Split Terhadap Likuiditas Saham, Return Saham, Dan Profitabilitas Perusahaan Di Indonesia.†ثبثبثب Ø« ققثق (4): ثقثقثقثق. Https://Www.Jstage.Jst.Go.Jp/Article/Amr/1/5/1_010501/_Article/-Char/Ja/%0ahttp://Www.Ghbook.Ir/Index.Php?Name=Ùرهنگ Ùˆ رسانه های نوین&Option=Com_Dbook&Task=Readonline&Book_Id=13650&Page=73&Chkhashk=Ed9c9491b4&Itemid=218&Lang=Fa&Tmpl=Component%0ahttp://Dx.

Mulfita, Awidi, And Irdha Yusra. 2019. “Analisis Regresi Data Panel Terhadap Likuiditas Saham Di Indonesia.†Https://Doi.Org/10.31227/Osf.Io/3jh5y.

Nasution, Yenny S. J. 2015. “Peranan Pasar Modal Dalam Perekonomian Negara.†Human Falah: Jurnal Ekonomi Dan Bisnis Islam 2 (1): 95–112.

Pramana, Andi. 2012. “Analisis Perbandingan Trading Volume Activity Dan Abnormal Return Sebelum Dan Sesudah Pemecah Saham (Studi Kasus Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia Periode 2007-2011).†Juornal Management Diponegoro, 1–9. Jurnalmahasiswa.Stiesia.Ac.Id.

Sausan, F R, L Korawijayanti, And Arum Febriyanti Ciptaningtias. 2020. “The Effect Of Return On Asset (Roa), Debt To Equity Ratio (Der), Earning Per Share (Eps), Total Asset Turnover (Tato) And Exchange Rate On Stock Return Of Property And Real Estate Companies At Indonesia Stock Exchange Period 2012-2017.†Ilomata International Journal Of Management 1 (2): 103–14. Https://Www.Ilomata.Org/Index.Php/Ijtc/Article/View/66.

Sujana, I Nyoman. 2017. “Pasar Modal Yang Efisien.†Ekuitas: Jurnal Pendidikan Ekonomi 5 (2): 33–40. Https://Doi.Org/10.23887/Ekuitas.V5i2.1273.

Zamfir, Mariana, Marinela Daniela Manea, And Luiza Ionescu. 2016. “Return On Investment – Indicator For Measuring The Profitability Of Invested Capital.†Valahian Journal Of Economic Studies 7 (2): 79–86. Https://Doi.Org/10.1515/Vjes-2016-0010.

Downloads

Published

2022-01-19

Issue

Vol. 6 No. 1 (2022): Competitive Jurnal Akuntansi dan Keuangan

Section

Articles

License

Copyright Notice

Authors who publish in Competitive Jurnal Akuntansi dan Keuangan agree to the following terms:

  1. Authors retain the copyright of their work and grant the journal the right of first publication. The published work is simultaneously licensed under a Creative Commons Attribution License (CC BY-SA) or its equivalent, allowing others to share, distribute, adapt, and reuse the work with proper acknowledgment of the original authorship and initial publication in this journal.

  2. Authors may enter into separate, additional contractual arrangements for the non-exclusive distribution of the published version of the work, such as depositing it in institutional repositories, personal websites, academic social networks, or publishing it as part of a book, provided that acknowledgment is given to its initial publication in this journal.

  3. Authors are permitted and encouraged to post their manuscripts online, both before and during the submission process, including in institutional repositories or personal websites. This practice can facilitate academic exchange, increase visibility, and potentially enhance citation impact.

  4. Competitive Jurnal Akuntansi dan Keuangan adopts the CC BY-SA license as the preferred license for the publication, dissemination, use, and reuse of scholarly works in support of open-access academic communication.

  5. In developing publication strategies and editorial policies, Competitive Jurnal Akuntansi dan Keuangan recognizes that open and unrestricted access to scientific knowledge is essential for advancing global scholarship. Therefore, the journal supports wider accessibility, transparency, and responsible knowledge sharing in accordance with international open-access principles.

  6. All published articles are freely accessible to readers worldwide without subscription or payment barriers, supporting broader dissemination of scientific knowledge and academic collaboration.

How to Cite

[1]
P. D. Utami, S. Hermuningsih, and A. D. Cahya, “ANALISIS PERBEDAAN LIKUIDITAS SAHAM, ROI DAN EPS SEBELUM DAN SESUDAH STOCK SPLIT”, COMPETITIVE, vol. 6, no. 1, pp. 170–178, Jan. 2022, doi: 10.31000/competitive.v6i1.4329.