ANALISIS HARGA SAHAM DAN LIKUIDITAS SAHAM SEBELUM DAN SESUDAH STOCK SPLIT (Studi Empiris pada Perusahaan yang Melakukan Stock Split dan Terdaftar di Bursa Efek Indonesia Tahun 2014-2018) - Ria Purwati, - (2020)
Stock split adalah bentuk corporate action yang bertujuan untuk menurunkan harga saham suatu emiten dengan cara melakukan pemecahan saham yang diharapkan dapat meningkatkan jumlah lembar saham yang dimiliki pemegang saham. Kebijakan stock split memberikan dampak terhadap harga saham dan likuiditas saham perusahaan. Penelitian ini bertujuan untuk menganalisis perbedaan harga saham dan likuiditas saham sebelum dan sesudah stock split. Penelitian ini dilakukan pada perusahaan-perusahaan yang terdaftar di Bursa Efek Indonesia yang melakukan aksi korporasi stock split tahun 2014-2018 dengan metode purposive sampling menghasilkan sampel berjumlah 37 perusahaan. Data-data penelitian berupa pengumpulan data sekunder diperoleh dari www.finance.yahoo.com dengan menggunakan event study untuk mengamati pergerakan harga saham dan likuiditas saham 7 hari sebelum dan 7 hari sesudah stock split. Teknik analisis data yang digunakan yaitu wilcoxon signed-rank test. Hasil penelitian ini menunjukkan bahwa terdapat perbedaan harga saham sebelum dan sesudah stock split yang cenderung mengalami kenaikan. Selanjutnya tidak terdapat perbedaan yang terlihat signifikan pada likuiditas saham sebelum dan sesudah stock split. Kata kunci : Stock Split, Harga Saham, Likuiditas Saham ABSTRACT Ria Purwati (1607904), "Analysis of Stock Prices and Stock Liquidity Before and After the Stock Split (Empirical Study on Stock Split Companies Listed on the IDX 2014-2018)", under the guidance of Dr. Maya Sari, S.E., MM and Sulastri, S.Pd., M.Stat., MM. Stock split is a form of corporate action that aims to reduce the share price of an issuer by means of a stock split which is expected to increase the number of shares owned by shareholders. The stock split policy has an impact on stock prices and the liquidity of the company's shares. This study aims to analyze the differences in stock prices and stock liquidity before and after the stock split. This research was conducted on companies listed on the Indonesia Stock Exchange which carried out a corporate action stock split in 2014-2018 with a purposive sampling method resulting in a sample of 37 companies. Research data in the form of secondary data collection were obtained from www.finance.yahoo.com using an event study to observe stock price movements and stock liquidity 7 days before and 7 days after the stock split. The data analysis technique used was the Wilcoxon signed-rank test. The results of this study indicate that there are differences in stock prices before and after the stock split which tends to increase. Furthermore there is no significant difference in the stock liquidity before and after the stock split. Keywords: Stock Split, Stock Price, Stock Liquidity