PENGARUH TINGKAT KEMAHALAN HARGA SAHAM, KINERJA KEUANGAN PERUSAHAAN DAN LIKUIDITAS PERDAGANGAN SAHAM TERHADAP KEPUTUSAN PERUSAHAAN MELAKUKAN STOCK SPLIT
Abstract: This study aims to
examine the effect of the over price d stock prices, the company's financial
performance and liquidity of stock trading on the company's decision to doa
stock split and its impact on corporate value. In this study the level of over
price dstock prices measured by the Price Earnings Ratio and Price to Book
Value,the company's financial performance is measured by Return on Assets and
Earnings Per Share,liquidity of stock trading volume is measured by the Trading
Activity and firm value will be measured by the earnings and Tobin's q.
Analysis tools will be used in this study are the logistic regression and two
independent sample t-test. This study used a sample a mounted to 31 go public
companies that do the stock-split and 31 go public companies who do not do
stock splits during the period 2003-2009. Based on the results of testing,
found that the level of over price dstock prices as measured by the ratio of
Price to Book Value affect the company's decision to do stock splits and stock
trading liquidity which measured by Trading Volume Activity also affects the
company's decision to doa stock split. But this study failed to show any
differences between the values of the companies that do the stock-split with
the companies that do not do stock splits.
Key words: price earnings
ratio, price to book value,earnings per share,return on assets, trading volume
activity, earnings, tobins'q
Penulis: Jurica Lucyanda,
Ditya Anggriawan
Kode Jurnal: jpakuntansidd110223
