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Abstrak :
Penelitian ini mempelajari pengaruh tingkat likuiditas aset perusahaan terhadap likuiditas saham yang diwakili oleh dua alternatif ukuran likuiditas yaitu zero return dan ukuran Illiquid dari Amihud. Penelitian ini menggunakan sampel perusahaan di Indonesia yang terdaftar di BEI periode 2000 sampai 2010. Analisis regresi data panel digunakan untuk menguji pengaruh tingkat likuiditas aset terhadap likuiditas saham. Dari hasil penelitian ditemukan bahwa tingkat likuiditas aset perusahaan mempengaruhi secara positif terhadap likuiditas saham yang diwakili oleh zerro return tapi tidak berpengaruh secara signifikan jika likuiditas aset perusahaan diukur oleh WAL1 dan likuiditas saham diwakili oleh ukuran Illiq. Hal ini menunjukan bahwa semakin tinggi tingkat likuiditas aset perusahaan maka semakin tinggi tingkat likuiditas saham.

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The purpose of this study is to evaluate the effect of asset liquiidty company level on stock liquidity. This study use two alternative stock liquidity measure, zerro return and Illiquid measure. This anlysis use all company listing on BEI at periode 2000-2010. This study uses regression data panel analysis to evaluate the effect of asset liquidity company level on stock liquidity. This study provide empirical evidences to support the effect of asset liquidity level to stock liquidity. This study finds that firm with higher level of asset liquidity resulting high stock liquidity.

Abstrak :
Penelitian ini dilakukan untuk mengetahui tingkat likuiditas serta nilai return dan risiko sistematik saham pada perusahaan ndash perusahaan yang terdaftar pada bursa efek periode 2009 sampai 2012 Analisis dilakukan setelah menggolongkan perusahaan berdasarkan tingkat likuiditasnya LMx digunakan untuk menghitung tingkat likuiditas sedangkan beta digunakan untuk menghitung risiko sistematik saham Hasil penelitian menunjukkan sejak 2009 ndash 2012 selalu terjadi peningkatan likuiditas saham ndash saham pada Bursa Efek Indonesia Selain itu dari penelitian ini kita juga dapat mengetahui bahwa nilai average return dari saham ndash saham di Bursa Efek Indonesia selama periode penelitian selalu bernilai positif Penelitian ini juga menunjukkan bahwa tidak terdapat korelasi antara tingkat likuiditas dengan return pada Bursa Efek Indonesia dan juga bahwa terdapat korelasi antara tingkat likuiditas dengan risiko sistematik beta namun tidak terdapat korelasi antara return dengan beta. ...... This study conducted to investigate liquidity rate stock return and systematic risk on listed companies in Indonesia Stock Exchange 2009 2012 Analysis conducted after dividing companies based on their liquidity rate LMx was used to calculate liquidity rate meanwhile beta was used to calculate stock systematic risk Result of this study show that since 2009 until 2012 liquidity rate of stocks in Indonesia Stock Exchange always increase Furthermore from this study also we know that average retun of the stocks at Indonesia Stock Exchange during research period always has positive value This study also shows that there is no correlation between liquidity rate and return at Indonesia Stock Exchange and also there is correlation between liquidity rate and systematic risk beta but there is no correlation between return and beta.

Abstrak :
Tujuan penelitian ini adalah untuk mengetahui pengaruh IPO Underpricing terhadap likuiditas saham di Bursa Efek Indonesia selama periode 2006-2011. Penelitian ini menggunakan dua pendekatan untuk menghitung variabel terikat (likuiditas saham), yaitu volume perdagangan saham (VOL) dan volume uang dalam perdagangan saham (DVOL). Begitu juga dalam menghitung variabel bebas (underpricing), menggunakan dua pendekatan yaitu UNDO dan UNDC. Dalam menghitung UNDO, harga saham yang digunakan adalah harga pembukaan hari pertama listing. Sedangkan untuk perhitungan UNDC, harga saham yang digunakan adalah harga penutupan hari pertama listing. Pengujian hipotesis penelitian ini menggunakan model regresi linear berganda dengan data cross section. Sampel dalam penelitian ini sebanyak 75 perusahaan yang melakukan IPO selama periode 2006-2011. Penelitian ini juga menggunakan tiga variabel kontrol, yaitu jumlah lembar saham yang ditawarkan saat IPO, harga perdana saham, dan umur perusahaan. Hasil penelitian menunjukkan bahwa underpricing berpengaruh positif signifikan terhadap volume perdagangan saham (VOL) di Bursa Efek Indonesia. Sedangkan untuk likuiditas dengan pendekatan volume uang (DVOL), underpricing tidak berpengaruh signifikan. Hal ini sejalan dengan penelitian yang dilakukan Zhen dan Li (2007) yang menyatakan bahwa underpricing berpengaruh positif terhadap volume transaksi. Zhen dan Li tidak menemukan hubungan yang konsisten antara underpricing dengan ukuran likuiditas lainnya.

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The objective of this research is to examine the effect of IPO Underpricing on stock liquidity in the Indonesian Stock Exchange during the period 2006-2011. This study used two approaches to calculate the dependent variable (stock liquidity), which are trading volume and volume of money in stock trading. In calculating the independent variable (underpricing), this study also uses two approaches, they are UNDO and UNDC. In calculating an UNDO, the share price used is the opening price of the first day of listing. In UNDC calculating, stock price used is the closing price of the first day of listing. The hypothesis testing of this study using a multiple linear regression model with cross section data. The samples in this study were 75 companies. This study also used three control variables: the number of shares offered, the initial price of the stock, and firm age. The results showed that underpricing is positively significant to trading volume (VOL) at the Indonesian Stock Exchange. The research also found that underpricing has no significant relation to the volume of money (DVOL). This is consistent with research conducted Zhen and Li (2007) which states that the underpricing positively related to the volume of transactions. Zhen and Li did not find any consistent relation between underpricing and other liquidity measures.

Abstrak :
Penelitian ini menguji pengaruh adopsi XBRL terhadap asimetri informasi dan likuiditas saham yang terdaftar di Bursa Efek Indonesia. Sampel yang digunakan adalah seluruh perusahaan yang terdaftar di Bursa Efek Indonesia. Periode penelitian ini adalah 2 tahun mulai tahun 2014 hingga 2015 dimana periode tersebut dibagi menjadi dua, yaitu sebelum dan sesudah adopsi XBRL. Berdasarkan hasil uji statistik atas model regresi, disimpulkan bahwa adopsi XBRL berpengaruh negatif terhadap asimetri informasi. ...... This study examines the effect of XBRL implementation on information asymmetry in IDX listed companies. The samples which used in this study are all listed companies on IDX. The period of this study are 2 years started from 2014 to 2015 and divided into two periods, which are pre and post XBRL implementation. Based on the results of the regression model, XBRL implementation has negative significant effect on information asymmetry.

Abstrak :
Penelitian ini bertujuan untuk menguji pengaruh likuiditas saham terhadap mispricing saham di Indonesia. Likuiditas saham diukur dengan mengunakan tiga ukuran yaitu, amihud illiquidity, amihud risk dan share turnover. Pengujian dilakukan dengan menggunakan regresi berganda dan panel data dengan sampel sebanyak 92 perusahaan yang tercatat di bursa efek Indonesia selama periode 2004-2011. Hasil penelitian ini membuktikan bahwa ukuran (size) perusahaan berpengaruh negatif dan signifikan terhadap mispricing saham. Book to market ratio perusahaan berpengaruh negatif dan signifikan terhadap mispricing saham. Likuiditas saham dengan ukuran amihud illiquidity berpengaruh negatif dan signifikan terhadap mispricing saham. Likuiditas saham dengan ukuran amihud risk berpengaruh negatif dan signifikan terhadap mispricing saham. Namun Likuiditas saham dengan ukuran share turnover berpengaruh positif dan signifikan terhadap mispricing saham. ......The objective of this research is to analyze the effect of stock liquidity on stock mispricing at indonesia stock exchange. This Research uses multiple regression and panel data with 92 company listed at Indonesia Stock Exchange taken as a sample. The result of this research shows that size and book to market ratio have negative effect and significantly influence stock mispricing. Stock Liquidity measured by amihud illiquidity shows that liquidity has negative effect and significantly influence stock mispricing. Stock Liquidity measured by amihud risk also shows that liquidity has negative effect and significantly influence stock mispricing. However, Stock Liquidity measured by share turnover shows that liquidity has positive effect and significantly influence stock mispricing.

Abstrak :
Penelitian ini bertujuan untuk mengidentifikasi pengaruh capital expenditures terhadap likuiditas saham pada perusahaan ndash; perusahaan non-bank dan non-keuangan yang terdaftar di Bursa Efek Indonesia periode 2010-2015. Penelitian ini menggunakan Amihud daily illiquidity measure sebagai proksi dari likuiditas saham. Dengan menggunakan analisis data panel, hasil penelitian ini menunjukkan bahwa Capital expenditures berpengaruh negatif signifikan terhadap illikuiditas Amihud saham perusahaan. Hal tersebut menunjukkan bahwa apabila perusahaan meningkatkan aktivitas capital expenditures, maka perusahaan tersebut akan mengalami peningkatan likuiditas dari sahamnya. ......This study aims to identify the effect of Capital expenditures on stock liquidity on non bank and non financial companies listed on the Indonesia Stock Exchange period 2010 2015. This study uses Amihud daily illiquidity measure as a proxy of stock liquidity. By using panel data analysis, the results of this study indicate that Capital expenditures have a significant negative effect on the company 39 s Amihud illiquidity measure. It shows that if the company increases the activity of capital expenditures, then the company rsquo s liquidity of its shares will increase as well.

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ABSTRAK
Penelitian ini bertujuan untuk mengetahui pengaruh status kepemilikan perusahaan keluarga terhadap likuiditas saham dengan variabel spread pada perusahaan sektor industri manufaktur yang terdaftar di Bursa Efek Indonesia periode 2011 hingga 2015. Penelitian ini dilakukan dengan menggunakan regresi metode pooled least square. Hasil penelitian ini menunjukkan bahwa perusahaan keluarga atau family firm berpengaruh positif signifikan terhadap spread.

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ABSTRACT
This research is aimed to determine the effect of family ownership to the stock liquidity of the company with spread as the measurement, in manufactur industry sector listed in Indonesia Stock Exchange during period 2011 to 2015. This research was conducted by using pooled least squared. The result of this research indicates that family ownership has positive significant influence to the liquidity of the company.

Abstrak :

Penelitian ini menguji tingkat likuiditas saham perusahaan dan kesempatan investasi yang ada terhadap besarnya jumlah pembelian kembali saham perusahaan di pasar. Periode observasi dibagi ke dalam periode krisis dan periode non krisis, dengan jumlah perusahaan sebanyak 1836 perusahaan yang terdaftar di seluruh pasar saham dunia. Hasil yang didapat menunjukan bahwa selama masa krisis (2008-2010) perusahaan memperhitungkan likuiditas saham dan kesempatan investasi perusahaan dalam mengambil keputusan repurchase. Sementara di masa setelah krisis (2015-2017) perusahaan hanya melihat pada tingkat likuiditas saat melakukan pembelian kembali saham. Penelitian sebelumnya, banyak terpusat pada efek dari pembelian kembali saham terhadap perubahan likuiditas dan nilai saham perusahaan. Sedangkan pada penelitian ini, kami ingin menguji dampak dari likuiditas saham terhadap jumlah pembelian kembali saham perusahaan, yang sekaligus menjadi motivasi penelitian kami.

 

 

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This research examined the level of company’s stock liquidity and the investment opportunities that exist on the amount of the company’s stock repurchase in the market. The observation period was divided into crisis and non-crisis periods with 1836 companies registered in all world stock markets. The results show that during the crisis period (2008-2010), companies considered the company’s stock liquidity and the investment opportunity in making repurchase decisions. Meanwhile, in the post-crisis period (2015-2017), companies only considered the level of liquidity when buying stocks. Previous research studies had focused mostly on the effects of stock repurchase on changes in liquidity and the value of company shares. However, in this study, we wanted to examine the impact of stock liquidity on the amount of the company’s stock repurchase, which was also a motivation for our research.

Abstrak :
[ABSTRAK
Penelitian ini bertujuan untuk menguji pengaruh perhatian investor terhadap likuiditas dan volatilitas saham di ASEAN-5. Perhatian investor di proksikan dengan menggunakan aplikasi Google Trends dan ditampilkan dalam bentuk Google Search Volume (GSV). Pengujian dilakukan dengan menggunakan analisis regresi data panel dengan model Fixed Effect dan pemilihan panel option Seemingly Unrelated Regression (SUR) selama periode 2010 sampai dengan 2014. Hasil penelitian ini membuktikan bahwa perhatian investor berpengaruh secara signifikan terhadap likuiditas serta volatilitas saham di ASEAN-5. Pada akhirnya penelitian ini mengantarkan kita pada sebuah konklusi dimana pencarian informasi yang tinggi mampu menurunkan illikuiditas suatu saham dikarenakan dapat mengurangi asimetri informasi yang terjadi antara informed investor dan un-informed investor. Sehingga dengan meningkatnya likuiditas suatu saham maka akan berimplikasi pada volatilitas saham yang diperdagangkan.

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ABSTRACT
The objective of this research is to analyze the effect of investor attention on stock liquidity and volatility in ASEAN-5. Investor attention exclusively provided by Google Search Volume in the Google Trends application. This research uses panel data regression analysis with Fixed Effect model and uses panel option Seemingly Unrelated Regression (SUR) during the period from 2010 to 2014. The result of this research shows that investor attention significantly influence stock liquidity and volatility in ASEAN-5. Ultimately, these results lead us to a conclusion, that the high search of online information can reduce stock illiquidity because investor attention is one of the efforts to reduce the asymmetry information between informed investor and un-informed investor. Therfore, the increasing of the liquidity on a stock will affect the volatility of share trade.;The objective of this research is to analyze the effect of investor attention on stock liquidity and volatility in ASEAN-5. Investor attention exclusively provided by Google Search Volume in the Google Trends application. This research uses panel data regression analysis with Fixed Effect model and uses panel option Seemingly Unrelated Regression (SUR) during the period from 2010 to 2014. The result of this research shows that investor attention significantly influence stock liquidity and volatility in ASEAN-5. Ultimately, these results lead us to a conclusion, that the high search of online information can reduce stock illiquidity because investor attention is one of the efforts to reduce the asymmetry information between informed investor and un-informed investor. Therfore, the increasing of the liquidity on a stock will affect the volatility of share trade., The objective of this research is to analyze the effect of investor attention on stock liquidity and volatility in ASEAN-5. Investor attention exclusively provided by Google Search Volume in the Google Trends application. This research uses panel data regression analysis with Fixed Effect model and uses panel option Seemingly Unrelated Regression (SUR) during the period from 2010 to 2014. The result of this research shows that investor attention significantly influence stock liquidity and volatility in ASEAN-5. Ultimately, these results lead us to a conclusion, that the high search of online information can reduce stock illiquidity because investor attention is one of the efforts to reduce the asymmetry information between informed investor and un-informed investor. Therfore, the increasing of the liquidity on a stock will affect the volatility of share trade.]