Hasil Pencarian  ::  Simpan CSV :: Kembali

"OJK mengatur regulasi pasar modal untuk menjaga stabilitas pasar modal Indonesia terutama pada saat kondisi berfluktuasi, salah satunya melalui kebijakan share repurchase. Penelitian ini bertujuan untuk menganalisis hubungan share repurchase dan likuiditas terhadap volatilitas saham. Sampel penelitian dipilih dengan teknik purposive sampling dan terdapat 137 sampel yang memenuhi kriteria. Analisis data menggunakan regresi linear berganda. Hasil penelitian ini menunjukkan bahwa share repurchase berpengaruh negatif secara signifikan terhadap volatilitas saham dan likuiditas berpengaruh positif secara signifikan terhadap volatilitas saham. Temuan ini mengindikasikan bahwa share repurchase dapat dijadikan pertimbangan bagi perusahaan untuk upaya meredam volatilitas saham, serta perlu memperhatikan kondisi likuiditas saham sebagai faktor yang mempengaruhi fluktuasi harga saham.

---

FSA oversee capital market regulations to maintain the stability of Indonesian capital market especially during unstable condition, which is through share repurchase policy. This study aims to analyze the relationship between share repurchase and liquidity on stock volatility. The research sample was selected using purposive sampling technique and there were 137 samples that met the criteria. Data analysis was performed using multiple linear regression. The results of this study indicate that share repurchase has a significant negative effect on stock volatility and liquidity has a significant positive effect on stock volatility. These findings indicate that share repurchase can be considered for companies to reduce stock volatility, and need to pay attention to stock liquidity condition as a factor that affecting stock price fluctuations."

"Penelitian ini bertujuan untuk mengetahui hubungan dari penerapan transparansi perusahaan terhadap tingkat dan volatilitas likuiditas. Transparansi perusahaan diukur melalui rata-rata ranking persentil dua indikator, yaitu estimasi manajemen laba dan penggunaan jasa KAP BIG4. Tingkat likuiditas diukur menggunakan dua proxy, yaitu tingkat bid-ask spreads dan price impact measures. Volatilitas likuiditas diukur dengan standar deviasi tahunan dari price impact harian. Sampel penelitian ini adalah 61 perusahaan manufaktur yang konsisten terdaftar di Bursa Efek Indonesia (BEI) pada periode 2008-2010.Hasil pengujian terhadap tingkat likuiditas secara konsisten menunjukkan bahwa transparansi akan meningkatkan tingkat likuiditas saham perusahaan. Pengujian selanjutnya menemukan bahwa transparansi menurunkan tingkat volatilitas likuiditas saham.

---

This research focuses to the relationship between firm?s transparency and stock liquidity and volatility. Transparency is measured by average of percentile rank from two indicators, which are earning management estimation and the use of BIG4 Auditor. Liquidity is measured by two proxies, the bid-ask spreads and price impact measure. This research uses 61 manufacture firms that are consistent to be listed in Bursa Efek Indonesia (BEI) from 2008-2010.

This research proves that transparency consistently has positive significant relationship with both firm?s stock liquidity using each liquidity proxy. From the next test, I found that transparency has negative significant relationship with stock?s liquidity volatility."

"Penelitian ini bertujuan untuk menganalisis pengaruh internet search intensity terhadap return, likuiditas dan volatilitas saham di Bursa Efek Indonesia Periode 2015-2020. Internet search intensity diproksikan menggunakan Google Trend. Pengujian dilakukan menggunakan regresi data panel dengan model Fixed Effect. Kami mencoba mengkategorikan berdasarkan nilai kapitalisasi dan jangka waktunya. Nilai kapitalisasinya terbagi menjadi kecil, sedang dan besar; sedangkan jangka waktunya terbagi menjadi pendek, menengah, dan panjang. Hasil penelitian penelitian ini menunjukkan bahwa internet search intensity berpengaruh signifikan terhadap return saham kecil dalam jangka waktu pendek, menengah, dan panjang. Untuk likuiditas, internet search intensity signifikan terhadap semua jenis saham baik itu saham kecil, sedang, maupun besar dengan jangka waktu untuk saham kecil dan sedang dalam jangka pendek dan menengah; serta pada saham besar internet search intensity berpengaruh dalam jangka waktu pendek, menengah, dan panjang. Sedangkan untuk variabel volatilitas, internet search intensity berpengaruh signifikan terhadap saham sedang dalam jangka waktu pendek dan saham kecil dalam waktu yang panjang.

---

This study aims to analyze the effect of internet search intensity on return, liquidity and stock volatility on the Indonesia Stock Exchange for the 2015-2020 period. Internet search intensity is proxied using Google Trend. Tests were carried out using panel data regression with the Fixed Effect model. We try to categorize it based on the capitalization value and time period. The capitalization value is divided into small, medium and large; while the period is divided into short, medium, and long. The results of this study indicate that internet search intensity has a significant effect on small stock returns in the short, medium, and long term. For liquidity, internet search intensity is significant for all types of stocks, be it small, medium, and large stocks with a term for small and medium stocks in the short and medium term; as well as in large stocks internet search intensity has an effect in the short, medium, and long term. As for the volatility variable, internet search intensity has a significant effect on medium stocks in the short term and small stocks in the long term."

"

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.

 

 

---

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.

"

"Penelitian ini bertujuan untuk menganalisis pengaruh tingkat investor attention, dengan menggunakan proksi Google search volume (GSV), terhadap aktivitas, tingkat likuiditas, dan volatilitas pasar modal Indonesia khususnya perusahaan LQ- 45 pada periode 2010 hingga 2016. Hasil yang diperoleh yaitu pada kebanyakan kasus ditemukan bahwa tingkat investor attention yang tinggi berpengaruh ada tingkat likuiditas dan volatilitas yang tinggi. Kemudian, tren yang terjadi pada perusahaan Indonesia tidak memiliki pola yang khusus pada sektor tertentu. Sementara itu, model penelitian yang mengacu pada penelitian di Perancis ditemukan bahwa model untuk perusahaan di Indonesia perlu ditambahkan untuk menjelaskan likuiditas, karena kebanyakan variabel tidak signifikan mempengaruhi.

---

This study aims to analyze the influence of investor attention, using Google search volume (GSV) as the proxy, against the activity, liquidity, and volatility of capital markets in Indonesia, especially those included in LQ-45 from 2010 to 2016. The results obtained are in most cases found that the high level of investor attention affect high level of liquidity and volatility. Then, a trend that occurred in the Indonesian company does not have a particular pattern in a particular sector. Meanwhile, the research model which refers to a French study found that the model for companies in Indonesia need to be added to explain liquidity, since most variables are not significantly affecting."

"[ABSTRAKPenelitian ini bertujuan untuk menguji pengaruh perhatian investor terhadaplikuiditas dan volatilitas saham di ASEAN-5. Perhatian investor di proksikandengan menggunakan aplikasi Google Trends dan ditampilkan dalam bentukGoogle Search Volume (GSV). Pengujian dilakukan dengan menggunakananalisis regresi data panel dengan model Fixed Effect dan pemilihan panel optionSeemingly Unrelated Regression (SUR) selama periode 2010 sampai dengan2014. Hasil penelitian ini membuktikan bahwa perhatian investor berpengaruhsecara signifikan terhadap likuiditas serta volatilitas saham di ASEAN-5. Padaakhirnya penelitian ini mengantarkan kita pada sebuah konklusi dimana pencarianinformasi yang tinggi mampu menurunkan illikuiditas suatu saham dikarenakandapat mengurangi asimetri informasi yang terjadi antara informed investor danun-informed investor. Sehingga dengan meningkatnya likuiditas suatu sahammaka akan berimplikasi pada volatilitas saham yang diperdagangkan.

---

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

"ABSTRAKPenelitian ini menguji pengaruh tingkat undervaluation dan ketersediaan kasterhadap pelaksanaan kebijakan pembelian kembali saham dengan menggunakandata perusahaan terbuka Indonesia pada tahun 2009 ? 2015. Berbeda denganpenelitian sebelumnya, tingkat undervaluation pada penelitian ini diukurberdasarkan residual dari regresi persamaan Ohlson (1995) yang dilakukan perperiode dan secara panel. Hasil penelitian ini menujukkan bahwa tingkatundervaluation dan ketersediaan kas meningkatkan kemungkinan perusahaanmelakukan pembelian kembali saham. Selain itu, penelitian juga menemukanbahwa ketersediaan kas memperkuat pengaruh tingkat undervaluation terhadapkemungkinan perusahaan melakukan pembelian kembali saham. Penelitianselanjutnya disarankan untuk menghindari penggunaan langsung dari price to bookratio sebagai proksi terhadap tingkat undervaluation karena memiliki kesalahandalam pengukuran. Hasil penelitian ini dapat diterapkan dalam strategi investasidan pembuatan regulasi yang mendukung kebijakan pembelian kembali saham

---

ABSTRACTThis study investigates the effect of undervaluation and cash holdings on likelihoodof share repurchase decision using Indonesian listed companies? data from 2009 ?2015. Contrast to previous studies, this study measures the undervaluation usingresidual of Ohlson (1995) models based on yearly and panel regression. The resultof this study shows that undervaluation and cash holding increase the likelihood ofshare repurchase decision. Furthermore, this study also found that cash holdingstrengthen the effect of undervaluation on likelihood of share repurchase decision.The study suggests that future research avoid direct application of price to bookratio as a measure of undervaluation since it contains measurement error. Findingof this research can be applied in investment strategies and developing condusiveregulation for stock repurchase policy."

"Penelitian ini membahas bagaimana pengaruh volume perdagangan saham, frekuensi perdagangan saham, serta order imbalance terhadap volatilitas harga saham pada perusahaan yang tergabung dalam indeks LQ45 di Bursa Efek Indonesia. Periode penelitian dilakukan selama 4 tahun yaitu 2019-2022 dimana volatilitas harga saham di Indonesia sangat fluktuatif. Pendekatan yang digunakan adalah pendekatan kuantitatif dengan teknik purposive sampling pada 23 perusahaan yang tergabung pada indeks LQ45. Penelitian ini menggunakan data panel yaitu perpaduan data time series dan cross sectional. Data yang digunakan merupakan data harian yang kemudian dikonversi menjadi data bulanan yang selanjutnya dilakukan analisis regresi data panel. Hasil penelitian menunjukkan bahwa volatilitas harga saham dipegaruhi oleh volume perdagangan, frekuensi perdagangan, dan order imbalance secara serempak dengan nilai adjusted R-square sebesar 0,7807. Volume perdagangan berpengaruh positif dan signifikan terhadap volatilitas harga saham dengan koefisien regresi 0,00962 dan tingkat signifikansi 0,000. Frekuensi perdagangan saham berpengaruh positif dan signifikan terhadap volatilitas harga saham dengan nilai koefisien regresi 0,004917 dan tingkat signifikansi 0,0000. Order Imbalance berpengaruh negatif dan signifikan terhadap volatilitas harga saham dengan nilai koefisien regresi -0,005131 dan nilai signifikansi 0,0263.

---

This research discusses how the effect of

stock trading volume, stock trading frequency, and order imbalance on stock price volatility in companies that are members of the LQ45 index on the Indonesia Stock Exchange. The research period was carried out for 4 years, namely 2019-2022 where the volatility of stock prices in Indonesia was very volatile. The approach used is a quantitative approach with a purposive sampling technique in 23 companies that are members of the LQ45 index. This study uses panel data, namely a combination of time series and cross-sectional data. The data used is daily data which is then converted into monthly data which is then carried out by panel data regression analysis. The results showed that stock price volatility was simultaneously affected by trading volume, trading frequency, and order imbalance with an adjusted R-square value of 0.7807. Trading volume and trading frequency have a positive and significant effect on stock price volatility. Meanwhile, order imbalance has a negative and significant effect on stock price volatility."

"Penelitian ini bertujuan untuk menguji pengaruh dividen kas dan share repurchase terhadap market-to-book ratio dengan menggunakan pendekatan aset dan ekuitas pada perusahaan-perusahaan di Indonesia periode 2013-2018. Variabel independen yang digunakan adalah variabel cash dividend dummy antara perusahaan yang membayar dividen dan yang tidak membayar dividen. Variabel independen yang kedua adalah share repurchase dummy antara perusahaan yang melakukan share repurchase dan yang tidak melakukan share repurchase. Variabel kontrol dari penelitian ini berupa size, profitability, leverage, cash holding, tangibility, capital expenditure, research and development expense serta stock price volatility. Dengan menggunakan analisis data panel, penelitian ini kemudian menemukan bahwa dividen kas dan share repurchase memiliki hubungan negatif yang signifikan terhadap market to book ratio of asset dan equity. Temuan penelitian konsisten dengan pecking order theory.

---

The purpose of this study is to test for the effect of cash dividend and share repurchase to market-to-book ratio using both asset and equity approach on non-financial listed firms in Indonesia during the 2013-2018 period. There are two independent variables; first, the dummy variables between dividend payers and non payers and the other is dummy variable between share repurchasers and non repurchasers. This study also uses controlling variables such as size, profitability, leverage, cash holding, tangibility, capital expenditure, research and development expense, and stock volatility. Using data panel analysis, this study find that cash dividend and share repurchase has significant and negatively correlated to market to book ratio of asset and equity. Based on the finding, the results are consistent with pecking order theory."

"Skripsi ini membahas tentang pengaruh share repurchase terhadap kekayaan shareholder yang ditinjau dari ada tidaknya abnormal return dan faktor-faktor yang mempengaruhinya. Metode yang digunakan adalah event study. Selain itu, hal lain yang dibahas adalah tentang wealth transfer dari bondholder kepada shareholder. Berdasarkan penelitian ini, menunjukkan bahwa adanya abnormal return yang diperoleh oleh investor dan variabel free cashflow dan Cumulative excess return terbukti berpengaruh terhadap CAR secara signifikan. Selain itu, tidak ada wealth transfer antara bondholder dan shareholder.

---

This thesis is talking about the effect of share repurchase to shareholder’s wealth based on abnormal return and the factors that influence it. The Method that used in this thesis is event study. In addition, this thesis is also talking about wealth transfer from bondholder to shareholder. According to this result, there is an abnormal return in the market, and free cashflow and cumulative abnormal return’s variabel have an impact to CAR variable significantly. Beside that, there is no wealth transfer between bondholder and shareholder."