Kinerja Keuangan dan Harga Saham sebagai Determinan Keputusan Stock Split: Studi Empiris Terhadap Perusahaan Terdaftar di BEJ  

Oleh:

Alteza, Muniya

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI
Dalam koleksi: Manajemen Usahawan Indonesia vol. 37 no. 1 (Jan. 2008), page 14-19.
Topik: Stock Split; Signaling Theory; Trading Range Theory

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: MM15 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

This research examined the corporate financial performance and share overprices as determinants of stock split decision. The stock split phenomenon was explained under signaling theory and trading range theory.This research used earning after tax, earning per share and earning after tax growth as proxies of financial performance while price to book value and price earning ratio used as proxies for share overprices. Thirty four splitting firms and thirty four non splitting firms listed in BEJ during 2003-2006 periods are selected as the samples. Logistic regression model was applied to test the hypotheses.The results of this study indicated that financial performance (proxied by earning per share and earning after tax growth) and share overprice (proxied by price to book value and price earning ratio) affects the probability of stock split decision.Better financial performance and higher share overprice lead the firms to do stock split.

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