Analisis Perbandingan Trading Volume Activity (TVA) Dan Abnormal Return (AR) Sebelum Dan Sesudah Stock Split (Studi Pada Perusahaan Stock Split Yang Terdaftar Di Bursa Efek Indonesia Periode 2018-2021)

Abstract

Abstract

The purpose of this study was to test and obtain empirical evidence regarding whether a stock split has a significant effect on trading volume activity and abnormal returns seen from the 5 days before and 5 days after the stock split. For the population in this study there were 31 companies that carried out stock splits listed on the IDX in 2018-2021, while for a sample of 30 companies the sample selection technique used purposive sampling. After testing the hypothesis using the Wilcoxon signed rank test it was found that there were differences in trading volume activity (TVA) both seen in the period before and after the stock split event, as well as with the abnormal return (AR) that there were differences also seen in the period before and afther the stock split event.

Keywords : Stock Split, Trading Volume Activity, Abnormal Return, Event Study