PENGARUH BID-ASK SPREAD, MARKET VALUE, KEBIJAKAN DIVIDEN, DAN VOLUME PERDAGANGAN TERHADAP HOLDING PERIOD

Wila Wildayani; Herma Wiharno; Siti Nuke Nurfatimah; Chintia Fitriani

doi:10.25134/jrka.v9i2.8823

Wila Wildayani Program Studi Akuntansi, Universitas Kuningan
Herma Wiharno Program Studi Akuntansi, Universitas Kuningan
Siti Nuke Nurfatimah Program Studi Akuntansi, Universitas Kuningan
Chintia Fitriani Program Studi Akuntansi, Universitas Kuningan

DOI: https://doi.org/10.25134/jrka.v9i2.8823

Abstract

The purpose of this study is to examine and analyze the effect of Bid-Ask Spread, Market Value, Dividend Policy, and Trading Volume on the Holding Period of Tourism & Recreation Companies listed on the Indonesia Stock Exchange for the 2017-2021 period. Sample selection using quota sampling technique and samples that meet the criteria of 29 companies. Data collection techniques were carried out using non-participant observation methods. The research method used is descriptive verifiative. The hypothesis was tested using panel data regression analysis technique with E-Views per 9.0. The model selection test in research is a fixed effect model. The results of the study are known that bid-ask spread has a significant positive effect on the holding period, market value has a significant positive effect on the holding period, Dividend policy with dividend payout ratio indicator has a significant positive effect on the holding period, and trading volume has a significant negative effect on the holding period

Keywords : Holding Period, Bid-Ask Spread, Market Value, Dividend Policy, Trading Volume

References

Amihud, Y., & Mendelson, H. (1986). Asset Pricing And The Bid-Ask Spread. Journal of Financial Economics, 17, 223–249.

Andriyani, I., Noviantoro, D., & Kurniawati, D. (2021). Analisis Pengaruh Bid Ask Spread, Market Value dan Earning Per Share Terhadap Holding Period Saham Perusahaan LQ45 di Bursa Efek Indonesia. Jurnal Aplikasi Manajemen Dan Binis, 2(1), 2723–6056. https://jurnal.polsri.ac.id/index.php/JAMB

Atkins, & Dyl. (1997). Transaction Costs and Holding Period for Common Stocks. The Journal of Finance, III, 309–325.

Aziza, F. (2019). Analisis Faktor-Faktor Yang Mempengaruhi Holding Period Pada Indeks Lq45 Periode 2013-2017. Jurnal Manajemen, 2(2), 1–13.

Caraka, Y. G. (2017). Hubungan Bid-Ask Spread, Market Value, dan

Kebijakan Dividen dengan Holding Period. 1–14.

Estiasih, S. P., Prihatiningsih, E., & Fatmawati, Y. (2020). Dividend Payout Ratio , Earning Per Share , Debt To Equity Ratio Terhadap Harga Saham pada Perusahaan LQ45. 21(1), 205–212.

Fathani, N., & Oktaviana, U. K. (2018). Determinan Holding Period Jakarta Islamic Index. Jurnal Keuangan Dan Perbankan Syariah, 6(2), 101–111.

Fatrin, T. N., Ardana, Y., & Wulandari. (2018). Faktor-Faktor Yang Mempengaruhi Holding Period. BENEFIT Jurnal Manajemen Dan Bisnis, 3, 89–97.

Jogiyanto, H. (2013). Teori Portofolio dan Analisis Investasi. BPFE.

Kurniawan, M., Sisdianto, E., & Mustofa, U. A. (2022). Pengaruh Bid-Ask Spread , Market Value dan Dividend Payout Ratio Terhadap Holding Period pada Perusahaan Jakarta Islamic Index Periode 2017-2019. Jurnal Ilmiah Ekonomi Islam, 8(01), 607–617. https://jurnal.stie-aas.ac.id/index.php/jie

Lubis, B. L., Rifai, A., & Harori, M. I. (2020). Pengaruh Market Value , Variance Return , Dan Volume Perdagangan Terhadap Periode Kepemilikan Saham. Jurnal Perspektif Bisnis, 3, 11–20.

Mardhiah, A. (2015). Holding Period Saham Syariah Antara Investor Dan Trader. Jurnal Perspektif Ekonomi Darussalam, 1(1), 44–54. https://doi.org/10.24815/jped.v1i1.6519

Murtadho, N. (2019). Pengaruh Bid-Ask Spread, Market Value, dan Earning Per Share Terhadap Holding Period Saham.

Mustakim, F. S., Maslichah, & Junaidi. (2018). Analisis Pengaruh Bid-Ask Spread, Market Value, Variance Return dan Dividend Payout Ratio terhadap Holding Period Saham Biasa. 07(08), 14–27.

Putri, T. E., Icih, & Halimatusyadiah, N. (2021). The Effect Of Bid-Ask Spread , Market Value , Variance Return , Dividend Payout Ratio And Inflation On Holding Period (Study On LQ 45 And Non LQ 45 Stocks On The IDX For The Period). Jurnal Sutaatmadja, 05, 118–135.

Rahayu, D. S., & Saefullah, K. (2021). Analisis likuiditas , return , bid ask spread saham , serta pengaruhnya terhadap holding period. 18(1), 82–95.

Rakhmawati, A. (2020). Penentuan Holding Period Pada Pasar Modal Syariah dalam Perspektif Maslahah. https://idr.uin-antasari.ac.id/15887/

Santoso, E. B. (2008). Analisis Pengaruh Transaction Cost Terhadap Holding Period Saham Biasa. 4, 116–131.

Sirait, Y. D. G., & Yulianti, E. (2021). Faktor yang Mempengaruhi Holding Period Saham pada Indeks Kompas 100 Tahun 2015-2018. Jurnal Manajemen Dan Bisnis, 15(November 2021), 110–124.

Sitompul, T. W. (2021). The Effect of Bid Ask Spread , Market Value and Risk Of Return on the Holding Period of LQ45 Stocks on the Indonesia Stock Exchange Journal of Management Science ( JMAS ). Journal of Management Science (JMAS), 4(2), 53–63. https://iocscience.org/ejournal/index.php/JMAS

Subaida, I., & Sari, R. K. (2019). Pengaruh Bid-Ask Spread, Varians Return, Volume Perdagangan, dan Harga Saham terhadap Holding Period Saham. 3, 11–22.

Suryarini, T., Solikhah, B., & Sakitri, W. (2022). Pengaruh Market Value , Earnings Per Share , Dividend Payout Ratio Terhadap Stocks Holding Period. July 2021, 243–249.

Susetyo, A., & Niati, F. (2018). Pengaruh Bid-Ask Spread , Market Value Dan Variance Return Terhadap Holding Period Saham. Jurnal Ekonomi Dan Bisnis, 21, 1–12.

Syifa, K., & Susetyo, A. (2020). Pengaruh Bid-Ask Spread , Market Value dan Risk of Return Terhadap Holding Period Saham. Jurnal Ilmiah Mahasiswa Manajemen, Bisnis Dan Akuntansi, 2(3), 440–449.

Tandelilin, E. (2001). Analisis Investasi dan Manajemen Portofolio. Penerbit Erlangga.

Tandelilin, E. (2010). Analisis Investasi dan Manajemen Portifolio. BPFE.

https://sikapiuangmu.ojk.go.id/FrontEnd/CMS/Article/110