The Effect Of Stock Price, Share Return, Share Trading Volume, And Return Variant On Bid-Ask Spread On Textile And Garment Companies Listed On The Indonesia Stock Exchange, 2019-2020

  • Heny Sidanti Management Study Program PGRI Madiun University
  • Annisa Istikhomah Management Study Program PGRI Madiun University
Keywords: Stock price, stock return, stock trading volume, return variance, bid-ask spread

Abstract

This study aims to obtain empirical evidence of the effect of Stock Price, Stock Return, Stock Trading Volume, and Return Variant on the Bid-Ask Spread of Stocks in Textile and Garment Companies Listed in Indonesia Stock Exchange in 2019-2020. The stock price used is the stock price recorded at the end of each closing period (closing price), stock returns are measured using the difference between returns on the research day and before the study divided by returns on the day before the study, stock trading volume is measured by the number of shares traded at the time of the study. t is divided by the number of shares outstanding at the time of the study, the variance of stock returns is measured using the standard deviation, and the bid-ask spread is measured by the difference between the selling price and the purchase price divided by the difference between the selling price and the purchase price divided by two. The population in this study is 17 textile and garment companies listed on the IDX. Based on the purposive sampling method, a sample of 16 companies was obtained with 309 data. This research data is obtained from the company's monthly data from 2019 to 2020. The results of the analysis show that stock prices and stock trading volumes affect the bid-ask spread, while stock returns and return variances do not affect the bid-ask spread. Meanwhile, simultaneously, stock prices, stock returns, stock trading volume, and return variance affect the bid-ask spread. This research data is obtained from the company's monthly data from 2019 to 2020. The results of the analysis show that stock prices and stock trading volume affect the bid-ask spread, while stock returns and return variances do not affect the bid-ask spread. Meanwhile, simultaneously, stock prices, stock returns, stock trading volume, and return variance affect the bid-ask spread. This research data is obtained from the company's monthly data from 2019 to 2020. The results of the analysis show that stock prices and stock trading volumes affect the bid-ask spread, while stock returns and return variances do not affect the bid-ask spread. Meanwhile, simultaneously, stock prices, stock returns, stock trading volume, and return variance affect the bid-ask spread.

Downloads

Download data is not yet available.

References

Anggraini, Viri., Hartini, Titin., & Wijaya, Trisnadi. (2013). Effect of Stock Price, Trading Volume, and Company Size on Bid-Ask Spread on Food and Beverage Companies Listed on the Indonesia Stock Exchange.
Anugrah, Muhammad, Perdana., & Titik, Farida, Kristanti. (2014). The Effect of Variant Return, Stock Price, Trading Volume, Earning Per Share on the Bid-Ask Spread of Sharia Stocks (Empirical Study on Companies Listed on the Jakarta Islamic Index 2010-2012).
Aprilia, Zelda. (2015). Factors Affecting the Bid-Ask Spread of LQ-45 Stocks on the Indonesia Stock Exchange.
Bidara, Leoni, Rasyidi., & Murdayanti, Yunika., (2013). The Effect of Asset Size, Closing Price, Liquidity, Return Variant, and Stock Trading Volume on Bid-Ask Spread on Real Estate and Property Companies Listed on the IDX.
Chatijah, Siti. (2010). Analysis of the Effect of Price, Trading Volume, Return, Trading Frequency, and Stock Price Volatility, on the Bid-Ask Spread of Companies Conducting Stock, Splits for the 2004-2008 Period.
Bi, Sri, Ari, Ambarwati. (2009). The Effect of Stock Returns, Stock Trading Volumes, and Stock Return Variants on the Bid-Ask Spread of Stocks in Manufacturing Companies Included in the Lq 45 Index for the Period 2003-2005.
Fahmi, Irham. (2015). Introduction to Portfolio Theory and Investment Analysis. Bandung; Alphabet.
Ghozali, priest. (2016). Application of Multivariate Analysis (8th ed). Semarang ; Diponegoro University publishing body.
Gusti, I. Ayu, Mas, Widhyawati., & Eka, IGA Damayanthi. (2015). Effect of Trading Volume, Market Value, and Return Variance on Bid-Ask Spread.
Halim, Abdul. (2015). Investment Analysis And Its Application. Jakarta; Salemba Four.
Hartono, Jogiyanto. (2013). Portfolio Theory and Investment Analysis. Yogyakarta ; BPFE.
http://www.bareksa.com/id/text/2017/04/03/broker-ini-always-dibalik-transaksi-saham-sril-saat-turun-atau-naik-tajam/15239/news.
Made, Ni, Wahyuliantini., & Agung, Anak, Gede, Suarjaya. (2015). The Effect of Stock Price, Stock Trading Volume, And Stock Return Volatility on Bid-Ask Spread.
Marlena, SE., MM. & Maya, Malinda (2011). Introduction to Capital Markets. Bandung: Andi.
Napitupulu, Veronica. & Syahyunan. (2013). The Effect of Stock Return, Trading Volume, and Stock Price Volatility on the Bid Asks Spread in Companies Conducting Stock Splits on the Indonesia Stock Exchange.
Nurul, Lulu, Istanti. (2009). Effect of Stock Price, Trading Volume Activity and Stock Risk on Bid-Ask Spread (Study on LQ-45 Company in Jakarta Stock Exchange).
Purwani, Ratih. (2008). The Effect of Stock Return, Stock Trading Volume, and Stock Trading Frequency on the Bid-Ask Spread in Companies Conducting Stock Splits on the Indonesia Stock Exchange.
Rusdin. (2008). Capital market. Bandung; Alphabet.
Shobriati, Ikrima., Darminto. & Wi, MG, Endang. (2013). The Effect of Stock Prices, Stock Trading Volumes and Return Variants on Bid-Ask Spreads Around the Announcement Stock Split (Study on Companies Listed on the Indonesia Stock Exchange from 2005 to 2011).
Sugiyono. (2015). Quantitative research methods and R & D. Bandung; Alphabet.
Supardi. (2010). Analysis of the Effect of Stock Return and Stock Trading Volume on Bid-Ask Spread Pre and Post Announcement of Financial Statements at LQ 45.
Published
2021-07-23
How to Cite
Heny Sidanti, & Annisa Istikhomah. (2021). The Effect Of Stock Price, Share Return, Share Trading Volume, And Return Variant On Bid-Ask Spread On Textile And Garment Companies Listed On The Indonesia Stock Exchange, 2019-2020. International Journal of Science, Technology & Management, 2(4), 1357-1366. https://doi.org/10.46729/ijstm.v2i4.269
Section
Articles