Determinants of the Industrial Manufacturing Stock’s Holding Period
Rima Islamiah(1*)(1) 
(*) Corresponding Author
Abstract
This study aims to identify the effect of Market Value (MV), Return on Asset (ROA), Earning per Share (EPS) and Bid-Ask Spread (BAS) over the holding period of manufacturing companies listed in Jakarta Islamic Index (JII). The data used here is period between 2014-2016. This research is a quantitative research. The data used in this research are the outstandingnumber of shares, the volume of stock transactions, closing price, ROA, and EPS. The technique for data analysis which will be used in this research is panel data regression test using REM model. The results of this study show that: 1). Market value have a significant positive effect on the manufacturing company stock’s holding period, which is shown by the value of sig t 0,0075. 2). ROA has no significant effect on on the manufacturing company stock’s holding period, which is shown by the value of sig t 0.1269. 3). EPS did not significantly affect the holding period of the manufacturing company's shares which was shown by the sig t value 0.7358. 4). The variable of Bid-Ask Spread does not significantly affect the holding period of the manufacturing company's stock which is shown by the value of sig t 0.1031. 5). MV, ROA, EPS, BAS according to test of model existence / F test is the existing model used with the value of F statistics 0.000397. 5). The value of Adjusted R2 of 19.85% indicates that variations in the variable of Holding Period can be explained by independent variables, and the remaining 80.65% of the variable of Holding Period are explained by other variables outside the research model.
Keywords
Full Text:
PDFReferences
Arma, V.Y., 2013. Faktor Penentu Holding Period Saham LQ-45 di Bursa Efek Indonesia. Journal of Business & Banking, 3(2), pp.201-212.
Burhanuddin, S., 2008. Pasar Modal Syariah. Yogyakarta: UII Press.
DSN-MUI. 2014. Himpunan Fatwa Keuangan Syariah. Jakarta: Erlangga.
Hermuningsih, S., 2012. Pengantar Pasar Modal Indonesia. Yogyakarta: UPP STIM YKPN.
Heykal, M., 2012. Tuntunan dan Aplikasi Investasi Syariah. Jakarta: Elex Media Komputindo.
Husnan, S., 1994. Manajemen Keuangan. Yogyakarta: BPFE.
Nahdiatul, A., 2017. Analisis Pengaruh Transaction Cost Terhadap Holding Period Saham-Saham LQ45 di Bursa Efek Indonesia (BEI). Jurnal Akuntansi: Kajian Ilmiah Akuntansi (JAK), 3(1).
Ningsih, T.R. and Haryono, N.A., 2017. Pengaruh Bid-Ask Spread, Market Value Dan Variance Return Terhadap Holding Period Saham Sektor Pertambangan Yang Listing Di Bursa Efek Indonesia (BEI) Tahun 2011-2015. Jurnal Ilmu Manajemen (JIM), 5(3).
Perangin-angin, N.S. and Syarief, F., 2013. Analisis Pengaruh Bid-ask Spread, Market Value dan Variance Return terhadap Holding Period Saham Sektor Pertambangan. Jurnal Ekonomi dan Keuangan, 1(3).
Rivai, V., Firmansyah, R. and Veithzal, A., Rizqullah. 2010. Islamic Financial Management. (Teori, Konsep, Aplikasi). Bogor: Ghalila Indonesia.
RIyanto, A. and Hutomo, Y.S., 2008. Analasisi Pengaruh Perubahan Market Value dan Laba Per Lembar Saham terhadap Perubahan Holding Period. Saham, KINERJA 12(2), 197-205
Sari, E.W. and Abundati, N., 2015. Determinan Penentu Holding Period pada Indeks LQ45. E-Jurnal Manajemen Unud vol, 4, pp.4529-4558.
Sukirno, S. 2005. Mikro Ekonomi Teori Pengantar. Jakarta: PT Raja Grafindo Persada.
_________ 1997. Pengantar Teori Mikro Ekonomi Edisi 2. Jakarta: Grafindo Persada.
Triyono, F., 'Unnurain I., Sutarto. and Rosyadi. I., 2005. Pengantar Teori Investasi dan Pasar Modal. Surakarta: UMS.
Utami, N.L.A.Y. and Sedana, I.B.P., 2016. Pengaruh Spread, Market Value, Variance Return dan Dividend Payout Ratio terhadap Holding Period Saham. Matrik: Jurnal Manajemen, Strategi Bisnis dan Kewirausahaan, pp.168-178.
Umam, K., 2013. Pasar Modal Syariah & Praktek Pasar Modal Syariah. Bandung: Pustaka Setia.
Article Metrics
Abstract view(s): 827 time(s)PDF: 526 time(s)
Refbacks
- There are currently no refbacks.