PENGARUH HARGA SAHAM DAN FREKUENSI PERDAGANGAN SAHAM TERHADAP PROBABILITAS PERUSAHAAN UNTUK MELAKUKAN STOCK SPLIT

This research aims to obtain empirical evidence about the share price has positive influence on the probability of the company to conduct a stock split and stock trading frequency that negatively affect the probability of the company to conduct a stock split and whether there is any difference in the frequency of stock trading before and after the stock split. Samples are manufacturing companies listed in Indonesia Stock Exchange and publish financial reports from 2006 to 2008 period. This study sample was purposive sampling method to sample conditional on certain criteria determined by sampling or judgments. Data collected by tracing the JSX Statistic publications report Quarterly, Annual JSX, the Internet, quarterly and annual reports on manufacturing companies selected as samples. Data obtained as many as 30 manufacturing companies and analyzed using logistic regression with the aid of SPSS 17.00 software. The results showed that the results of logistic regression to variable stock price Wald statistic obtained value of 0.375 (sig> 0.05) and beta is positive for 0 <017. This means that the stock price variable has no significant effect of stock split events. The result of logistic regression on stock trading frequency variable obtained significance value of 0.003 Wald (sig <0.05) and beta is positive. This means that the variable frequency of positive effect on stock trading company doing event probability stock split. Results of different test frequencies before and after trading in shares of stock split by using paired sample statistics obtained t value of -2.431 with significance of .038 (sig <0.05). So that it can be said that there were statistically significant different frequency of stock trading before and after the stock split event.
Key words: Stock split, Stock price and stock trading frequency