PENGARUH VARIABEL AKUNTASI, VARIABEL PASAR DAN ARUS KAS OPERASI KUARTALAN TERHADAP BID-ASK SPREAD PADA INDUSTRI MANUFAKTUR DI BURSA EFEK JAKARTA

The study is aimed to present empirical evidences on the influence of accounting variables (asset growth, asset size, leverage, and liquidity), market variable (earning variability, return share, and trade volume), and operational cash flow of bid-ask spread on manufacturer industry registered in Jakarta Stock Exchange, both partially and simultaneously. The research employs 14 companies, including mantfacturer industry, which has issued themselves to the public (go public) as the samples. The samples are chosen using purposive sampling method and employing multiple linear regression analyses. The research was conducted from 2003 to 2005. The firding shows that 2 out of 9 hypotheses are disproved, while other 7 are proved. The hypotheses which are disproved are the hypothesis four (114) which states that there is a significantly negative influence between liquidity and bid-ask spread, and hypothesis eight (H4) which states that there is a significantly negative influence between operational cash flow and bid-ask spread.