Pengaruh Harga Saham dan Volume Perdagangan Saham Terhadap Likuiditas Saham pada Perusahaan Sebelum dan Setelah Melakukan Stock Split di Bursa Efek Indonesia
LAMPIRAN
LAMPIRAN 1
Daftar Sampel Perusahaan
No
Kode
Nama Perusahaan
1
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
DKFT
KREN
KLBF
ACES
JPFA
IDKM
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
CMPP
MLBI
Bank Rakyat Indonesia (Persero) Tbk
London Sumatera Plantation Tbk
Bank Tabungan Pensiunan Nasional Tbk
Intraco Penta Tbk
Pan Brothers Tbk
Malindo Feedmill Tbk
Astra Otopart Tbk
Surya Semesta Internusa Tbk
Jasuindo Tiga Perkasa Tbk
Metro Realty Tbk
Petrosea Tbk
Pakuwon Jati Tbk
Astra International Tbk
Indomobil Sukses International Tbk
Indosring Tbk
Modern International Tbk
Central Omega Resources Tbk
Kresna Graha Sekurindo Tbk
Kalbe Farma Tbk
Ace Hardwarea Indonesia Tbk
Japfa Comfeed Tbk
Indosiar Karya Media Tbk
Summaraecon Agung Tbk
Arwana Citra Mulia Tbk
Sarana Menara Nusantara Tbk
Sumber Alfaria Trijaya Tbk
Jaya Real Property Tbk
Telekomunikasi Indonesia Tbk
Sepatu Bata Tbk
Jaya Konstruksi Tbk
Alumindo Light Metal Industry Tbk
Indal Aluminium Industry Tbk
Surya Toto Indonesia
Centris Multipersada Pratama Tbk
Multi Bintang Indonesia Tbk
Kriteria
2 3
x
x
Sampel
S1
S2
S3
S4
S5
S6
S7
S8
S9
S10
S11
S12
S13
S14
S15
S16
S17
S18
S19
S20
S21
S22
S23
S24
S25
S26
S27
S28
S29
S30
S31
S32
S33
Universitas Sumatera Utara
LAMPIRAN 2
Daftar Harga Saham 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
H-4
H-3
H-2
H-1
10,300.00
10,950.00
10,800.00
3,825.00
1,598.64
5,350.00
14,960.00
1,350.00
1,480.00
3,000.00
43,250.00
810.00
65,200.00
16,050.00
4,047.99
2,872.25
920.00
1,630.00
4,550.00
6,900.00
8,950.00
2,275.00
3,250.00
28,000.00
6,200.00
5,000.00
10,950.00
85,000.00
2,550.00
570.00
580.00
6,860.52
1,250,000.00
10,600.00
11,000.00
10,750.00
3,875.00
1,721.94
5,350.00
14,960.00
1,360.00
1,490.00
3,000.00
43,500.00
800.00
66,000.00
15,950.00
4,121.60
2,895.60
910.00
1,730.00
4,575.00
7,000.00
8,850.00
2,175.00
3,375.00
28,000.00
6,300.00
5,000.00
10,650.00
85,000.00
2,550.00
580.00
580.00
6,860.52
1,250,000.00
10,350.00
10,900.00
10,900.00
3,875.00
1,700.68
5,300.00
15,247.70
1,350.00
1,490.00
3,000.00
45,000.00
810.00
64,300.00
15,050.00
4,047.99
2,825.55
920.00
2,000.00
4,575.00
6,950.00
8,800.00
2,100.00
3,250.00
28,000.00
6,300.00
5,000.00
10,750.00
85,000.00
2,500.00
580.00
580.00
6,985.26
1,250,000.00
9,800.00
10,800.00
11,750.00
3,850.00
1,683.67
5,300.00
15,631.30
1,350.00
1,490.00
3,000.00
44,900.00
800.00
63,350.00
15,000.00
4,047.99
2,942.31
950.00
2,000.00
4,700.00
6,900.00
9,150.00
2,275.00
3,250.00
28,000.00
6,350.00
4,950.00
10,650.00
85,000.00
2,500.00
550.00
630.00
7,085.06
1,300,000.00
9,300.00
10,500.00
11,650.00
3,850.00
1,641.16
5,350.00
15,918.95
1,340.00
1,450.00
3,000.00
44,000.00
810.00
62,400.00
16,000.00
4,195.21
2,848.90
930.00
1,930.00
4,800.00
7,000.00
9,400.00
2,300.00
3,300.00
27,850.00
6,350.00
4,950.00
10,100.00
85,000.00
2,450.00
560.00
560.00
3,991.58
12,500.00
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 3
Daftar Harga Saham 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
5,000.00
2,150.00
2,550.00
770.00
403.91
1,030.00
3,116.67
335.00
300.00
750.00
4,575.00
210.00
6,950.00
7,550.00
3,071.60
616.48
225.00
360.00
960.00
740.00
1,980.00
1,290.00
820.00
2,775.00
640.00
980.00
2,225.00
1,320.00
510.00
316.00
314.00
3,861.85
11,800.00
H2
5,100.00
2,225.00
2,525.00
760.00
382.65
1,020.00
3,092.69
330.00
295.00
750.00
4,475.00
205.00
6,800.00
7,950.00
2,944.00
625.82
225.00
340.00
980.00
740.00
1,930.00
1,280.00
800.00
2,800.00
640.00
980.00
2,200.00
1,650.00
530.00
315.00
304.00
3,712.17
11,250.00
H3
5,150.00
2,250.00
2,500.00
740.00
391.16
1,020.00
4,075.64
330.00
280.00
710.00
4,400.00
205.00
6,650.00
7,800.00
2,815.20
644.50
225.00
350.00
980.00
760.00
1,910.00
1,190.00
780.00
2,825.00
650.00
1,000.00
2,150.00
1,350.00
530.00
317.00
290.00
3,522.57
11,700.00
H4
5,050.00
2,275.00
2,450.00
730.00
399.66
1,030.00
4,003.72
350.00
280.00
710.00
4,250.00
205.00
6,600.00
7,800.00
2,778.40
644.50
215.00
350.00
970.00
720.00
1,940.00
1,120.00
790.00
2,975.00
650.00
1,000.00
2,200.00
1,200.00
530.00
300.00
293.00
3,582.44
11,750.00
H5
5,000.00
2,350.00
2,500.00
710.00
403.91
1,020.00
4,027.69
345.00
285.00
710.00
4,225.00
200.00
6,650.00
7,400.00
2,815.20
653.85
220.00
345.00
980.00
710.00
1,940.00
1,100.00
730.00
2,825.00
640.00
950.00
2,100.00
1,220.00
540.00
300.00
290.00
3,742.10
11,700.00
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 4
Daftar Volume Perdagangan Saham 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
H-4
H-3
H-2
H-1
55,697,000
35,457,500
12,500
51,940,000
7,874,400
6,317,500
49,500
24,666,000
11,767,500
6,000
1,775,000
65,280,000
26,780,000
2,823,000
666,900
29,400
2,014,000
15,965,000
107,795,000
5,400,000
6,125,000
31,029,000
2,244,000
5,000
25,000
132,500
202,245,000
50,000
3,707,500
11,200
29,200
9,800
20,000
47,598,000
20,882,500
887,500
56,495,000
63,313,400
6,250,000
99,000
23,768,000
18,412,500
6,000
1,285,000
22,988,000
35,245,000
2,362,000
729,900
765,400
1,544,000
69,792,500
51,995,000
4,555,000
2,492,500
57,718,000
13,480,000
380,000
40,285,000
30,000
145,652,500
50,000
3,707,500
2,800
16,400
22,600
20,000
43,309,000
20,865,000
1,075,000
45,747,500
23,908,000
5,657,500
109,400
26,426,000
16,542,500
6,000
2,235,000
79,284,000
63,410,000
2,512,000
802,400
1,763,700
2,826,000
146,262,500
30,827,500
2,400,000
1,220,000
39,499,000
11,134,000
1,090,000
1,320,000
2,500
84,685,000
50,000
2,500
400
24,200
4,600
200,000
120,914,000
38,205,000
5,950,000
27,297,500
5,774,100
4,917,500
649,100
13,440,000
6,350,000
6,000
2,345,000
40,736,000
45,595,000
2,281,000
247,200
1,820,000
2,458,000
76,467,500
50,510,000
4,270,000
6,280,000
27,883,000
1,580,000
1,090,000
15,000
35,000
81,722,500
50,000
5,000
160,000
200
40,200
220,000
181,789,000
30,577,500
3,162,500
17,337,500
21,873,600
7,520,000
1,136,600
29,880,000
10,487,500
6,000
700,000
47,016,000
44,140,000
3,278,000
2,141,100
2,250,900
1,836,000
38,102,500
48,042,500
12,360,000
7,060,000
29,222,000
2,366,000
120,000
50,000
860,000
128,692,500
50,000
2,500
306,200
41,000
78,900
430,000
Sumber: www.finance .yahoo.com
Universitas Sumatera Utara
LAMPIRAN 5
Daftar Volume perdagangan 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
H2
H3
H4
H5
53,144,500
7,579,000
2,603,500
15,347,000
2,185,500
4,085,500
225,200
18,940,500
10,224,000
1,500
3,849,500
40,518,000
41,969,000
1,362,500
97,600
1,001,000
472,500
16,655,500
32,860,000
12,719,500
11,141,500
16,021,000
3,517,000
483,000
72,000
500
105,664,500
266,000
3,636,000
200
3,700
1,200
41,800
62,344,000
14,399,000
1,726,000
22,160,000
7,235,300
4,898,000
320,600
26,205,000
6,249,500
1,500
3,602,500
4,724,000
45,218,000
3,345,000
349,000
221,600
296,500
19,042,000
63,946,500
4,005,500
3,843,000
11,487,000
4,233,500
21,500
31,000
564,500
109,446,500
206,500
3,045,000
600
125,500
11,600
93,100
38,167,500
13,142,500
732,500
24,959,000
6,740,200
3,429,500
1,325,800
31,197,000
15,739,000
2,000
7,022,000
9,423,000
14,550,500
3,606,500
476,300
14,767,700
189,000
22,314,500
28,477,000
4,841,000
2,054,500
16,468,000
4,209,500
145,500
379,000
134,500
63,655,500
1,776,500
809,000
100
114,100
30,800
180,500
45,738,000
28,791,500
653,500
13,585,000
14,534,700
7,436,000
1,660,100
141,652,000
5,412,000
2,000
4,195,000
11,265,500
43,667,500
3,102,500
1,252,500
1,675,400
404,500
16,787,000
24,280,000
19,426,500
4,134,000
35,484,000
5,623,000
228,000
180,000
24,500
50,207,000
958,500
194,000
300
9,200
9,900
72,900
25,265,000
24,748,500
330,000
17,677,500
3,694,400
4,969,500
824,300
41,668,000
4,818,000
2,000
4,498,500
12,397,000
17,595,000
2,154,500
202,500
2,610,000
239,500
9,685,000
20,082,500
12,754,000
3,670,000
11,952,000
28,285,500
22,000
1,301,000
3,500
106,755,500
504,500
584,500
500
27,100
9,800
60,400
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 6
Jumlah Saham Beredar dari Sampel Perusahaan Pada Periode Penelitian
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
2011
2012
2013
2014
24,422,470,380
6,822,863,965
5,606,980,970
2,160,029,220
3,063,861,660
1,695,000,000
3,855,786,400
4,705,249,440
1,769,680,000
232,848,000
1,008,605,000
48,159,602,400
40,483,553,140
2,765,278,412
315,000,000
4,158,816,363
3,169,370,290
5,612,355,730
50,780,072,110
17,150,000,000
10,660,522,910
14,426,781,680
7,341,430,976
10,202,925,000
37,749,547,000
13,750,000,000
100,799,996,400
1,300,000,000
16,308,519,860
616,000,000
316,800,000
990,720,000
2,107,000,000
Sumber: www.sahamok.com
Universitas Sumatera Utara
LAMPIRAN 7
Trading Volume Activity 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
H-4
H-3
H-2
H-1
0.002280564
0.005196865
0.000002229
0.024045971
0.002570090
0.003727139
0.000012838
0.005242230
0.006649507
0.000025768
0.001759856
0.001355493
0.000661503
0.001020874
0.002117143
0.000007069
0.000635457
0.002844617
0.002122782
0.000314869
0.000574550
0.002150792
0.000305662
0.000000490
0.000000662
0.000009636
0.002006399
0.000038462
0.000227335
0.000018182
0.000092172
0.000009892
0.000009492
0.001948943
0.003060665
0.000158285
0.026154739
0.020664575
0.003687316
0.000025676
0.005051379
0.010404423
0.000025768
0.001274037
0.000477330
0.000870600
0.000854164
0.002317143
0.000184043
0.000487163
0.012435509
0.001023925
0.000265598
0.000233807
0.004000754
0.001836154
0.000037244
0.001067165
0.000002182
0.001444965
0.000038462
0.000227335
0.000004545
0.000051768
0.000022812
0.000009492
0.001773326
0.003058100
0.000191725
0.021179112
0.007803224
0.003337758
0.000028373
0.005616280
0.009347735
0.000025768
0.002215932
0.001646276
0.001566315
0.000908408
0.002547302
0.000424087
0.000891660
0.026060804
0.000607079
0.000139942
0.000114441
0.002737894
0.001516598
0.000106832
0.000034967
0.000000182
0.000840129
0.000038462
0.000000153
0.000000649
0.000076389
0.000004643
0.000094922
0.004950932
0.005599555
0.001061177
0.012637561
0.001884582
0.002901180
0.000168344
0.002856384
0.003588219
0.000025768
0.002324993
0.000845854
0.001126260
0.000824872
0.000784762
0.000437625
0.000775548
0.013624849
0.000994682
0.000248980
0.000589089
0.001932725
0.000215217
0.000106832
0.000000397
0.000002545
0.000810739
0.000038462
0.000000307
0.000259740
0.000000631
0.000040577
0.000104414
0.007443514
0.004481622
0.000564029
0.008026512
0.007139226
0.004436578
0.000294778
0.006350354
0.005926213
0.000025768
0.000694028
0.000976254
0.001090319
0.001185414
0.006797143
0.000541236
0.000579295
0.006789039
0.000946090
0.000720700
0.000662256
0.002025538
0.000322280
0.000011761
0.000001325
0.000062545
0.001276711
0.000038462
0.000000153
0.000497078
0.000129419
0.000079639
0.000204082
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 8
Trading Volume Activity 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
0.002176049
0.001110824
0.000464332
0.007104996
0.000713315
0.002410324
0.000058406
0.004025398
0.005777316
0.000006442
0.003816658
0.000841328
0.001036693
0.000492717
0.000309841
0.000240693
0.000149083
0.002967649
0.000647104
0.000741662
0.001045118
0.001110504
0.000479062
0.000047339
0.000001907
0.000000036
0.001048259
0.000204615
0.000222951
0.000000325
0.000011679
0.000001211
0.000019839
H2
H3
H4
H5
0.002552731
0.002110404
0.000307831
0.010259120
0.002361497
0.002889676
0.000083148
0.005569312
0.003531429
0.000006442
0.003571765
0.000098091
0.001116947
0.001209643
0.001107937
0.000053284
0.000093552
0.003392871
0.001259283
0.000233557
0.000360489
0.000796227
0.000576659
0.000002107
0.000000821
0.000041055
0.001085779
0.000158846
0.000186712
0.000000974
0.000396149
0.000011709
0.000044186
0.001562803
0.001926244
0.000130641
0.011554936
0.002199904
0.002023304
0.000343847
0.006630254
0.008893698
0.000008589
0.006962091
0.000195662
0.000359418
0.001304209
0.001512063
0.003550938
0.000059633
0.003975960
0.000560791
0.000282274
0.000192720
0.001141488
0.000573390
0.000014261
0.000010040
0.000009782
0.000631503
0.001366538
0.000049606
0.000000162
0.000360164
0.000031089
0.000085667
0.001872784
0.004219855
0.000116551
0.006289267
0.004743915
0.004387021
0.000430548
0.030105099
0.003058180
0.000008589
0.004159210
0.000233920
0.001078648
0.001121949
0.003976190
0.000402855
0.000127628
0.002991079
0.000478140
0.001132741
0.000387786
0.002459592
0.000765927
0.000022347
0.000004768
0.000001782
0.000498085
0.000737308
0.000011896
0.000000487
0.000029040
0.000009993
0.000034599
0.001034498
0.003627289
0.000058855
0.008183917
0.001205799
0.002931858
0.000213783
0.008855641
0.002722526
0.000008589
0.004460121
0.000257415
0.000434621
0.000779126
0.000642857
0.000627582
0.000075567
0.001725657
0.000395480
0.000743673
0.000344261
0.000828459
0.003852859
0.000002156
0.000034464
0.000000255
0.001059082
0.000388077
0.000035840
0.000000812
0.000085543
0.000009892
0.000028666
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 9
Average Trading Volume Activity
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
Sebelum Stock Split (H-5 – H-1)
0.0036794558
0.0042793613
0.0003954891
0.0184087787
0.0080123396
0.0036179941
0.0001060017
0.0050233256
0.0071832196
0.0000257679
0.0016537693
0.0010602413
0.0010629996
0.0009587461
0.0029126984
0.0003188119
0.0006738247
0.0123509634
0.0011389113
0.0003380175
0.0004348286
0.0025695405
0.0008391824
0.0000526320
0.0002209033
0.0000154182
0.0012757887
0.0000384615
0.0000910567
0.0001560390
0.0000700758
0.0000315124
0.0000844803
Setelah Stock Split (H1 – H5)
0.0018397729
0.0025989233
0.0002156419
0.0086784474
0.0022448860
0.0029284366
0.0002259461
0.0110371407
0.0047966299
0.0000077304
0.0045939689
0.0003252830
0.0008052653
0.0009815287
0.0015097778
0.0009750707
0.0001010926
0.0030106431
0.0006681597
0.0006267813
0.0004660747
0.0012672542
0.0012495793
0.0000176420
0.0000104001
0.0000105818
0.0008645417
0.0005710769
0.0001014010
0.0000005519
0.0001765152
0.0000127786
0.0000425914
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 10
Daftar Bid Price 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
10,550
11,250
10,800
3,875
1,598.64
5,500
15,055.90
1,350
1,510
3,000
43,800
810
65,500
16,850
4,158.40
2,872.25
930
1,660
4,600
6,950
9,050
2,350
3,250
28,000
6,200
5,000
11,250
85,000
2,600
570
580
6,860.52
1,250,000
H-4
10,650
11,050
10,900
3,900
1,743.20
5,450
15,103.85
1,350
1,510
3,000
44,350
810
66,800
16,300
4,158.40
2,989.01
920
1,740
4,650
7,150
8,900
2,375
3,450
29,900
6,350
5,000
10,900
85,000
2,550
580
600
6,885.48
1,250,000
H-3
10,700
11,050
10,900
3,950
1,785.72
5,400
15,247.70
1,360
1,510
3,000
45,200
820
65,150
15,600
4,084.80
2,895.60
920
2,000
4,600
7,000
8,950
2,275
3,425
28,000
6,400
5,000
11,000
85,000
2,500
580
580
6,985.26
1,250,000
H-2
10,250
11,050
11,750
3,925
1,700.68
5,300
15,679.25
1,360
1,490
3,000
45,500
820
64,200
15,350
4,158.40
2,965.65
950
2,050
4,800
7,000
9,200
2,275
3,300
28,000
6,350
4,950
10,850
85,000
2,500
570
630
7,085.06
1,300,000
H-1
9,750
10,800
11,750
3,875
1,692.18
5,400
16,014.85
1,350
1,490
3,000
44,900
810
63,550
16,100
4,305.60
2,942.31
950
2,000
4,975
7,000
9,700
2,375
3,300
28,000
6,350
4,950
10,650
85,000
2,450
580
590
4,029.00
13,000
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 11
Daftar Bid Price 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
5,000
2,175
2,650
780
412.42
1,050
3,188.59
335
305
750
4,725
210
7,000
7,800
3,128.00
653.85
230
375
970
760
2,050
1,290
840
3,000
670
980
2,250
1,320
510
320
320
3,891.79
12,325
H2
5,150
2,225
2,600
780
408.16
1,050
3,164.61
335
300
750
4,700
205
7,150
8,050
3,017.60
625.82
235
360
990
760
1,960
1,320
830
2,825
650
980
2,250
1,650
530
316
313
3,861.85
11,775
H3
5,150
2,250
2,550
770
399.66
1,040
4,147.56
335
300
710
4,500
205
6,800
7,950
2,944.00
681.87
225
355
980
760
1,950
1,290
800
2,825
670
1,000
2,225
2,025
530
317
304
3,682.23
12,000
H4
5,100
2,300
2,475
750
408.16
1,040
4,099.61
355
285
710
4,400
205
6,850
7,900
2,870.40
653.85
225
360
980
760
1,970
1,190
800
3,000
650
1,000
2,225
1,350
530
301
300
3,592.42
11,975
H5
5,050
2,350
2,525
720
408.16
1,030
4,051.67
355
290
710
4,350
205
6,650
7,800
2,852.00
672.53
220
350
980
730
1,950
1,140
800
2,975
660
990
2,200
1,340
540
300
290
3,782.02
11,750
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 12
Daftar Ask Price 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
10,100
10,600
10,800
3,775
1,573.13
5,300
14,960.00
1,330
1,470
3,000
41,000
790
64,650
15,900
3,937.61
2,872.25
910
1,620
4,375
6,700
8,900
2,250
3,175
28,000
6,200
5,000
10,500
85,000
2,350
570
575
6,860.52
1,250,000
H-4
10,100
10,700
10,750
3,775
1,598.64
5,350
14,816.15
1,340
1,470
3,000
43,500
790
64,550
15,850
4,047.99
2,872.25
910
1,630
4,550
6,850
8,800
2,150
3,250
28,000
6,300
5,000
10,600
85,000
2,550
570
580
6,636.00
1,250,000
H-3
10,150
10,800
10,800
3,850
1,692.18
5,300
15,007.95
1,330
1,470
3,000
43,500
790
64,200
14,700
4,011.19
2,662.09
900
1,720
4,575
6,800
8,700
2,100
3,025
28,000
6,300
5,000
10,600
85,000
2,500
580
580
6,685.90
1,250,000
H-2
9,700
10,750
10,900
3,825
1,666.67
5,150
15,391.55
1,340
1,480
3,000
44,500
790
63,000
14,900
4,011.19
2,825.55
930
1,950
4,575
6,850
8,800
2,100
3,175
28,000
6,100
4,950
10,600
85,000
2,500
550
630
6,985.26
1,250,000
H-1
9,050
10,450
11,500
3,800
1,632.65
5,250
15,631.30
1,330
1,450
3,000
43,500
790
61,200
15,150
4,047.99
2,802.20
930
1,920
4,725
6,700
9,150
2,300
3,225
27,850
6,350
4,700
10,000
85,000
2,450
560
550
3,542.53
12,500
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 13
Daftar Ask Price 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
4,850
2,100
2,500
750
399.66
1,020
3,116.67
330
295
750
4,500
199
6,600
7,550
3,017.60
597.80
220
350
950
720
1,950
1,210
800
2,775
640
980
2,100
1,240
485
316
314
3,861.85
11,800
H2
5,000
2,125
2,500
750
382.65
1,020
3,092.69
325
295
750
4,450
200
6,700
7,750
2,925.60
597.80
225
335
940
720
1,920
1,250
790
2,775
620
900
2,150
1,590
510
315
285
3,582.44
11,000
H3
4,950
2,150
2,450
730
382.65
1,010
4,075.64
325
275
710
4,350
199
6,600
7,750
2,778.40
616.48
225
335
960
740
1,900
1,190
770
2,725
630
980
2,100
1,340
520
317
290
3,522.57
11,250
H4
4,925
2,250
2,400
720
391.16
1,010
3,979.74
330
275
710
4,250
199
6,550
7,800
2,760.00
625.82
215
340
960
720
1,910
1,100
770
2,850
640
990
2,175
1,180
530
300
293
3,542.53
11,575
H5
4,950
2,275
2,475
690
399.66
1,010
4,003.72
340
280
710
4,150
199
6,450
7,250
2,778.40
635.16
215
330
960
690
1,910
1,090
710
2,800
600
950
2,075
1,180
530
300
289
3,592.42
11,550
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 14
Bid-Ask-Spread 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
0.0435835
0.0594966
0.0000000
0.0261438
0.0160857
0.0370370
0.0063899
0.0149254
0.0268456
0.0000000
0.0660377
0.0250000
0.0130619
0.0580153
0.0545429
0.0000000
0.0217391
0.0243902
0.0501393
0.0366300
0.0167131
0.0434783
0.0233463
0.0000000
0.0000000
0.0000000
0.0689655
0.0000000
0.1010101
0.0000000
0.0086580
0.0000000
0.0000000
H-4
0.0530120
0.0321839
0.0138568
0.0325733
0.0865152
0.0185185
0.0192313
0.0074349
0.0268456
0.0000000
0.0193512
0.0250000
0.0342596
0.0279938
0.0269083
0.0398413
0.0109290
0.0652819
0.0217391
0.0428571
0.0112994
0.0994475
0.0597015
0.0656304
0.0079051
0.0000000
0.0279070
0.0000000
0.0000000
0.0173913
0.0338983
0.0369013
0.0000000
H-3
0.0527578
0.0228833
0.0092166
0.0256410
0.0537911
0.0186916
0.0158483
0.0223048
0.0268456
0.0000000
0.0383315
0.0372671
0.0146888
0.0594059
0.0181843
0.0840313
0.0219780
0.1505376
0.0054496
0.0289855
0.0283286
0.0800000
0.1240310
0.0000000
0.0157480
0.0000000
0.0370370
0.0000000
0.0000000
0.0000000
0.0000000
0.0437944
0.0000000
H-2
0.0551378
0.0275229
0.0750552
0.0258065
0.0201999
0.0287081
0.0185190
0.0148148
0.0067340
0.0000000
0.0222222
0.0372671
0.0188679
0.0297521
0.0360385
0.0483838
0.0212766
0.0500000
0.0480000
0.0216606
0.0444444
0.0800000
0.0386100
0.0000000
0.0401606
0.0000000
0.0233100
0.0000000
0.0000000
0.0357143
0.0000000
0.0141859
0.0392157
H-1
0.0744681
0.0329412
0.0215054
0.0195440
0.0358093
0.0281690
0.0242399
0.0149254
0.0272109
0.0000000
0.0316742
0.0250000
0.0376754
0.0608000
0.0616765
0.0487805
0.0212766
0.0408163
0.0515464
0.0437956
0.0583554
0.0320856
0.0229885
0.0053715
0.0000000
0.0518135
0.0629540
0.0000000
0.0000000
0.0350877
0.0701754
0.1284998
0.0392157
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 15
Bid-Ask-Spread 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
0.0304569
0.0350877
0.0582524
0.0392157
0.0314255
0.0289855
0.0228127
0.0150376
0.0333333
0.0000000
0.0487805
0.0537897
0.0588235
0.0325733
0.0359281
0.0895618
0.0444444
0.0689655
0.0208333
0.0540541
0.0500000
0.0640000
0.0487805
0.0779221
0.0458015
0.0000000
0.0689655
0.0625000
0.0502513
0.0125786
0.0189274
0.0077228
0.0435233
H2
0.0295567
0.0459770
0.0392157
0.0392157
0.0645161
0.0289855
0.0229876
0.0303030
0.0168067
0.0000000
0.0546448
0.0246914
0.0649819
0.0379747
0.0309598
0.0457985
0.0434783
0.0719424
0.0518135
0.0540541
0.0206186
0.0544747
0.0493827
0.0178571
0.0472441
0.0851064
0.0454545
0.0370370
0.0384615
0.0031696
0.0936455
0.0750669
0.0680571
H3
0.0396040
0.0454545
0.0400000
0.0533333
0.0434866
0.0292683
0.0174920
0.0303030
0.0869565
0.0000000
0.0338983
0.0297030
0.0298507
0.0254777
0.0578778
0.1007278
0.0000000
0.0579710
0.0206186
0.0266667
0.0259740
0.0806452
0.0382166
0.0360360
0.0615385
0.0202020
0.0578035
0.4071322
0.0190476
0.0000000
0.0471380
0.0443205
0.0645161
H4
0.0349127
0.0219780
0.0307692
0.0408163
0.0425362
0.0292683
0.0296732
0.0729927
0.0357143
0.0000000
0.0346821
0.0297030
0.0447761
0.0127389
0.0392157
0.0438082
0.0454545
0.0571429
0.0206186
0.0540541
0.0309278
0.0786026
0.0382166
0.0512821
0.0155039
0.0100503
0.0227273
0.1343874
0.0000000
0.0033278
0.0236088
0.0139847
0.0339703
H5
0.0200000
0.0324324
0.0200000
0.0425532
0.0210443
0.0196078
0.0119051
0.0431655
0.0350877
0.0000000
0.0470588
0.0297030
0.0305344
0.0730897
0.0261438
0.0571542
0.0229885
0.0588235
0.0206186
0.0563380
0.0207254
0.0448430
0.1192053
0.0606061
0.0952381
0.0412371
0.0584795
0.1269841
0.0186916
0.0000000
0.0034542
0.0514209
0.0171674
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 16
Average Bid-Ask-Spread
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
Sebelum Stock Split (H-5 – H-1)
0.0557919
0.0350056
0.0239268
0.0259417
0.0424802
0.0262249
0.0168457
0.0148811
0.0228964
0.0000000
0.0355234
0.0299068
0.0237107
0.0471934
0.0394701
0.0442074
0.0194399
0.0662052
0.0353749
0.0347858
0.0318282
0.0670023
0.0537355
0.0142004
0.0127628
0.0103627
0.0440347
0.0000000
0.0202020
0.0176387
0.0225464
0.0446763
0.0156863
Setelah Stock Split (H1 – H5)
0.0309060
0.0361859
0.0376475
0.0430268
0.0406017
0.0272231
0.0209741
0.0383604
0.0415797
0.0000000
0.0438129
0.0335180
0.0457933
0.0363708
0.0380250
0.0674101
0.0312732
0.0629691
0.0269005
0.0490334
0.0296492
0.0645131
0.0587603
0.0487407
0.0530652
0.0313192
0.0506861
0.1536082
0.0252904
0.0038152
0.0373548
0.0385031
0.0454468
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 17
Uji Asumsi Klasik
Hasil Uji Normalitas
One-Sample Kolmogorov-Smirnov Test
Sebeum Stock Splitl
N
Sesudah Stock Split
33
33
.0000000
.0000000
.01505025
.02437147
Absolute
.121
.184
Positive
.121
.184
Negative
-.076
-.150
Kolmogorov-Smirnov Z
.695
1.059
Asymp. Sig. (2-tailed)
.719
.212
Mean
Normal Parametersa,b
Std. Deviation
Most Extreme Differences
a. Test distribution is Normal.
b. Calculated from data.
Hasil Uji Heteroskedastisitas Sebelum Stock Split
Hasil Uji Heteroskedastisitas Setelah Stock Split
Universitas Sumatera Utara
Hasil Uji Multikolinieritas
Coefficientsa
Model
Sebelum Stock Split
Tolerance
1
Harga Saham
Volume Perdagangan Saham
a. Dependent Variable: Likuiditas Saham
VIF
Setelah Stock Split
Tolerance
VIF
.985
1.016
.973
1.028
.985
1.016
.973
1.028
Hasil Uji Autokorelasi Sebelum Stock Split
Runs Test
Unstandardized Residual
Test Valuea
-.00009
Cases < Test Value
16
Cases >= Test Value
17
Total Cases
33
Number of Runs
13
Z
Asymp. Sig. (2-tailed)
-1.411
.158
a. Median
Universitas Sumatera Utara
Hasil Uji Autokorelasi Setelah Stock split
Runs Test
Unstandardized Residual
a
Test Value
-.00434
Cases < Test Value
16
Cases >= Test Value
17
Total Cases
33
Number of Runs
20
Z
.713
Asymp. Sig. (2-tailed)
.476
a. Median
LAMPIRAN 18
Analisis Data
Statistik Deskriptif Variabel Penelitian Sebelum Stock Split
Descriptive Statistics
N
Minimum
Maximum
1,012,500.00
Mean
41,883.8630
Std. Deviation
Harga Saham
33
568.00
175,236.62130
Volume Perdagangan
33
.0000154182
.0184087787 .002396382918 .0040064129579
Likuiditas Saham
33
.0000000000
.0670023000 .030136006061 .0168507374264
Valid N (listwise)
33
Saham
Statistik Deskriptif Variabel Penelitian Setelah Stock Split
Descriptive Statistics
N
Minimum
Harga Saham
33
205.00
Volume Perdagangan
33
.0000005519
Likuiditas Saham
33
.0000000
Valid N (listwise)
33
Maximum
11,640.00
Mean
Std. Deviation
2,126.7418
2,556.54145
.0110371407 .001604912579
.0024966355754
Saham
.1536082
.042192842
.0248542931
Universitas Sumatera Utara
Hasil Analisis Regresi Sebelum Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Collinearity
Coefficients
Coefficients
Statistics
B
1 (Constant)
Ln Harga Saham
Ln Volume
Std. Error
-2.294
.498
-.012
.053
.165
.043
Beta
t
Sig.
Tolerance
VIF
-4.605
.000
-.033
-.220
.828
.944
1.059
.586
3.879
.001
.944
1.059
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
Hasil Analisis Regresi Setelah Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Collinearity
Coefficients
Coefficients
Statistics
B
1 (Constant)
Std. Error
-2.808
.675
Ln Harga Saham
.078
.083
Ln Volume
.132
.039
Beta
t
Sig.
Tolerance
VIF
-4.161
.000
.145
.944
.353
.999
1.001
.516
3.356
.002
.999
1.001
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
LAMPIRAN 19
Pengujian Hipotesis
Hasil Uji F Sebelum Stock Split
ANOVAa
Model
1
Sum of Squares
df
Mean Square
Regression
3.377
2
1.689
Residual
6.171
30
.206
Total
9.548
32
F
8.210
Sig.
.001b
a. Dependent Variable: Ln Likuiditas Saham
b. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
Universitas Sumatera Utara
Hasil Uji F Setelah Stock Split
ANOVAa
Model
1
Sum of Squares
Df
Mean Square
F
Regression
3.323
2
1.661
Residual
8.103
30
.270
11.425
32
Total
Sig.
6.151
.006b
a. Dependent Variable: Ln Likuiditas Saham
b. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
Hasil Uji - t Sebelum Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Coefficients
Coefficients
B
(Constant)
1
Std. Error
-2.294
.498
-.012
.053
.165
.043
Ln Harga Saham
Ln Volume
Beta
t
Sig.
-4.605
.000
-.033
-.220
.828
.586
3.879
.001
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
Hasil Uji - t Setelah Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Coefficients
Coefficients
B
(Constant)
1
Std. Error
-2.808
.675
Ln Harga Saham
.078
.083
Ln Volume
.132
.039
Beta
t
Sig.
-4.161
.000
.145
.944
.353
.516
3.356
.002
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
Universitas Sumatera Utara
Koefisien Determinasi Sebelum Stock Split
Model Summaryb
Model
R
R Square
.595a
1
Adjusted R Square
.354
Std. Error of the Estimate
.311
.4535251004427
a. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
b. Dependent Variable: Ln Likuiditas Saham
Koefisien Determinasi Setelah Stock Split
Model Summaryb
Model
1
R
R Square
.539a
.291
Adjusted R Square
Std. Error of the Estimate
.244
.5197013840
a. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
b. Dependent Variable: Ln Likuiditas Saham
Universitas Sumatera Utara
LAMPIRAN 1
Daftar Sampel Perusahaan
No
Kode
Nama Perusahaan
1
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
28.
29.
30.
31.
32.
33.
34.
35.
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
DKFT
KREN
KLBF
ACES
JPFA
IDKM
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
CMPP
MLBI
Bank Rakyat Indonesia (Persero) Tbk
London Sumatera Plantation Tbk
Bank Tabungan Pensiunan Nasional Tbk
Intraco Penta Tbk
Pan Brothers Tbk
Malindo Feedmill Tbk
Astra Otopart Tbk
Surya Semesta Internusa Tbk
Jasuindo Tiga Perkasa Tbk
Metro Realty Tbk
Petrosea Tbk
Pakuwon Jati Tbk
Astra International Tbk
Indomobil Sukses International Tbk
Indosring Tbk
Modern International Tbk
Central Omega Resources Tbk
Kresna Graha Sekurindo Tbk
Kalbe Farma Tbk
Ace Hardwarea Indonesia Tbk
Japfa Comfeed Tbk
Indosiar Karya Media Tbk
Summaraecon Agung Tbk
Arwana Citra Mulia Tbk
Sarana Menara Nusantara Tbk
Sumber Alfaria Trijaya Tbk
Jaya Real Property Tbk
Telekomunikasi Indonesia Tbk
Sepatu Bata Tbk
Jaya Konstruksi Tbk
Alumindo Light Metal Industry Tbk
Indal Aluminium Industry Tbk
Surya Toto Indonesia
Centris Multipersada Pratama Tbk
Multi Bintang Indonesia Tbk
Kriteria
2 3
x
x
Sampel
S1
S2
S3
S4
S5
S6
S7
S8
S9
S10
S11
S12
S13
S14
S15
S16
S17
S18
S19
S20
S21
S22
S23
S24
S25
S26
S27
S28
S29
S30
S31
S32
S33
Universitas Sumatera Utara
LAMPIRAN 2
Daftar Harga Saham 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
H-4
H-3
H-2
H-1
10,300.00
10,950.00
10,800.00
3,825.00
1,598.64
5,350.00
14,960.00
1,350.00
1,480.00
3,000.00
43,250.00
810.00
65,200.00
16,050.00
4,047.99
2,872.25
920.00
1,630.00
4,550.00
6,900.00
8,950.00
2,275.00
3,250.00
28,000.00
6,200.00
5,000.00
10,950.00
85,000.00
2,550.00
570.00
580.00
6,860.52
1,250,000.00
10,600.00
11,000.00
10,750.00
3,875.00
1,721.94
5,350.00
14,960.00
1,360.00
1,490.00
3,000.00
43,500.00
800.00
66,000.00
15,950.00
4,121.60
2,895.60
910.00
1,730.00
4,575.00
7,000.00
8,850.00
2,175.00
3,375.00
28,000.00
6,300.00
5,000.00
10,650.00
85,000.00
2,550.00
580.00
580.00
6,860.52
1,250,000.00
10,350.00
10,900.00
10,900.00
3,875.00
1,700.68
5,300.00
15,247.70
1,350.00
1,490.00
3,000.00
45,000.00
810.00
64,300.00
15,050.00
4,047.99
2,825.55
920.00
2,000.00
4,575.00
6,950.00
8,800.00
2,100.00
3,250.00
28,000.00
6,300.00
5,000.00
10,750.00
85,000.00
2,500.00
580.00
580.00
6,985.26
1,250,000.00
9,800.00
10,800.00
11,750.00
3,850.00
1,683.67
5,300.00
15,631.30
1,350.00
1,490.00
3,000.00
44,900.00
800.00
63,350.00
15,000.00
4,047.99
2,942.31
950.00
2,000.00
4,700.00
6,900.00
9,150.00
2,275.00
3,250.00
28,000.00
6,350.00
4,950.00
10,650.00
85,000.00
2,500.00
550.00
630.00
7,085.06
1,300,000.00
9,300.00
10,500.00
11,650.00
3,850.00
1,641.16
5,350.00
15,918.95
1,340.00
1,450.00
3,000.00
44,000.00
810.00
62,400.00
16,000.00
4,195.21
2,848.90
930.00
1,930.00
4,800.00
7,000.00
9,400.00
2,300.00
3,300.00
27,850.00
6,350.00
4,950.00
10,100.00
85,000.00
2,450.00
560.00
560.00
3,991.58
12,500.00
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 3
Daftar Harga Saham 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
5,000.00
2,150.00
2,550.00
770.00
403.91
1,030.00
3,116.67
335.00
300.00
750.00
4,575.00
210.00
6,950.00
7,550.00
3,071.60
616.48
225.00
360.00
960.00
740.00
1,980.00
1,290.00
820.00
2,775.00
640.00
980.00
2,225.00
1,320.00
510.00
316.00
314.00
3,861.85
11,800.00
H2
5,100.00
2,225.00
2,525.00
760.00
382.65
1,020.00
3,092.69
330.00
295.00
750.00
4,475.00
205.00
6,800.00
7,950.00
2,944.00
625.82
225.00
340.00
980.00
740.00
1,930.00
1,280.00
800.00
2,800.00
640.00
980.00
2,200.00
1,650.00
530.00
315.00
304.00
3,712.17
11,250.00
H3
5,150.00
2,250.00
2,500.00
740.00
391.16
1,020.00
4,075.64
330.00
280.00
710.00
4,400.00
205.00
6,650.00
7,800.00
2,815.20
644.50
225.00
350.00
980.00
760.00
1,910.00
1,190.00
780.00
2,825.00
650.00
1,000.00
2,150.00
1,350.00
530.00
317.00
290.00
3,522.57
11,700.00
H4
5,050.00
2,275.00
2,450.00
730.00
399.66
1,030.00
4,003.72
350.00
280.00
710.00
4,250.00
205.00
6,600.00
7,800.00
2,778.40
644.50
215.00
350.00
970.00
720.00
1,940.00
1,120.00
790.00
2,975.00
650.00
1,000.00
2,200.00
1,200.00
530.00
300.00
293.00
3,582.44
11,750.00
H5
5,000.00
2,350.00
2,500.00
710.00
403.91
1,020.00
4,027.69
345.00
285.00
710.00
4,225.00
200.00
6,650.00
7,400.00
2,815.20
653.85
220.00
345.00
980.00
710.00
1,940.00
1,100.00
730.00
2,825.00
640.00
950.00
2,100.00
1,220.00
540.00
300.00
290.00
3,742.10
11,700.00
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 4
Daftar Volume Perdagangan Saham 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
H-4
H-3
H-2
H-1
55,697,000
35,457,500
12,500
51,940,000
7,874,400
6,317,500
49,500
24,666,000
11,767,500
6,000
1,775,000
65,280,000
26,780,000
2,823,000
666,900
29,400
2,014,000
15,965,000
107,795,000
5,400,000
6,125,000
31,029,000
2,244,000
5,000
25,000
132,500
202,245,000
50,000
3,707,500
11,200
29,200
9,800
20,000
47,598,000
20,882,500
887,500
56,495,000
63,313,400
6,250,000
99,000
23,768,000
18,412,500
6,000
1,285,000
22,988,000
35,245,000
2,362,000
729,900
765,400
1,544,000
69,792,500
51,995,000
4,555,000
2,492,500
57,718,000
13,480,000
380,000
40,285,000
30,000
145,652,500
50,000
3,707,500
2,800
16,400
22,600
20,000
43,309,000
20,865,000
1,075,000
45,747,500
23,908,000
5,657,500
109,400
26,426,000
16,542,500
6,000
2,235,000
79,284,000
63,410,000
2,512,000
802,400
1,763,700
2,826,000
146,262,500
30,827,500
2,400,000
1,220,000
39,499,000
11,134,000
1,090,000
1,320,000
2,500
84,685,000
50,000
2,500
400
24,200
4,600
200,000
120,914,000
38,205,000
5,950,000
27,297,500
5,774,100
4,917,500
649,100
13,440,000
6,350,000
6,000
2,345,000
40,736,000
45,595,000
2,281,000
247,200
1,820,000
2,458,000
76,467,500
50,510,000
4,270,000
6,280,000
27,883,000
1,580,000
1,090,000
15,000
35,000
81,722,500
50,000
5,000
160,000
200
40,200
220,000
181,789,000
30,577,500
3,162,500
17,337,500
21,873,600
7,520,000
1,136,600
29,880,000
10,487,500
6,000
700,000
47,016,000
44,140,000
3,278,000
2,141,100
2,250,900
1,836,000
38,102,500
48,042,500
12,360,000
7,060,000
29,222,000
2,366,000
120,000
50,000
860,000
128,692,500
50,000
2,500
306,200
41,000
78,900
430,000
Sumber: www.finance .yahoo.com
Universitas Sumatera Utara
LAMPIRAN 5
Daftar Volume perdagangan 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
H2
H3
H4
H5
53,144,500
7,579,000
2,603,500
15,347,000
2,185,500
4,085,500
225,200
18,940,500
10,224,000
1,500
3,849,500
40,518,000
41,969,000
1,362,500
97,600
1,001,000
472,500
16,655,500
32,860,000
12,719,500
11,141,500
16,021,000
3,517,000
483,000
72,000
500
105,664,500
266,000
3,636,000
200
3,700
1,200
41,800
62,344,000
14,399,000
1,726,000
22,160,000
7,235,300
4,898,000
320,600
26,205,000
6,249,500
1,500
3,602,500
4,724,000
45,218,000
3,345,000
349,000
221,600
296,500
19,042,000
63,946,500
4,005,500
3,843,000
11,487,000
4,233,500
21,500
31,000
564,500
109,446,500
206,500
3,045,000
600
125,500
11,600
93,100
38,167,500
13,142,500
732,500
24,959,000
6,740,200
3,429,500
1,325,800
31,197,000
15,739,000
2,000
7,022,000
9,423,000
14,550,500
3,606,500
476,300
14,767,700
189,000
22,314,500
28,477,000
4,841,000
2,054,500
16,468,000
4,209,500
145,500
379,000
134,500
63,655,500
1,776,500
809,000
100
114,100
30,800
180,500
45,738,000
28,791,500
653,500
13,585,000
14,534,700
7,436,000
1,660,100
141,652,000
5,412,000
2,000
4,195,000
11,265,500
43,667,500
3,102,500
1,252,500
1,675,400
404,500
16,787,000
24,280,000
19,426,500
4,134,000
35,484,000
5,623,000
228,000
180,000
24,500
50,207,000
958,500
194,000
300
9,200
9,900
72,900
25,265,000
24,748,500
330,000
17,677,500
3,694,400
4,969,500
824,300
41,668,000
4,818,000
2,000
4,498,500
12,397,000
17,595,000
2,154,500
202,500
2,610,000
239,500
9,685,000
20,082,500
12,754,000
3,670,000
11,952,000
28,285,500
22,000
1,301,000
3,500
106,755,500
504,500
584,500
500
27,100
9,800
60,400
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 6
Jumlah Saham Beredar dari Sampel Perusahaan Pada Periode Penelitian
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
2011
2012
2013
2014
24,422,470,380
6,822,863,965
5,606,980,970
2,160,029,220
3,063,861,660
1,695,000,000
3,855,786,400
4,705,249,440
1,769,680,000
232,848,000
1,008,605,000
48,159,602,400
40,483,553,140
2,765,278,412
315,000,000
4,158,816,363
3,169,370,290
5,612,355,730
50,780,072,110
17,150,000,000
10,660,522,910
14,426,781,680
7,341,430,976
10,202,925,000
37,749,547,000
13,750,000,000
100,799,996,400
1,300,000,000
16,308,519,860
616,000,000
316,800,000
990,720,000
2,107,000,000
Sumber: www.sahamok.com
Universitas Sumatera Utara
LAMPIRAN 7
Trading Volume Activity 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
H-4
H-3
H-2
H-1
0.002280564
0.005196865
0.000002229
0.024045971
0.002570090
0.003727139
0.000012838
0.005242230
0.006649507
0.000025768
0.001759856
0.001355493
0.000661503
0.001020874
0.002117143
0.000007069
0.000635457
0.002844617
0.002122782
0.000314869
0.000574550
0.002150792
0.000305662
0.000000490
0.000000662
0.000009636
0.002006399
0.000038462
0.000227335
0.000018182
0.000092172
0.000009892
0.000009492
0.001948943
0.003060665
0.000158285
0.026154739
0.020664575
0.003687316
0.000025676
0.005051379
0.010404423
0.000025768
0.001274037
0.000477330
0.000870600
0.000854164
0.002317143
0.000184043
0.000487163
0.012435509
0.001023925
0.000265598
0.000233807
0.004000754
0.001836154
0.000037244
0.001067165
0.000002182
0.001444965
0.000038462
0.000227335
0.000004545
0.000051768
0.000022812
0.000009492
0.001773326
0.003058100
0.000191725
0.021179112
0.007803224
0.003337758
0.000028373
0.005616280
0.009347735
0.000025768
0.002215932
0.001646276
0.001566315
0.000908408
0.002547302
0.000424087
0.000891660
0.026060804
0.000607079
0.000139942
0.000114441
0.002737894
0.001516598
0.000106832
0.000034967
0.000000182
0.000840129
0.000038462
0.000000153
0.000000649
0.000076389
0.000004643
0.000094922
0.004950932
0.005599555
0.001061177
0.012637561
0.001884582
0.002901180
0.000168344
0.002856384
0.003588219
0.000025768
0.002324993
0.000845854
0.001126260
0.000824872
0.000784762
0.000437625
0.000775548
0.013624849
0.000994682
0.000248980
0.000589089
0.001932725
0.000215217
0.000106832
0.000000397
0.000002545
0.000810739
0.000038462
0.000000307
0.000259740
0.000000631
0.000040577
0.000104414
0.007443514
0.004481622
0.000564029
0.008026512
0.007139226
0.004436578
0.000294778
0.006350354
0.005926213
0.000025768
0.000694028
0.000976254
0.001090319
0.001185414
0.006797143
0.000541236
0.000579295
0.006789039
0.000946090
0.000720700
0.000662256
0.002025538
0.000322280
0.000011761
0.000001325
0.000062545
0.001276711
0.000038462
0.000000153
0.000497078
0.000129419
0.000079639
0.000204082
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 8
Trading Volume Activity 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
0.002176049
0.001110824
0.000464332
0.007104996
0.000713315
0.002410324
0.000058406
0.004025398
0.005777316
0.000006442
0.003816658
0.000841328
0.001036693
0.000492717
0.000309841
0.000240693
0.000149083
0.002967649
0.000647104
0.000741662
0.001045118
0.001110504
0.000479062
0.000047339
0.000001907
0.000000036
0.001048259
0.000204615
0.000222951
0.000000325
0.000011679
0.000001211
0.000019839
H2
H3
H4
H5
0.002552731
0.002110404
0.000307831
0.010259120
0.002361497
0.002889676
0.000083148
0.005569312
0.003531429
0.000006442
0.003571765
0.000098091
0.001116947
0.001209643
0.001107937
0.000053284
0.000093552
0.003392871
0.001259283
0.000233557
0.000360489
0.000796227
0.000576659
0.000002107
0.000000821
0.000041055
0.001085779
0.000158846
0.000186712
0.000000974
0.000396149
0.000011709
0.000044186
0.001562803
0.001926244
0.000130641
0.011554936
0.002199904
0.002023304
0.000343847
0.006630254
0.008893698
0.000008589
0.006962091
0.000195662
0.000359418
0.001304209
0.001512063
0.003550938
0.000059633
0.003975960
0.000560791
0.000282274
0.000192720
0.001141488
0.000573390
0.000014261
0.000010040
0.000009782
0.000631503
0.001366538
0.000049606
0.000000162
0.000360164
0.000031089
0.000085667
0.001872784
0.004219855
0.000116551
0.006289267
0.004743915
0.004387021
0.000430548
0.030105099
0.003058180
0.000008589
0.004159210
0.000233920
0.001078648
0.001121949
0.003976190
0.000402855
0.000127628
0.002991079
0.000478140
0.001132741
0.000387786
0.002459592
0.000765927
0.000022347
0.000004768
0.000001782
0.000498085
0.000737308
0.000011896
0.000000487
0.000029040
0.000009993
0.000034599
0.001034498
0.003627289
0.000058855
0.008183917
0.001205799
0.002931858
0.000213783
0.008855641
0.002722526
0.000008589
0.004460121
0.000257415
0.000434621
0.000779126
0.000642857
0.000627582
0.000075567
0.001725657
0.000395480
0.000743673
0.000344261
0.000828459
0.003852859
0.000002156
0.000034464
0.000000255
0.001059082
0.000388077
0.000035840
0.000000812
0.000085543
0.000009892
0.000028666
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 9
Average Trading Volume Activity
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
Sebelum Stock Split (H-5 – H-1)
0.0036794558
0.0042793613
0.0003954891
0.0184087787
0.0080123396
0.0036179941
0.0001060017
0.0050233256
0.0071832196
0.0000257679
0.0016537693
0.0010602413
0.0010629996
0.0009587461
0.0029126984
0.0003188119
0.0006738247
0.0123509634
0.0011389113
0.0003380175
0.0004348286
0.0025695405
0.0008391824
0.0000526320
0.0002209033
0.0000154182
0.0012757887
0.0000384615
0.0000910567
0.0001560390
0.0000700758
0.0000315124
0.0000844803
Setelah Stock Split (H1 – H5)
0.0018397729
0.0025989233
0.0002156419
0.0086784474
0.0022448860
0.0029284366
0.0002259461
0.0110371407
0.0047966299
0.0000077304
0.0045939689
0.0003252830
0.0008052653
0.0009815287
0.0015097778
0.0009750707
0.0001010926
0.0030106431
0.0006681597
0.0006267813
0.0004660747
0.0012672542
0.0012495793
0.0000176420
0.0000104001
0.0000105818
0.0008645417
0.0005710769
0.0001014010
0.0000005519
0.0001765152
0.0000127786
0.0000425914
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 10
Daftar Bid Price 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
10,550
11,250
10,800
3,875
1,598.64
5,500
15,055.90
1,350
1,510
3,000
43,800
810
65,500
16,850
4,158.40
2,872.25
930
1,660
4,600
6,950
9,050
2,350
3,250
28,000
6,200
5,000
11,250
85,000
2,600
570
580
6,860.52
1,250,000
H-4
10,650
11,050
10,900
3,900
1,743.20
5,450
15,103.85
1,350
1,510
3,000
44,350
810
66,800
16,300
4,158.40
2,989.01
920
1,740
4,650
7,150
8,900
2,375
3,450
29,900
6,350
5,000
10,900
85,000
2,550
580
600
6,885.48
1,250,000
H-3
10,700
11,050
10,900
3,950
1,785.72
5,400
15,247.70
1,360
1,510
3,000
45,200
820
65,150
15,600
4,084.80
2,895.60
920
2,000
4,600
7,000
8,950
2,275
3,425
28,000
6,400
5,000
11,000
85,000
2,500
580
580
6,985.26
1,250,000
H-2
10,250
11,050
11,750
3,925
1,700.68
5,300
15,679.25
1,360
1,490
3,000
45,500
820
64,200
15,350
4,158.40
2,965.65
950
2,050
4,800
7,000
9,200
2,275
3,300
28,000
6,350
4,950
10,850
85,000
2,500
570
630
7,085.06
1,300,000
H-1
9,750
10,800
11,750
3,875
1,692.18
5,400
16,014.85
1,350
1,490
3,000
44,900
810
63,550
16,100
4,305.60
2,942.31
950
2,000
4,975
7,000
9,700
2,375
3,300
28,000
6,350
4,950
10,650
85,000
2,450
580
590
4,029.00
13,000
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 11
Daftar Bid Price 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
5,000
2,175
2,650
780
412.42
1,050
3,188.59
335
305
750
4,725
210
7,000
7,800
3,128.00
653.85
230
375
970
760
2,050
1,290
840
3,000
670
980
2,250
1,320
510
320
320
3,891.79
12,325
H2
5,150
2,225
2,600
780
408.16
1,050
3,164.61
335
300
750
4,700
205
7,150
8,050
3,017.60
625.82
235
360
990
760
1,960
1,320
830
2,825
650
980
2,250
1,650
530
316
313
3,861.85
11,775
H3
5,150
2,250
2,550
770
399.66
1,040
4,147.56
335
300
710
4,500
205
6,800
7,950
2,944.00
681.87
225
355
980
760
1,950
1,290
800
2,825
670
1,000
2,225
2,025
530
317
304
3,682.23
12,000
H4
5,100
2,300
2,475
750
408.16
1,040
4,099.61
355
285
710
4,400
205
6,850
7,900
2,870.40
653.85
225
360
980
760
1,970
1,190
800
3,000
650
1,000
2,225
1,350
530
301
300
3,592.42
11,975
H5
5,050
2,350
2,525
720
408.16
1,030
4,051.67
355
290
710
4,350
205
6,650
7,800
2,852.00
672.53
220
350
980
730
1,950
1,140
800
2,975
660
990
2,200
1,340
540
300
290
3,782.02
11,750
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 12
Daftar Ask Price 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
10,100
10,600
10,800
3,775
1,573.13
5,300
14,960.00
1,330
1,470
3,000
41,000
790
64,650
15,900
3,937.61
2,872.25
910
1,620
4,375
6,700
8,900
2,250
3,175
28,000
6,200
5,000
10,500
85,000
2,350
570
575
6,860.52
1,250,000
H-4
10,100
10,700
10,750
3,775
1,598.64
5,350
14,816.15
1,340
1,470
3,000
43,500
790
64,550
15,850
4,047.99
2,872.25
910
1,630
4,550
6,850
8,800
2,150
3,250
28,000
6,300
5,000
10,600
85,000
2,550
570
580
6,636.00
1,250,000
H-3
10,150
10,800
10,800
3,850
1,692.18
5,300
15,007.95
1,330
1,470
3,000
43,500
790
64,200
14,700
4,011.19
2,662.09
900
1,720
4,575
6,800
8,700
2,100
3,025
28,000
6,300
5,000
10,600
85,000
2,500
580
580
6,685.90
1,250,000
H-2
9,700
10,750
10,900
3,825
1,666.67
5,150
15,391.55
1,340
1,480
3,000
44,500
790
63,000
14,900
4,011.19
2,825.55
930
1,950
4,575
6,850
8,800
2,100
3,175
28,000
6,100
4,950
10,600
85,000
2,500
550
630
6,985.26
1,250,000
H-1
9,050
10,450
11,500
3,800
1,632.65
5,250
15,631.30
1,330
1,450
3,000
43,500
790
61,200
15,150
4,047.99
2,802.20
930
1,920
4,725
6,700
9,150
2,300
3,225
27,850
6,350
4,700
10,000
85,000
2,450
560
550
3,542.53
12,500
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 13
Daftar Ask Price 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
4,850
2,100
2,500
750
399.66
1,020
3,116.67
330
295
750
4,500
199
6,600
7,550
3,017.60
597.80
220
350
950
720
1,950
1,210
800
2,775
640
980
2,100
1,240
485
316
314
3,861.85
11,800
H2
5,000
2,125
2,500
750
382.65
1,020
3,092.69
325
295
750
4,450
200
6,700
7,750
2,925.60
597.80
225
335
940
720
1,920
1,250
790
2,775
620
900
2,150
1,590
510
315
285
3,582.44
11,000
H3
4,950
2,150
2,450
730
382.65
1,010
4,075.64
325
275
710
4,350
199
6,600
7,750
2,778.40
616.48
225
335
960
740
1,900
1,190
770
2,725
630
980
2,100
1,340
520
317
290
3,522.57
11,250
H4
4,925
2,250
2,400
720
391.16
1,010
3,979.74
330
275
710
4,250
199
6,550
7,800
2,760.00
625.82
215
340
960
720
1,910
1,100
770
2,850
640
990
2,175
1,180
530
300
293
3,542.53
11,575
H5
4,950
2,275
2,475
690
399.66
1,010
4,003.72
340
280
710
4,150
199
6,450
7,250
2,778.40
635.16
215
330
960
690
1,910
1,090
710
2,800
600
950
2,075
1,180
530
300
289
3,592.42
11,550
Sumber: www.finance.yahoo.com
Universitas Sumatera Utara
LAMPIRAN 14
Bid-Ask-Spread 5 hari Sebelum Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H-5
0.0435835
0.0594966
0.0000000
0.0261438
0.0160857
0.0370370
0.0063899
0.0149254
0.0268456
0.0000000
0.0660377
0.0250000
0.0130619
0.0580153
0.0545429
0.0000000
0.0217391
0.0243902
0.0501393
0.0366300
0.0167131
0.0434783
0.0233463
0.0000000
0.0000000
0.0000000
0.0689655
0.0000000
0.1010101
0.0000000
0.0086580
0.0000000
0.0000000
H-4
0.0530120
0.0321839
0.0138568
0.0325733
0.0865152
0.0185185
0.0192313
0.0074349
0.0268456
0.0000000
0.0193512
0.0250000
0.0342596
0.0279938
0.0269083
0.0398413
0.0109290
0.0652819
0.0217391
0.0428571
0.0112994
0.0994475
0.0597015
0.0656304
0.0079051
0.0000000
0.0279070
0.0000000
0.0000000
0.0173913
0.0338983
0.0369013
0.0000000
H-3
0.0527578
0.0228833
0.0092166
0.0256410
0.0537911
0.0186916
0.0158483
0.0223048
0.0268456
0.0000000
0.0383315
0.0372671
0.0146888
0.0594059
0.0181843
0.0840313
0.0219780
0.1505376
0.0054496
0.0289855
0.0283286
0.0800000
0.1240310
0.0000000
0.0157480
0.0000000
0.0370370
0.0000000
0.0000000
0.0000000
0.0000000
0.0437944
0.0000000
H-2
0.0551378
0.0275229
0.0750552
0.0258065
0.0201999
0.0287081
0.0185190
0.0148148
0.0067340
0.0000000
0.0222222
0.0372671
0.0188679
0.0297521
0.0360385
0.0483838
0.0212766
0.0500000
0.0480000
0.0216606
0.0444444
0.0800000
0.0386100
0.0000000
0.0401606
0.0000000
0.0233100
0.0000000
0.0000000
0.0357143
0.0000000
0.0141859
0.0392157
H-1
0.0744681
0.0329412
0.0215054
0.0195440
0.0358093
0.0281690
0.0242399
0.0149254
0.0272109
0.0000000
0.0316742
0.0250000
0.0376754
0.0608000
0.0616765
0.0487805
0.0212766
0.0408163
0.0515464
0.0437956
0.0583554
0.0320856
0.0229885
0.0053715
0.0000000
0.0518135
0.0629540
0.0000000
0.0000000
0.0350877
0.0701754
0.1284998
0.0392157
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 15
Bid-Ask-Spread 5 hari Setelah Stock Split
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
H1
0.0304569
0.0350877
0.0582524
0.0392157
0.0314255
0.0289855
0.0228127
0.0150376
0.0333333
0.0000000
0.0487805
0.0537897
0.0588235
0.0325733
0.0359281
0.0895618
0.0444444
0.0689655
0.0208333
0.0540541
0.0500000
0.0640000
0.0487805
0.0779221
0.0458015
0.0000000
0.0689655
0.0625000
0.0502513
0.0125786
0.0189274
0.0077228
0.0435233
H2
0.0295567
0.0459770
0.0392157
0.0392157
0.0645161
0.0289855
0.0229876
0.0303030
0.0168067
0.0000000
0.0546448
0.0246914
0.0649819
0.0379747
0.0309598
0.0457985
0.0434783
0.0719424
0.0518135
0.0540541
0.0206186
0.0544747
0.0493827
0.0178571
0.0472441
0.0851064
0.0454545
0.0370370
0.0384615
0.0031696
0.0936455
0.0750669
0.0680571
H3
0.0396040
0.0454545
0.0400000
0.0533333
0.0434866
0.0292683
0.0174920
0.0303030
0.0869565
0.0000000
0.0338983
0.0297030
0.0298507
0.0254777
0.0578778
0.1007278
0.0000000
0.0579710
0.0206186
0.0266667
0.0259740
0.0806452
0.0382166
0.0360360
0.0615385
0.0202020
0.0578035
0.4071322
0.0190476
0.0000000
0.0471380
0.0443205
0.0645161
H4
0.0349127
0.0219780
0.0307692
0.0408163
0.0425362
0.0292683
0.0296732
0.0729927
0.0357143
0.0000000
0.0346821
0.0297030
0.0447761
0.0127389
0.0392157
0.0438082
0.0454545
0.0571429
0.0206186
0.0540541
0.0309278
0.0786026
0.0382166
0.0512821
0.0155039
0.0100503
0.0227273
0.1343874
0.0000000
0.0033278
0.0236088
0.0139847
0.0339703
H5
0.0200000
0.0324324
0.0200000
0.0425532
0.0210443
0.0196078
0.0119051
0.0431655
0.0350877
0.0000000
0.0470588
0.0297030
0.0305344
0.0730897
0.0261438
0.0571542
0.0229885
0.0588235
0.0206186
0.0563380
0.0207254
0.0448430
0.1192053
0.0606061
0.0952381
0.0412371
0.0584795
0.1269841
0.0186916
0.0000000
0.0034542
0.0514209
0.0171674
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 16
Average Bid-Ask-Spread
No
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Kode
BBRI
LSIP
BTPN
INTA
PBRX
MAIN
AUTO
SSIA
JTPE
MTSM
PTRO
PWON
ASII
IMAS
INDS
MDRN
KREN
DKFT
KLBF
ACES
JPFA
SMRA
ARNA
TOWR
AMRT
JRPT
TLKM
BATA
JKON
ALMI
INAI
TOTO
MLBI
Sebelum Stock Split (H-5 – H-1)
0.0557919
0.0350056
0.0239268
0.0259417
0.0424802
0.0262249
0.0168457
0.0148811
0.0228964
0.0000000
0.0355234
0.0299068
0.0237107
0.0471934
0.0394701
0.0442074
0.0194399
0.0662052
0.0353749
0.0347858
0.0318282
0.0670023
0.0537355
0.0142004
0.0127628
0.0103627
0.0440347
0.0000000
0.0202020
0.0176387
0.0225464
0.0446763
0.0156863
Setelah Stock Split (H1 – H5)
0.0309060
0.0361859
0.0376475
0.0430268
0.0406017
0.0272231
0.0209741
0.0383604
0.0415797
0.0000000
0.0438129
0.0335180
0.0457933
0.0363708
0.0380250
0.0674101
0.0312732
0.0629691
0.0269005
0.0490334
0.0296492
0.0645131
0.0587603
0.0487407
0.0530652
0.0313192
0.0506861
0.1536082
0.0252904
0.0038152
0.0373548
0.0385031
0.0454468
Sumber: hasil penelitian, 2016 (Data Diolah)
Universitas Sumatera Utara
LAMPIRAN 17
Uji Asumsi Klasik
Hasil Uji Normalitas
One-Sample Kolmogorov-Smirnov Test
Sebeum Stock Splitl
N
Sesudah Stock Split
33
33
.0000000
.0000000
.01505025
.02437147
Absolute
.121
.184
Positive
.121
.184
Negative
-.076
-.150
Kolmogorov-Smirnov Z
.695
1.059
Asymp. Sig. (2-tailed)
.719
.212
Mean
Normal Parametersa,b
Std. Deviation
Most Extreme Differences
a. Test distribution is Normal.
b. Calculated from data.
Hasil Uji Heteroskedastisitas Sebelum Stock Split
Hasil Uji Heteroskedastisitas Setelah Stock Split
Universitas Sumatera Utara
Hasil Uji Multikolinieritas
Coefficientsa
Model
Sebelum Stock Split
Tolerance
1
Harga Saham
Volume Perdagangan Saham
a. Dependent Variable: Likuiditas Saham
VIF
Setelah Stock Split
Tolerance
VIF
.985
1.016
.973
1.028
.985
1.016
.973
1.028
Hasil Uji Autokorelasi Sebelum Stock Split
Runs Test
Unstandardized Residual
Test Valuea
-.00009
Cases < Test Value
16
Cases >= Test Value
17
Total Cases
33
Number of Runs
13
Z
Asymp. Sig. (2-tailed)
-1.411
.158
a. Median
Universitas Sumatera Utara
Hasil Uji Autokorelasi Setelah Stock split
Runs Test
Unstandardized Residual
a
Test Value
-.00434
Cases < Test Value
16
Cases >= Test Value
17
Total Cases
33
Number of Runs
20
Z
.713
Asymp. Sig. (2-tailed)
.476
a. Median
LAMPIRAN 18
Analisis Data
Statistik Deskriptif Variabel Penelitian Sebelum Stock Split
Descriptive Statistics
N
Minimum
Maximum
1,012,500.00
Mean
41,883.8630
Std. Deviation
Harga Saham
33
568.00
175,236.62130
Volume Perdagangan
33
.0000154182
.0184087787 .002396382918 .0040064129579
Likuiditas Saham
33
.0000000000
.0670023000 .030136006061 .0168507374264
Valid N (listwise)
33
Saham
Statistik Deskriptif Variabel Penelitian Setelah Stock Split
Descriptive Statistics
N
Minimum
Harga Saham
33
205.00
Volume Perdagangan
33
.0000005519
Likuiditas Saham
33
.0000000
Valid N (listwise)
33
Maximum
11,640.00
Mean
Std. Deviation
2,126.7418
2,556.54145
.0110371407 .001604912579
.0024966355754
Saham
.1536082
.042192842
.0248542931
Universitas Sumatera Utara
Hasil Analisis Regresi Sebelum Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Collinearity
Coefficients
Coefficients
Statistics
B
1 (Constant)
Ln Harga Saham
Ln Volume
Std. Error
-2.294
.498
-.012
.053
.165
.043
Beta
t
Sig.
Tolerance
VIF
-4.605
.000
-.033
-.220
.828
.944
1.059
.586
3.879
.001
.944
1.059
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
Hasil Analisis Regresi Setelah Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Collinearity
Coefficients
Coefficients
Statistics
B
1 (Constant)
Std. Error
-2.808
.675
Ln Harga Saham
.078
.083
Ln Volume
.132
.039
Beta
t
Sig.
Tolerance
VIF
-4.161
.000
.145
.944
.353
.999
1.001
.516
3.356
.002
.999
1.001
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
LAMPIRAN 19
Pengujian Hipotesis
Hasil Uji F Sebelum Stock Split
ANOVAa
Model
1
Sum of Squares
df
Mean Square
Regression
3.377
2
1.689
Residual
6.171
30
.206
Total
9.548
32
F
8.210
Sig.
.001b
a. Dependent Variable: Ln Likuiditas Saham
b. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
Universitas Sumatera Utara
Hasil Uji F Setelah Stock Split
ANOVAa
Model
1
Sum of Squares
Df
Mean Square
F
Regression
3.323
2
1.661
Residual
8.103
30
.270
11.425
32
Total
Sig.
6.151
.006b
a. Dependent Variable: Ln Likuiditas Saham
b. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
Hasil Uji - t Sebelum Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Coefficients
Coefficients
B
(Constant)
1
Std. Error
-2.294
.498
-.012
.053
.165
.043
Ln Harga Saham
Ln Volume
Beta
t
Sig.
-4.605
.000
-.033
-.220
.828
.586
3.879
.001
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
Hasil Uji - t Setelah Stock Split
Coefficientsa
Model
Unstandardized
Standardized
Coefficients
Coefficients
B
(Constant)
1
Std. Error
-2.808
.675
Ln Harga Saham
.078
.083
Ln Volume
.132
.039
Beta
t
Sig.
-4.161
.000
.145
.944
.353
.516
3.356
.002
Perdagangan Saham
a. Dependent Variable: Ln Likuiditas Saham
Universitas Sumatera Utara
Koefisien Determinasi Sebelum Stock Split
Model Summaryb
Model
R
R Square
.595a
1
Adjusted R Square
.354
Std. Error of the Estimate
.311
.4535251004427
a. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
b. Dependent Variable: Ln Likuiditas Saham
Koefisien Determinasi Setelah Stock Split
Model Summaryb
Model
1
R
R Square
.539a
.291
Adjusted R Square
Std. Error of the Estimate
.244
.5197013840
a. Predictors: (Constant), Ln Volume Perdagangan Saham, Ln Harga Saham
b. Dependent Variable: Ln Likuiditas Saham
Universitas Sumatera Utara