Stock Liquidity and Stock Return (Study on Manufacturing Companies Listed on the Indonesia Stock Exchange 2013-2017 Period)
Amount: Stock Liquidity and Stock Return (Study on Manufacturing Companies Listed on the Indonesia Stock Exchange 2013-2017 Period)
Author: Cynthia Eka Violita
Item Type: Thesis
Memberships: Master of Management Science Study Program, Faculty of Economics and Business, Airlangga University, Surabaya, Indonesia
Publisher: Airlangga University
Abstract
The purpose of this study was to determine the effect of stock liquidity on stock returns in manufacturing companies listed on the Indonesia Stock Exchange from 2013 to 2017. The dependent variable in this study is stock returns. The independent variable in this study is stock liquidity. Stock liquidity is measured by illiquidity and turnover. The control variables in this study are leverage, firm size, firm age, and growth opportunity. The result of this study is stock liquidity as measured by illiquidity and turnover has a positive effect on stock returns. The control variable, namely leverage, has a negative effect on stock returns. Size and firm age as control variables have no effect on stock returns, while growth opportunity has a positive effect on stock returns.
Keywords : Stock Liquidity, Illiquidity, Turnover, Stock Return, Leverage, Size, Firm Age, Growth Opportunity
