Holding Period of the Energy Sector: Market Value Factor, Bid-Ask Spreads, and Variance Return

Abdul Latif*, Wiyarno Wiyarno, Erna Apriani

Abstract


The level of investor confidence in a company going public is by holding the company's shares for a long time, which improves the holding period of a share. Especially during a pandemic, it is a significant record for companies going public to maintain a reputation for their performance towards investors. During the pandemic, the energy sector became the target of investors because consumer levels increased sharply during the pandemic. This phenomenon makes the holding period in the energy sector worthy of research. Thus this study aims to analyze the effect of market value on the energy sector holding period, bid-ask spreads on the energy sector holding period, and variance return on the energy sector holding period. The data used in this study is secondary data in the form of data on the number of outstanding shares, daily data on the volume of stock trading transactions, the bid price and ask price of shares, and the average stock return of energy sector companies during 2021 with cross-sectional data types. The population and sample in this study are all go-public companies that belong to the energy sector on the Indonesian stock exchange, namely 76 companies on all accelerator boards with a period of 2021. The data analysis tool used is a multiple linear regression model to influence market value, bid-ask spreads, and variance returns in the energy sector holding period. The results of this study show that the market value variable has a positive effect on the holding period, and for the results of the bid-ask spreads variable, the variance return does not affect the holding period.

Full Text:

PDF

References


Arikunto S. (2019). Prosedur Penelitian. Rineka Cipta.

Arma, V. Y. (2013). Faktor Penentu Holding Period Saham LQ-45 di Bursa Efek Indonesia. Journal of Business and Banking, 3(2), 201–212. http://dx.doi.org/10.14414/jbb.v3i2.237

DeFusco, R. A., McLeavey, D. W., Pinto, J. E., Runkle, D. E., & Anson, M. J. P. (2015). Quantitative investment analysis. John Wiley & Sons.

Ghozali, I. (2016). Aplikasi analisis multivariete dengan program IBM SPSS 23.

Google Finance. (2022, October 11). IDX Sector Energy. Google Finance. https://www.google.com/finance/quote/IDXENERGY:IDX?hl=in&window=5Y

Hartono, J. (2017). Teori portofolio dan analisis investasi edisi kesebelas. Yogyakarta: Bpfe.

Indonesia Stock Exchange. (2022, January 2). Laporan Keuangan dan Tahunan. Indonesia Stock Exchange. https://www.idx.co.id/id/perusahaan-tercatat/laporan-keuangan-dan-tahunan/

Kuswati, *Ratih Tri, Yuniyanto, T., & Kurniawan, D. A. (2022). The Existence of Women in Harian Neraca Press 1989-1994. Riwayat: Educational Journal of History and Humanities, 5(2), 253–268. https://doi.org/10.24815/jr.v5i2.26793

Latif, A., Raharja, G., Salsabilla, J., & Yuliarti, A. (2022). Performa Rasio Keuangan Pada Harga Saham Sektor Energi dimasa Pandemi Covid-19. ADI Bisnis Digital Interdisiplin Jurnal, 3(2), 71–80. https://doi.org/10.34306/abdi.v3i2.833

Munawar, *Zaid, & Sucipto, S. (2022). Sultan Agung’s Cultural Insights: Reflections of Javanese Insights. Riwayat: Educational Journal of History and Humanities, 5(2), 341–350. https://doi.org/10.24815/jr.v5i2.27151.

Mustakim, F. S., Maslichah, M., & Junaidi, J. (2018). Analisis Pengaruh Bid-Ask Spread, Market Value, Variance Return Dan Dividend Payout Ratio Terhadap Holding Period Saham Biasa Pada Perusahaan Pertambangan Yang Terdaftar Di Bei Tahun 2015-2017. Jurnal Ilmiah Riset Akuntansi, 7(08).

Ningsih, T. R., & Asandimitra, N. (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), 1–10.

Nurlailah, *Nurlailah, & Ardiansyah, H. (2022). The Influence of the School Environment on Character Form Students in PKN Lessons. Riwayat: Educational Journal of History and Humanities, 5(2), 281–289. https://doi.org/10.24815/jr.v5i2.27347.

Putri, T. E., Icih, I., & Halimatusyadiah, N. (2021). THE EFFECT OF BID-ASK SPREAD, MARKET VALUE, VARIANCE RETURN, DIVIDEND PAYOUT RATIO AND INFLATION ON HOLDING PERIOD. ACCRUALS (Accounting Research Journal of Sutaatmadja), 5(02). https://doi.org/10.35310/accruals.v5i02.886.

Ratih, D., & Achadiyah, B. N. (2018). Pengaruh bid-ask spread, market value dan risk of return terhadap holding period saham (studi pada perusahaan foods and beverages yang go public di Bursa Efek Indonesia tahun 2010-2012). Nominal: Barometer Riset Akuntansi Dan Manajemen, 7(1), 55–88. 10.21831/nominal.v7i1.19359

Simanjuntak, T. A. (2018). Determinan Stock Holding Period (Studi pada Perusahaan Sektor Manufaktur di Bursa Efek Indonesia Periode 2013-2016). Jurnal Manajemen Bisnis Indonesia (JMBI), 7(4), 438–448.

Siregar, S. (2015). Metode penelitian kuantitatif: dilengkapi dengan perbandingan perhitungan manual & spss.

Sugiyono. (2017). Metode penelitian pendidikan pendekatan kuantitatif, kualitatif dan R&D. Alfabeta.

Susetyo, A., & Niati, F. (2019). Pengaruh Bid-Ask Spread, Market Value dan Variance Return Terhadap Holding Period Saham. Jurnal Ekonomi Dan Bisnis, 21(01), 1–12. http://dx.doi.org/10.31941/jebi.v21i01.773

Utami, N. L. A. Y., & Sedana, I. B. P. (2014). Pengaruh Spread, Market Value, Variance Return dan Dividend Payout Ratio terhadap Holding Period Saham. Sumber, 506, 1–327.

Yahoo Finance. (2022, October 13). Historical Data. Yahoo Finance. https://finance.yahoo.com/quote/%5EJKSE/history?p=%5EJKSE




DOI: https://doi.org/10.24815/jimps.v8i1.23551

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

JIMPS: Jurnal Ilmiah Mahasiswa Pendidikan Sejarah indexed by

sinta_logodoaj_logoDimensions_logoCROSSREF_logoROAD_logoPKP_Index_logoGoogle_Scholar_logogaruda_logoonesearch_logoBASE_logoWordcat_logo

___________________________________________________________
JIMPS: Jurnal Ilmiah Mahasiswa Pendidikan Sejarah

E-ISSN 2614-3658
P-ISSN 2964-7231

Published by History Education Department, Faculty of Teacher Training and Education, Universitas Syiah Kuala in collaboration with "Perkumpulan Prodi Pendidikan Sejarah Se- Indonesia"
W :https://jim.unsyiah.ac.id/sejarah
E : jimsejarah@usk.ac.id

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0