Net Volume of Market Maker Shares, Information Asymmetry, Company Fundamentals on Profitability; Fixed Effect Model Approach
Net Volume Saham Market Maker, Asimetri Informasi, Fundamental Perusahaan Terhadap Profitabilitas; Pendekatan Model Fixed Effect
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(1) * Amir Amir
Universitas Muhammadiyah Purwakarta
Indonesia
(2) Bambang Tjahjadi Universitas Airlangga Surabaya
Indonesia
(3) Iman Harymawan Universitas Airlangga Surabaya
Indonesia
(*) Corresponding Author
Abstract
Penelitian ini dimotivasi belum adanya peraturan tentang Market Maker yang menimbulkan asimetri informasi, dan permainan harga oleh market maker, khususnya market maker dalam grup perusahaan. Kasus kejahatan dibursa saham Indonesia melibatkan lebih dari satu perusahaan sekuritas sebagai market maker. Hasil riset sebelumnya terjadi gap terkait volume market maker, asimetri informai terhadap profitabilitas perusahaan. Studi ini menguji pengaruh Net Volume Saham market maker, Asimetri Informasi, Nilai Perusahaan dan Leverage terhadap Profitabilitas. Sampel penelitian menggunakan purposive sampling periode tahun 2015-2018. Analisis menggunakan model estimasi data panel Fixed Effect. Hasil penelitian mengkonfirmasi bahwa Net Volume Market Maker, asimetri informasi, dan nilai perusahaan berpengaruh positif signifikan terhadap profitabilitas perusahaan. Sedangkan Leverage gagal mengkonfirmasi pengaruh negatif terhadap profitabilitas. Variabel kontrol, PER yang berpengaruh negatif, sedangkan ROA dan Size berpengaruh positif terhadap profitabilitas perusahaan.
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References
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2022-07-31
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Amir, A., Bambang Tjahjadi, & Iman Harymawan. (2022). Net Volume of Market Maker Shares, Information Asymmetry, Company Fundamentals on Profitability; Fixed Effect Model Approach. Journal of Accounting Science, 6(2), 210-224. https://doi.org/10.21070/jas.v6i2.1641
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