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1
Weld, William C., Roni Michaely, Richard H. Thaler, and Shlomo Benartzi. "The Nominal Share Price Puzzle." Journal of Economic Perspectives 23, no. 2 (April 1, 2009): 121–42. http://dx.doi.org/10.1257/jep.23.2.121.
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The average nominal share prices of common stocks traded on the New York Stock Exchange have remained constant at approximately $35 per share since the Great Depression as a result of stock splits. It is surprising that U.S. firms actively maintained constant nominal prices for their shares while general prices in the economy went up more than tenfold. This is especially puzzling given that commissions paid by investors on trading ten $35 shares are about ten times those paid on a single $350 share. We review potential explanations including signaling and optimal trading ranges and find that none of the existing theories are able to explain the observed constant nominal prices. We suggest that the evidence is consistent with the idea that customs and norms can explain the nominal price puzzle.
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Yotenka, Rahmadi, and Fazano Fikri El Huda. "Implementasi Long Short-Term Memory Pada Harga Saham Perusahaan Perkebunan Di Indonesia." Unisda Journal of Mathematics and Computer Science (UJMC) 6, no. 01 (June 30, 2020): 9–18. http://dx.doi.org/10.52166/ujmc.v6i01.1927.
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The decline and increase in the price of shares of plantation companies is a problem for investors in making decisions to buy or sell shares. Factors influencing the movement of plantation stock prices include CPO commodity price fluctuations, world oil price fluctuations, Rupiah exchange rate fluctuations, government regulations and policies, demands from importing countries, and climate. Forecasting stock prices is expected to help investors to deal with uncertainty in the movement of plantation stock prices. This study applies the Long Short-Term Memory (LSTM) to predict the stock prices of plantation companies using SSMS, LSIP, and SIMP share price data from the period 1 July 2014 - 22 July 2019. Based on the results of the study it was found that the best LSTM model on SSMS shares by using the RMSProp optimizer and 70 hidden neurons produced an RMSE value of 21,328. Then the best LSTM model on LSIP stock by using Adam optimizer and 80 hidden neurons produces an RMSE value of 33,097. Whereas the best LSTM model on SIMP shares using Adamax optimizer and 100 hidden neurons produced an RMSE value of 8,3337.
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Firman Setiawan and Desi Ismi Rojasari. "PENGARUH RETURN ON ASSET (ROA), RETURN ON EQUITY (ROE) DAN EARNING PER SHARE (EPS) TERHADAP HARGA SAHAM SYARIAH." LISAN AL-HAL: Jurnal Pengembangan Pemikiran dan Kebudayaan 13, no. 2 (December 16, 2019): 259–80. http://dx.doi.org/10.35316/lisanalhal.v13i2.596.
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Sharia share prices (including conventional shares) always fluctuate due to the interaction of demand and supply of shares in the capital market. Rising levels of demand for shares will trigger a rise in stock prices, and vice versa. However, aside from supply and demand factors, it turns out that there are other factors that are also identified as being capable and potentially affecting stock prices, particularly Shariah share prices, namely Return On Assets (ROA), Return On Equity (ROE), and market ratios namely Earning Per Share (EPS). So to prove whether the financial ratios really have an influence on sharia stock prices, the authors conducted a quantitative analysis with ROA, ROE and EPS as X variables and Shariah stock prices as Y variables. The data used in this test / analysis are Return On Assets (ROA), Return On Equity (ROE) data, Earning Per Share (EPS) and Syariah stock prices from PT. Aneka Tambang Persero Tbk 2013-2017. From the analysis that has been done, it is known that partially ROA has no effect on the Shariah share price caused by the lack of companies in earning profit, ROE has no effect on the Sharia share price caused by the lack of net profit from their own capital and the lack of business sales profits, and EPS positive effect on sharia stock prices. Whereas simultaneously, ROA, ROE and EPS have a positive influence on the Shariah stock price.
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Sproul, Thomas W., Jaclyn D. Kropp, and Kyle D. Barr. "The pricing of community supported agriculture shares: evidence from New England." Agricultural Finance Review 75, no. 3 (September 7, 2015): 313–29. http://dx.doi.org/10.1108/afr-04-2015-0020.
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Purpose – Community supported agriculture (CSA) programs allow consumers to buy a share of a farm’s production while providing working capital and risk management benefits for farmers. Several different types of CSA arrangements have emerged in the market with terms varying in the degree to which consumers share in the farm’s risk. No-arbitrage principles of futures and options pricing suggest that CSA shares should be priced to reflect the degree of risk transfer. The paper aims to discuss these issues. Design/methodology/approach – The authors evaluate the three most common share types using a cross-sectional data set of 226 CSA farms from New England to determine if there is empirical evidence in support of the theoretical price relationship between share types. Findings – The degree of risk transfer from farmers to consumers has a significant effect on the share price. There are statistically significant returns to scale and higher prices for organics. Farm characteristics and product offerings predict which type of shares is offered for sale. Research limitations/implications – The data set does not contain information pertaining to actual deliveries, expected deliveries, variance of expected deliveries, or covariance information; thus differences in share prices could be due to differences in these uncontrolled factors. Originality/value – This paper provides empirical evidence that CSA share prices reflect the degree of risk transferred from the producer to the consumer. It also highlights challenges in conducting empirical work pertaining to CSA contracting.
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Kusuma Negara, Iwan, and Winda Paramitha. "ANALISIS PENGARUH JUMLAH SAHAM BEREDAR, HARGA SAHAM DAN PERSENTASE SAHAM PUBLIK TERHADAP LIKUIDITAS SAHAM PADA PERUSAHAAN MANUFAKTUR SUB SEKTOR INDUSTRI MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA." Distribusi - Journal of Management and Business 5, no. 2 (March 12, 2018): 25–44. http://dx.doi.org/10.29303/distribusi.v5i2.24.
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ABSTRACTThis research aims to analyze the influence of the number of shares outstanding, share price, and percentage of public shares on stock liquidity of food and beverage manufacturing companies listed on Indonesian Stock Exchange in the period of 2010-2015. Type of research used is associative research with quantitative approach. The sampling technique is using purposive sampling. The analytical tool used multiple linear regression analysis where previously tested the classical assumption. The result of this research indicates that partially the number of shares outstanding has positive and significant influence on stock liquidity. While share price, and percentage of public shares partially have positive influence not significant on stock liquidity. The value of adjusted R square shows that the number of shares outstanding, share price, and percentage of public shares are able to explain the stock liquidity equals to 64.8 per cent. Another finding in this research shows that the number of outstanding shares has the most dominant influence on stock liquidity.Keywords: Number of shares outstanding, share price, percentage of public shares, and stock liquidity.
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Kusuma Negara, Iwan, and Winda Paramitha. "ANALISIS PENGARUH JUMLAH SAHAM BEREDAR, HARGA SAHAM DAN PERSENTASE SAHAM PUBLIK TERHADAP LIKUIDITAS SAHAM PADA PERUSAHAAN MANUFAKTUR SUB SEKTOR INDUSTRI MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA." Distribusi - Journal of Management and Business 5, no. 2 (March 12, 2018): 25–44. http://dx.doi.org/10.29303/jdm.v5i2.24.
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ABSTRACTThis research aims to analyze the influence of the number of shares outstanding, share price, and percentage of public shares on stock liquidity of food and beverage manufacturing companies listed on Indonesian Stock Exchange in the period of 2010-2015. Type of research used is associative research with quantitative approach. The sampling technique is using purposive sampling. The analytical tool used multiple linear regression analysis where previously tested the classical assumption. The result of this research indicates that partially the number of shares outstanding has positive and significant influence on stock liquidity. While share price, and percentage of public shares partially have positive influence not significant on stock liquidity. The value of adjusted R square shows that the number of shares outstanding, share price, and percentage of public shares are able to explain the stock liquidity equals to 64.8 per cent. Another finding in this research shows that the number of outstanding shares has the most dominant influence on stock liquidity.Keywords: Number of shares outstanding, share price, percentage of public shares, and stock liquidity.
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Darmantyo, Dimas Ari, and Shelva Kalay Shelwin. "Analysis of the effects of earnings ratio per share, price earnings and return on equity ratio upon the change of shares price at PT. Telekomunikasi Indonesia Tbk years of 2008 - 2017." Management Journal of Binaniaga 4, no. 2 (December 30, 2019): 11. http://dx.doi.org/10.33062/mjb.v4i2.332.
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This research has tested some financial ratios of Earning Per Share, Price Earning Ratio and Return On Equity upon the Change of Shares Price at telecommunication company sector for the period of 2008 to 2017 to know the significance of those ratios, so that, it can be used by the investors to make a decision before investing their money. By having Time Series data of 2008 – 2017, this research has found out that the variables of Earning Per Shares (EPS) and Price Earning Ratio (PER) have significantly affected the change of shares price, but Return On Equity (ROE) has not significantly affected it. This research has indicated that the three independent variables (EPS, PER and ROE) have significantly affected shares price change. Keywords: Finance Ratio, Return On Equity, Earning Per Share, Price Earning Ratio and price of shares
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Rimenda, Tetty, and R. Elly Mirati. "PERAN HARGA PATOKAN (ANCHOR PRICE) TERHADAP KEPUTUSAN UNTUK MEMBELI SAHAM." Epigram 17, no. 2 (November 23, 2020): 163–68. http://dx.doi.org/10.32722/epi.v17i2.3464.
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The purpose of this study is to examine the role of anchor prices in consumer decision making in buying shares. When buying shares someone has a benchmark or reference. This study uses positive information about the issuer as a reference to buy shares. The research method used is the 2X2 2 experimental method (Price Display: Regular Price vs. Price + Info) x 2 (Stock Type: BKSL vs. WIKA. Participants are students who are also investors who are used to making transactions in the capital market. that information plays an important role for investors to decide to buy shares Investors prefer stocks whose prices are accompanied by information about the issuer.When expensive and cheaper shares are given information, it turns out investors prefer shares with high prices that are informed about the issuer.
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S, POORNIMA, and CHITRA V. "An empirical analysis of impact of bonus issue on share price with reference to selected companies in india." Journal of Management and Science 1, no. 3 (December 30, 2012): 198–202. http://dx.doi.org/10.26524/jms.2012.22.
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This study examines the impact of bonus issue on share price of selected scrip’s during February 2010 to February 2011 listed on National Stock Exchange, India. When additional shares are allotted to existing shareholders without being paid any additional payment for them, it is known as bonus shares. Bonus shares are issued by a company when it intends to pay dividend by issuing shares. Companies giving bonus shares are regarded very highly by investor fraternity. Very few studies have observed bonus issue announcement and share prices in India and this study is an attempt to fill the gap. The present study is an empirical analysis to examine the impact of bonus announcement on share prices. Impact has been analyzed between 7 days from the date of bonus announcement. The result divulges that there is no significant impact on bonus announcement between pre-post conditions considered for this study.
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Putri, Hana Tamara. "Covid 19 dan Harga Saham Perbankan di Indonesia." Eksis: Jurnal Ilmiah Ekonomi dan Bisnis 11, no. 1 (July 7, 2020): 6. http://dx.doi.org/10.33087/eksis.v11i1.178.
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This study examines whether there are differences in the prices of Top Ten shares of the Banking Company with the largest assets in Indonesia in three periods, namely the share price before Indonesia contracted Covid 19, the share price at the time of the announcement of the first case of Covid 19 in Indonesia and the Post-3 Month Share Price announcement of the Covid 19 case in Indonesia. Processed by means of the Paired Sample T test analysis results show that during the study period there were significant differences between the stock prices in the three periods.
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Sari, Wahyuni Rusliyana, and Anita Roosmalina Matusin. "Net Income and CSR Disclosure as Predictors Shares Price and Return per Share." Jurnal Dinamika Manajemen 10, no. 1 (October 6, 2019): 81–91. http://dx.doi.org/10.15294/jdm.v10i1.18946.
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The purpose of this study was to determine the factors that influence shares price and return per share of 63 manufacturing companies period 2012-2016. The research method is multiple linear regression analysis, which done by the classical assumption test. The results of the research in the first model show that there is a positive influence between book value per share, net income, CSR social, and CSR report on shares price. While in the second model using the enter method shows delta net income and delta CSR total had a positive effect on return per shares, and delta CSR environment has a negative effect on return per share, while those using stepwise method delta CSR social and delta CSR net income had a positive impact on return per share. The contribution of this study is to provide information to stakeholders that CSR environment does not have an important role in shares prices, prioritizing the interests of shareholders, which means that the CSR environmental measurement instruments focus on disclosure, and ignore fundamental aspects, namely environmental liabilities. The implication is that the regulator, investor, and profession needs to more pay attention to CSR environmental.
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Mantik, Mikha Q. H. M., Dolina L. Tampi, and Wilfried S. Manoppo. "Pengaruh Earning Per Share Terhadap Harga Saham Perusahaan Manufaktur Sektor Barang Konsumsi yang Terdaftar Di Bursa Efek Indonesia Periode 2015-2018." JURNAL ADMINISTRASI BISNIS 9, no. 2 (July 11, 2019): 1. http://dx.doi.org/10.35797/jab.9.2.2019.23895.1-8.
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This research aims to test the partially influence, direction, and the significance of EPS against stock prices in the sector of consumer goods manufacturing company listed in IDX 2015-2018 Period. Financial information functions as a means of information, management accountability tool to the owner of the company, success indicators against the depiction of the company and as a material consideration in decision making. One of the indicators measuring share price i.e.: Earning Per Share. Earnings Per Share (EPS) to measure the company's ability to generate profits per shares. And the stock price is the closing price of the stock market during the period of observation for each type of stock. This research method is associative causal. Of the total population, conducted the withdrawal of samples as many as 29 companies with purposive sampling method, a sampling method that takes an object with certain criteria. Data analysis was done of simple linear regression analysis and hypothesis testing using the analysis of the coefficient of determination and test results showed t. EPS positive and significant effect against the price of the shares, with a value of the coefficient of determination (R 2) 0.435 and value 0.000 probability less than 0.05. Based on the results of test data analysis research, it can be seen that the level of variable earnings per shares or Earning Per Share (EPS) have a positive influence significantly to stock prices in the sector of consumer goods manufacturing company in Indonesia Stock Exchange.
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Gomaa A. Mohamed, Ghada. "The Correlation between the Value of Mortgage-Backed Securities & the Value of FTSE 100 Shares Price Index: September 2013 Prices." Applied Economics and Finance 8, no. 2 (February 8, 2021): 17. http://dx.doi.org/10.11114/aef.v8i2.5156.
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Using the latest information and prices for mortgage-backed securities in September 2013 this analytical piece tests the correlation between the value of these instruments and the value of the FTSE 100 share price index.The correlation between the value of mortgage-backed securities and the value of FTSE 100 shares price index.
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Heaney, Richard A., John G. Powell, and Jing Shi. "Share Return Seasonalities and Price Linkages of Chinese A and B Shares." Review of Pacific Basin Financial Markets and Policies 02, no. 02 (June 1999): 205–29. http://dx.doi.org/10.1142/s0219091599000138.
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This paper investigates share price linkages between Chinese corporations' foreign-designated B shares and the numerically dominant domestic A shares of the same companies. Chinese share return seasonalities are examined and the suggested satellite trading relationships are subsequently tested in order to provide an understanding of the linkages between A and B shares. The seasonality results along with arbitrage activity in the market for Chinese A and B shares suggest that a dominant-satellite relationship is likely to exist whereby the A share market is the dominant market for price formation and the B share market is the satellite. The paper identifies significant price linkages from the A to B share markets which are nevertheless weaker in an economic sense than might be expected.
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Munoz Jr, Jose Emilio. "An Alternative Explanation for Stock Price Increases among the S&P 500 following a Stock Buyback Announcement." Journal of Accounting and Finance in Emerging Economies 3, no. 2 (June 30, 2017): 137–46. http://dx.doi.org/10.26710/jafee.v3i2.92.
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Purpose: The purpose of this paper is to investigate an alternative, more basic explanation for stock price increases among the Standard & Poor's 500 Index following a stock buyback announcement than the signaling theory offered in current literature.
Methodology: Three related sets of data were collected and analyzed for 1,858 individual S&P 500 stock buyback announcements occurring during the period 2005-2015: First, the actual stock prices for 6 different times from the buyback announcement date (t) to one year after (t+365); second, the S&P 500 Index for the same dates; and third, the mathematical price of the stock resulting from the reduction in buyback shares.
Results: The results demonstrate that the greatest contributor to the post-buyback-announcement share price increase is due to the combination of general market moves (S&P 500 Index) and the mathematical reduction in shares occurring from the buyback. No support is found for the signaling theory.
Implication: This research presents a conceptually yet empirically supported framework to describe the significance of the mathematical reduction in shares as a contributing factor in the post-buyback-announcement share price increase as compared to alternatives offered in the current literature. This paper is particularly useful for those who study stock market behavior and the causes of the share price increase that follow a stock buyback announcement.
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Frydrych, Sylwia. "The Delisting of a Company from the Warsaw Stock Exchange as a Result of the Cancellation of the Dematerialisation of Shares – Tender Offer Price vs. IPO Price." Annales Universitatis Mariae Curie-Skłodowska, sectio H – Oeconomia 54, no. 1 (April 20, 2020): 31. http://dx.doi.org/10.17951/h.2020.54.1.31-40.
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<p>Theoretical background: The growth in the number of companies delisted from the Warsaw Stock Exchange (WSE), as a result of the cancellation of the dematerialisation of shares, has become a reason for considerations regarding the share price in tender offers addressed to shareholders who have held company securities since the Initial Public Offering (IPO).</p><p>Purpose of the article: The goal of this study was to evaluate whether the price in tender offers of the shares of companies which had finally been excluded from trading on the WSE as a result of the cancellation of the dematerialisation of shares would ensure a positive rate of return for shareholders who have held the shares since this company’s debut on the regulated market of the WSE.</p><p>Research methods: Public tender offers, announced between 2012 and 2018 on the regulated market of the WSE have been analysed. The analysis covered prices of shares of new listings on the WSE and share prices in the tender offers of 213 companies, out of which 55 companies have been excluded from trading on the regulated market of the WSE as a result of the cancellation of the dematerialisation of shares.</p><p>Main findings: The results of the research indicate that more than a half of the shareholders who have held the securities of companies in their portfolio since their debut, have suffered losses after companies have been excluded from trading on the WSE as a result of the cancellation of the dematerialisation of shares. Only 11% of the examined companies have generated more than double profit for investors compared with the issue price during their IPO. This research is one of the few studies on the Polish stock market to the best of the author’s knowledge.</p>
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Parvi, Rafał. "Valuation of Shares and Fair Value of the Companies Listed on the Wig20: Quoted On the Warsaw Stock Exchange in Poland within 2011-2015." International Journal of Management Science and Business Administration 2, no. 2 (2014): 47–53. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.22.1005.
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This paper examines share price of the companies listed on the WIG-20 and their fair value between 2005 and 2015. Data from 2005 to 2015 were collected from the Stooq.pl (Polish portal of shares). Two hypotheses are tested: (1) value of the shares based on the market price; (2) value of the shares as the fair value of shares.
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Soepriyanto, Budi. "Comparative Analysis of K-NN and Naïve Bayes Methods to Predict Stock Prices." International Journal of Computer and Information System (IJCIS) 2, no. 2 (May 29, 2021): 49–53. http://dx.doi.org/10.29040/ijcis.v2i2.32.
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Abstract— Buying and selling shares is a transaction that is widely carried out at this time, especially buying and selling stocks online which are widely available in the market, to make buying and selling shares require ability or knowledge so that the buying and selling of shares are profitable, to be able to help economic players predict prices. Profit shares or not purchased in the future, this research will conduct stock price predictions using classification methods, namely K-Nearest Neighbor and Naïve Bayes, to predict the stock price data used for one month in minute levels totalling 39065 data, based on prediction results. The highest results obtained were using Naïve Bayes with an accuracy value of 69.38 then the K-Nearest Neighbor method with a K = 5 value of 67.25%, based on these results it can be concluded that the use of the K-Nearest Neighbor and Naïve Bayes methods for prediction share price not yet owned I high accuracy, so it can be combined with other methods or by using other variable predictors.
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Hadi Santsoso, Bambang. "FAKTOR-FAKTOR FUNDAMENTAL MIKRO: PERTUMBUHAN AKTIVA, PERTUMBUHAN TINGKAT PENGEMBALIAN AKTIVA, RASIO UTANG, RASIO LANCAR, LABA BERSIH PER SAHAM, RASIO HARGA-LABA BERSIH PER SAHAM & HASIL (PENDAPATAN) SAHAM YANG BERPENGARUH TERHADAP HARGA SAHAM INDUSTRI MAKANAN & MINUMAN PADA BURSA EFEK DI INDONESIA." EKUITAS (Jurnal Ekonomi dan Keuangan) 9, no. 1 (January 1, 2007): 35. http://dx.doi.org/10.24034/j25485024.y2005.v9.i1.2373.
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The population of this research is shares of the issuers (go public companies) in the food and beverage industry listed on the stock exchange in Indonesia. The research period is 4 years (from year 1998 to2001), and its sample consists of 10 shares of issuers in the industry of food and beverage. The sample was taken from 18 shares of issuers, with the implementation of purposive or non-random sampling technique. The capital market roles are so important, and therefore, ideally, the analysis with the focus on factors and on dominant factors influenced price of shares is really needed to be carried out through a detail research. Focus of this research is on the impact of micro fundamental factors towards price of shares of the food and beverage industry listed on the stock exchange in Indonesia, especially after economy and monetary crisis happened in 1997 in Indonesia. Variables studied in the research are price of shares, and asset growth, return on asset growth, debt ratio, current ratio, earning per share, price earning ratio, and also dividend yield. The source of data is secondary data obtained from the Surabaya and Jakarta Stock Exchanges, as well as Capital Market Reference Center. The model used for this research is multiple linier regressionanalysis model. Result of research concluded that the changes on price of shares of the food and beverage industry listed on the stock exchange in Indonesia were influenced simultaneously by asset growth, return on asset growth, debt ratio, current ratio, earning per share, price earning ratio, and dividend yield. Meanwhile, the changes on price of shares of the food and beverage industry listed on the stock exchange in Indonesia was influenced partially by only earning per share.
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Olbrich, Rainer, and Hans Christian Jansen. "Price-quality relationship in pricing strategies for private labels." Journal of Product & Brand Management 23, no. 6 (September 9, 2014): 429–38. http://dx.doi.org/10.1108/jpbm-06-2014-0627.
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Purpose – This article aims to close some research gaps by differentiating between brand types and price tiers. Many consumers perceive high prices as signals of high quality, yet researchers tend to find only low average correlations between price and objective quality. Previous studies do not account for market shares and paid prices though. Design/methodology/approach – A German consumer panel with more than 30,000 households reveals market shares and paid prices. Combining these data with product test ratings, the authors evaluate price-quality relationships with Spearman’s rank correlation coefficients and distinguish food from non-food products, national brands and private labels and three price tiers. Findings – High price-quality correlations for national brands and non-food private labels indicate that a higher price signals greater product quality. For food private labels, negative correlation coefficients inhibit the use of price as a quality indicator. The price-quality relationship for food private labels implies strong competition among brand owners, based on the price and quality of their products. Originality/value – This article investigates price-quality correlations by accounting for paid prices and product market shares; it also reveals differences across food and non-food products, national brands and private labels and different price tiers against the background of competition strategies. By addressing when consumers use price as a quality indicator, it outlines important managerial implications for manufacturers, retailers and consumers.
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Hong, Philip K., Tao Ma, and Guochang Zhang. "Accruals Quality and Cost of Capital: Evidence from the Chinese Stock Market." Journal of International Accounting Research 18, no. 1 (July 1, 2018): 71–95. http://dx.doi.org/10.2308/jiar-52216.
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ABSTRACT We seek evidence of a link between accruals-based earnings quality (EQ) and cost of capital by examining two classes of shares traded in China's segregated markets prior to 2001.The A- and B-shares introduced respectively for domestic and foreign investors carry identical cash flow rights, but B-shares are traded at deep discounts relative to A-shares. We predict that whereas the differential informedness of domestic versus foreign investors causes A- and B-share prices to diverge, high-quality public reporting serves to narrow the information and hence price gaps. Consistent with our predictions, we find that EQ is negatively related to the A-B share price differential and that the negative effect is more pronounced for firms with large disparities in informedness between the markets. We further find that this EQ effect vanishes after the new policy in 2001, which permits domestic investors also to trade B-shares and consequently reduces the inter-market information gap. By employing this unique setting, the study circumvents some of the research design limitations in prior studies, which enables us to better identify the pricing effect of accruals quality. JEL Classifications: M41; G12.
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Cronjé, Tom, and Johan de Beer. "Share pricing of South African banking groups - Importance of efficiency and earnings per share." Corporate Ownership and Control 8, no. 1 (2010): 679–88. http://dx.doi.org/10.22495/cocv8i1c7p2.
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Previous research findings indicate that the relevant performance of firms is one way or another, reflected in the market prices of shares. Such research is focussed on different performance components of firm individual risk (FIR), but none of the research segregates systematic and unsystematic risk of the shares to levels where the relative FIR components that were researched could be quantified in proportion to FIR level share price determinants. This brings about the objective of this research to segregate the pricing of shares in terms of market and firm specific factors with the intention to quantify the association of relative bank efficiency and earnings performance with the pricing of South African bank shares. The study draws a parallel between the actual significance of measured efficiency and earnings per share (EPS) with share pricing and quantified FIR. Within this context the comparative significance of measured efficiency and EPS are explored to investigate the Efficient Market Hypothesis (EMH) prevalence. An analysis of efficiency and share price relationships at different financial year time points shows a semi-strong form of the EMH in both the pre-Global Financial Crises (GFC) and GFC periods. This indicates that the application of an active investment strategy by investors based on efficiency measures may be beneficial. The impact of EPS as contributing determinant of share prices increased during the GFC period compared to the pre-GFC period, but reflects a strong form of the EMH.
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Kim, Woojin, Jieun Im, and Youngsoo Choi. "Effect of Including Treasury Shares in Market Capitalization, EPS, and PER: Evidence from Korea." Korean Journal of Financial Studies 49, no. 2 (April 30, 2020): 249–84. http://dx.doi.org/10.26845/kjfs.2020.04.49.2.249.
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Market capitalization (cap) is typically determined by multiplying price per share by the number of outstanding shares, excluding treasury shares. Nevertheless, a common practice in Korea has been, and still is, to include treasury shares in market cap. Such practice not only inherently overstates the true magnitude of the market cap by the amount of repurchased shares but also distorts earnings per share (EPS), price earnings ratio (PER), and other per share indicators or price multiples. This study is the first to examine how the practice of including treasury shares affects market cap and other indicators. Our results suggest that the reported market cap is overstated by roughly 6% on average in the Korean capital market. EPS is understated by 3.6%, and PER is overstated by 4.2%. We also recreate 5x5 test portfolios based on the Fama-French three factor model after appropriately excluding treasury shares, and find that up to 20% of constituent stocks may be different for certain test portfolios. These results suggest that Korean academics and practitioners should seriously reconsider the current practice of including treasury shares in calculating market cap and start excluding them to be more consistent with the theory and international practice.
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Muniroh, Indah, and Anik Yuliati. "Do Cash Flow and Accounting Profit Information Affect Stock Prices?" Journal of Accounting and Strategic Finance 4, no. 1 (June 30, 2021): 108–21. http://dx.doi.org/10.33005/jasf.v4i1.199.
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ABSTRACT
This study aims to determine the effect of cash flow statement information and accounting profit on stock prices. The object of this research is a food & beverage sub-sector manufacturing company listed on the Indonesia Stock Exchange in 2015-2019. The sampling technique used a purposive sampling technique with ten samples of financial statements that meet the criteria. The analysis technique uses the help of Partial Lease Square (PLS) with SmartPLS 3.0 Software. The study results show that the Cash Flow Statement of operating and funding information does not affect stock prices. On the other hand, information on the investing Cash Flow Statement and accounting profit affect stock prices. The more investors intend to buy or keep shares; the stock price will increase. Vice versa, if the number of investors who intend to sell or release shares increases, the share price will decrease. Based on these results, it is suggested that investors in deciding on selling or buying stock shares may pay more attention to the information from investing cash flow and accounting profit.
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Arviana, Nerissa, and Narumi Lapoliwa. "Pengaruh ROA, DER, EPS, PER, DAN PBV Terhadap Harga Saham." Jurnal ULTIMA Accounting 5, no. 2 (December 1, 2013): 1–16. http://dx.doi.org/10.31937/akuntansi.v5i2.149.
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The purpose of this research was to analyze the effect of financial ratio towards share price. Financial ratio can be used by investor to analyze the share price before investor made an investment decision. Financial ratio used in this research were profitability ratio measured by return on assets and earning per shares, solvability measured by debt to equity ratio, and market ratio measured by price earning ratio and price to book value. The samples used in this research were 25 companies. These samples were the companies that listed at Indonesia Share Exchange (IDX) for period 2009 until 2011 and meet the criteria sampling of this study. The samples were determined based on purposive sampling method. Data that used in this research was secondary data, such as share price and financial reports. The results of this research were (1) there were significant effect of debt to equity ratio, earning per shares, and price book to value ratio towards share price (2) there was no significant effect of return on assets and price earning ratio towards share price.
Keyword: Debt to Equity Ratio, Earning Per Share, Financial Ratio, Price Earning Ratio, Price to Book Value, Return On Assets, Share Price
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WIJAYA, I. KETUT KUSUMA. "ANALISIS PENGARUH RASIO KINERJA KEUANGAN TERHADAP HARGA SAHAM PT BANK MANDIRI PERSERO PERIODE 2014 – 2019." GANEC SWARA 15, no. 1 (March 6, 2021): 963. http://dx.doi.org/10.35327/gara.v15i1.198.
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Share prices occur according to market supply and demand. Demand for shares is influenced by investors' expectations of the issuing company. The better the financial performance of a company, the higher investor expectations will be. This results in the shares becoming increasingly attractive and the share price will be higher. Conversely, if a company's financial performance is not good, investors' expectations will be low, so investors are not interested in investing in these shares. This causes the stock price to fall. The company's financial performance can be done by analyzing financial reports. This study aims to determine the effect of financial performance ratios on stock prices. The analytical tool used is multiple linear regression and hypothesis testing is done by partial test (T-test) and simultaneous test (F-test) and standardized coefficient test. Based on the research results that simultaneously the financial ratio variable does not have a significant effect on stock prices. Meanwhile, only partially the NPM variable affects stock prices. Meanwhile, the financial performance variables (CAR, ROA, and LDR) do not affect stock prices. For the adjusted R2 value of 99.80%, it means that this value means that the variation of the independent variable which can explain the dependent variable is 99.80% and the remaining 2% is the variation of other variables that are not explained in the model.
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Bartling, Björn, and Andreas Park. "How Syndicate Short Sales Affect the Informational Efficiency of IPO Prices and Underpricing." Journal of Financial and Quantitative Analysis 45, no. 2 (February 19, 2010): 441–71. http://dx.doi.org/10.1017/s0022109010000128.
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AbstractWhen a company goes public, it is standard practice that the underwriting syndicate allocates more shares than are issued. The underwriter thus holds a short position that it commonly fills by aftermarket trading when market prices fall or, when prices rise, by executing the so-called overallotment option. This option is a standard feature of initial public offering (IPO) arrangements that allows the underwriter to purchase more shares from the issuer at the original offer price. We propose a theoretical model to study the implications of this combination of short position and overallotment option on the pricing of the IPO. Maximizing the sum of both the profits from their share of the offer revenue and the potential profits from aftermarket trading, we show that underwriters strategically distort the offer price. This results either in exacerbated underpricing when favorably informed underwriters lower prices to secure a signaling benefit, or in informationally inefficient offer prices when underwriters pool in offer prices irrespective of their information.
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Gautam, Anamol, and Nar Bahadur Bista. "Factors Affecting Share Price of Nepalese Non-Life Insurance Companies." Nepalese Journal of Insurance and Social Security 2, no. 2 (December 31, 2019): 22–31. http://dx.doi.org/10.3126/njiss.v2i2.31826.
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This study examines the factors affecting the share price of Nepalese non-life insurance companies. This study is based on secondary data of 15 non-life insurance companies with 105 observations for the period from the fiscal year 2011/12 to 2017/18. The result shows that firm size is positively related to market price of share and price earnings ratio. It indicates that larger firm size leads to increase in market price of share and price earnings ratio. However, the study shows that inflation is negatively related to market price of share and price earnings ratio. The study also shows that dividend per share and return on assets are negatively related to the market price of share and price earnings ratio. Similarly, earnings per share have negative relationship with market price of share and price earnings ratio. The study concludes that the increase in return on assets and earnings per shares do not explain the variation in stock price in Nepalese non-life insurance companies. Nepal is one of the emerging economy; the determinants identified will provide knowledge to the potential investors about the key factors affecting share prices in the country and accordingly assist them in optimizing their investment strategy. The knowledge of the factors and their possible impact on share prices is highly appreciable as it would help investors make wise investment decisions and enable firms to enhance their market value.
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Acharya, Niraj, and Sumit Pradhan. "Relationship between trading volume, stock return and return volatility: A case of Nepalese insurance companies." Nepalese Journal of Insurance and Social Security 2, no. 2 (December 31, 2019): 32–41. http://dx.doi.org/10.3126/njiss.v2i2.31827.
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This study examines the factors affecting the share price of Nepalese non-life insurance companies. The knowledge of the factors and their possible impact on share prices is highly appreciable as it would help investors make wise investment decisions and enable firms to enhance their market value. This study is based on secondary data of 15 non-life insurance companies which are listed in Nepal stock exchange. The study covers seven years period from the fiscal year 2011/12 to 2017/18. The result shows that firm size is positively related to market price of share and price earnings ratio. It indicates that larger firm size leads to increase in market price of share and price earnings ratio. However, the study shows that inflation is negatively related to market price of share and price earnings ratio. The study also shows that dividend per share and return on assets are negatively related to the market price of share and price earnings ratio. Similarly, earnings per share have negative relationship with market price of share and price earnings ratio. The study concludes that the increase in return on assets and earnings per shares do not explain the variation in stock price in Nepalese non-life insurance companies. Nepal is one of the emerging economy; the determinants identified may provide knowledge to the potential investors about the key factors affecting share prices in the country and accordingly assist them in optimizing their investment strategy.
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Ogege, Samson. "The Influence of Dividend Payments on Share Price in Manufacturing Firms Quoted on the Nigerian Stock Exchange." EMAJ: Emerging Markets Journal 10, no. 2 (April 27, 2021): 63–69. http://dx.doi.org/10.5195/emaj.2020.196.
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This paper examined the influence of dividend payments on the price of share of quoted manufacturing companies in Nigeria employing panel data with 125 data observations spanning from 2014-2018. A purposeful sampling technique was used to select twenty-five manufacturing companies investigated from the Nigerian stock market. A linear regression model was specified and was further broken down into a bivariate regression model and the method of least square regression was adopted for data analysis. The outcome of the panel regression indicated that, dividend per share has a positive influence on the price of shares of high and low geared manufacturing firms; earnings per shares positively influence the shares price of both dividend and non-dividend paying manufacturing companies; dividend yield show an adverse effect on the share price of new and old manufacturing companies; credit risk was found to positively impact share price of big manufacturing companies, but adversely affect the share price of small manufacturing companies in Nigeria. In view of the outcomes of the analysis, the study therefore recommended that a conducive and favorable business environment should be created by the government for both old and new manufacturing companies in Nigeria to thrive. Also, credit risk should be effectively and efficiently managed by small manufacturing companies in particular in order to eliminate its adverse influence on their share price.
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Demensky, V. I., and A. B. Usov. "MODELING OF PRIMARY ISSUES OF SHARES OF A JOINT STOCK COMPANY." Ecology. Economy. Informatics.System analysis and mathematical modeling of ecological and economic systems 1, no. 5 (2020): 40–44. http://dx.doi.org/10.23885/2500-395x-2020-1-5-40-44.
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At present, in contrast to lending and investment services, models for raising additional capital for a company by issuing shares and then placing them on the securities market are becoming more popular. This article discusses the model of issuing shares for a joint-stock company (JSC) and the subsequent purchase of their traders. The model has a two-level hierarchical structure, where the leading party is the JSC, and the lead, in turn, is the shareholders. The company determines the number of shares and their issue price. Depending on the total capitalization of the company and the nominal share price, the company’s revaluation coefficient (P/BV) is formed. This coefficient affects the General mood of shareholders in the market, who use the sale or purchase of shares to change the total capitalization of the company. The price for the current time period consists of the algebraic sum of the price for the previous time period and the total capitalization, thus, through changes in the total turnover of funds, shareholders are able to influence the share price. The main income for a shareholder is the difference between the purchase and sale of shares, as well as the payment of its dividends. For the company, the task is to maximize profits by buying shares on the stock exchange, as well as minimize losses when selling them. After describing the target functions and applying the simulation method, the optimal issue price for a fixed number of shares was found for the company. Unfortunately, the market does not lend itself to accurate forecasts due to the large influence of the human factor. Very often, shareholders can act against the rational and most profitable strategy. Despite this, this model will help to approximate the behavior of players in the stock market in subsequent development, thereby facilitating the study of price movements on the stock exchange.
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Pong, Eddie, Peter Gunthorp, and Alex Chen. "Capturing the Chinese A-Shares and H-Shares Price Anomaly." Journal of Index Investing 7, no. 4 (February 28, 2017): 60–74. http://dx.doi.org/10.3905/jii.2017.7.4.060.
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Mariko, Batista J., and Theuri J. M. "EFFECT OF VOLUME OF SHARES TRADED ON SHARE PRICES OF FIRM’S LISTED ON NAIROBI SECURITY EXCHANGE." American Journal of Finance 1, no. 3 (January 17, 2017): 71. http://dx.doi.org/10.47672/ajf.157.
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Purpose: The purpose of this study was to establish the effect of volume of shares traded on share prices of firm’s listed on Nairobi Security Exchange.Methodology: The study was carried out using descriptive research design. The target population consisted all companies listed on the NSE, and had previously done a rights issue. Convenient sampling technique was used to identify firms that had rights issue in the period under study. Secondary data was collected using a schedule developed by the researcher. Data analysis was done using events study methodology and regression modelling.Results: Based on the findings the study found out that there existed a negative relationship between volume of shares traded and the share price. Specifically, the share price is negative (β=-0.909) and significant (p-value = 0.000) at 5% and that 9.4 percent of the variations in volume of shares traded were explained by the variations in share pricesUnique contribution to theory, practice and policy: Based on the findings the study recommends that further studies to be done on the impact of bonus issues, IPOs, and the global economic crisis (2008-2009) on stock returns of companies listed at the NSE.
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Briliantini, Anggraeni Dwi, and Ari Prasetyo. "ANALISIS HARGA SAHAM DAN EARNING PER SHARE (EPS) TERHADAP BID ASK SPREAD PADA SAHAM SYARIAH PERUSAHAAN PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI ISSI PERIODE 2014 - 2017." Jurnal Ekonomi Syariah Teori dan Terapan 6, no. 8 (January 17, 2020): 1537. http://dx.doi.org/10.20473/vol6iss20198pp1537-1552.
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This study aims to analyze the effect of stock prices and earnings per share on bid ask spread on sharia shares of property and real estate companies listed in ISSI for the period 2014-2017 both partially and horizontally. This study uses a population of property and real estate companies registered at the ISSI. This study uses a sample of 26 samples of property and real estate companies registered with the ISSI where the sampling technique uses purposive sampling technique. The observation period in this study starts from the period 2014 - 2017. Based on the results of the study, the best estimation model used is the common effect model (CEM), this indicates that the variable share price and earnings per share (EPS) have a significant and simultaneous influence towards bid ask spread of sharia shares of property and real estate companies registered in ISSI for the period 2014 - 2017. The results of the research partially indicate that the stock price variable has a significant negative effect on the bid ask spread of sharia stock property and real estate companies registered in the ISSI period 2014-2017, while the earnings per share (EPS) variable has no influence and is significant towards bid ask spread of sharia shares of property and real estate companies registered in ISSI for the period 2014 - 2017.Keywords: Stock Price, Earning Per Share (EPS), property and real estate companies, ISSI
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Cravino, Javier, and Sam Haltenhof. "Real Exchange Rates, Income per Capita, and Sectoral Input Shares." Review of Economics and Statistics 102, no. 1 (March 2020): 180–94. http://dx.doi.org/10.1162/rest_a_00813.
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Aggregate price levels are positively related to GDP per capita across countries. We propose a mechanism that rationalizes this observation through sectoral differences in intermediate input shares. As productivity and income grow, so do wages relative to intermediate input prices, which increases the relative price of nontradables if tradable sectors use intermediate inputs more intensively. We show that sectoral differences in input intensities can account for about half of the observed elasticity of the aggregate price level with respect to GDP per capita. The mechanism has stark implications for industry-level real exchange rates that are strongly supported by the data.
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Brodová, M., and M. Ševčíková. "The development of the price parity in the foodstuffs production and consumption vertical." Agricultural Economics (Zemědělská ekonomika) 49, No. 1 (February 29, 2012): 30–36. http://dx.doi.org/10.17221/5261-agricecon.
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The analysis of the development of prices in the foodstuffs vertical, it means the prices of inputs into the agriculture, agricultural products, food products and consumption prices of foodstuffs, on the basis of the price scissors, and with crucial products on the basis of the price shares and differences, has shown that price liberalisation with the applied partial regulation of their development within the market-oriented reform has evoked the greatest raise of prices within 1991–2001 regarding inputs into the agriculture, while prices of agricultural products were growing slower. The parity coefficient (the ratio of price indices) between the development of the prices of inputs and outputs became worse as of 1989 to the detriment of agriculture from 93.9 reached in 1990 to 50.3 in 2001, what means a significant opening of the price scissors to the detriment of agricultural producers. That situation was influenced mostly by the development in the first year of the reform but the trend of opening the price scissors, except for 1994, was persisting, though in the last two years the differences in the trends of the development of prices of inputs and outputs have been moderated. At the beginning of the development, the effect of the low level of the agricultural products prices was not adequately reflected in the prices of food producers and consequently in consumer prices. This was influenced mainly by the pressure of food producers evoked by the need of settlement of additional costs connected with the transformation, in particular to the detriment of the agricultural products prices (opening of the price scissors with the parity coefficient dropping from 90.8 in 1990 to 56.5 in 2001), but this negative trend has been stopped in the last two years. A gradual accommodation of demand and supply and a growing competition environment also through large retails established in our country has been reflected in closing the price scissors between the prices of food producers and consumer prices of foodstuffs (the parity coefficient raised from 76.6 in 1991 to 88.7 in 2001). The development of the shares and differences in prices as of 1994 pointed to a substantial differentiation in the development of prices in the vertical of the production and consumption of individual products what was effected by the applied regulation system as well. With milk and milk products, the majority of the evaluated products was showing a slightly raised share of the raw cow milk price in the final food products prices, and in the last three years, also the processor price share in the consumer price. This narrowed the difference between the producer and dealer prices. With slaughter cattle and the major kinds of beef, a gradual decline of the slaughter cattle price share in the processor price was interrupted in 2001, what, to a certain extent, was also caused by the crisis evoked by the BSE and by the minimum price which prevented transferring of these consequences, to a larger extent, to farmers. Similarly, in 2001, a non-standard situation occurred between the processor and consumer prices of the individual kinds of beef. With slaughter pigs and the evaluated kinds of pork, after the period of dropping slaughter pig prices share in the processor price of the major kinds of pork, its growth was recorded mostly in 2001, when the processor price share in the consumer price dropped as well.
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Sitorus, Tigor, Ratlan Pardede, and Ardi. "THE INFLUENCE OF LIQUIDITY AND PROFITABILITY TOWARD SHARE PRICE: MEDIATED EFFECT OF HEDGING (EVIDENCES FROM SHARES OF LQ-45 LISTED IN INDONESIAN STOCK EXCHANGE FOR PERIOD OF 2011 TO 2015)." Humanities & Social Sciences Reviews 7, no. 5 (September 28, 2019): 150–60. http://dx.doi.org/10.18510/hssr.2019.7519.
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Purpose: This study aims at investigating and testing the mediated effect of Hedging on the effect of profitability and liquidity toward share price at shares of LQ-45, listed in Indonesian Stock Exchange from2011 to 2015. The current research was conducted because the phenomenon and the fluctuations in price of shares were unavoidable.
Methodology: The Structural Equation Modelling (SEM) by Amos was used to analyze the 110 observations of data.
Main Findings: The result of analysis shows that; (1) the liquidity gives not significantly negative influence to share price, (2) the liquidity gives significantly negative influence to hedging, (3) the profitability gives significantly positive influence to share price, (4) the profitability gives significantly negative influence to hedging, (5). Hedging gives significantly positive influence to share price.
Implications/Applications: The present study provides new evidence that the mediated effect of Hedging on the influence of liquidity and profitability toward share price has more strength compared to the direct influence of liquidity but not for profitability.
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Desiana, Lidia. "PENGARUH PRICE EARNING RATIO (PER), EARNING PER SHARE (EPS), DEVIDEND YIELD RATIO (DYR), DIVIDEND PAYOUT RATIO (DPR), BOOK VALUE PER SHARE (BVS) DAN PRICE BOOK VALUE(PBV ) TERHADAP HARGA SAHAM PADA PERUSAHAAN SUBSEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII)." I-Finance: a Research Journal on Islamic Finance 3, no. 2 (January 29, 2018): 199. http://dx.doi.org/10.19109/ifinance.v3i2.1550.
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One of the financial ratios that can be used to provide information on how much society (investors) or shareholders appreciates the company, so they want to buy stockof the company at a higher price than the book value of stock is the ratio of share capital or market ratio. This research aims to prove the influence of PriceEarning Ratio (PER), Earning Per Share (EPS), Devidend Yield Ratio (DYR), Dividend Payout Ratio (DPR), Book Value per Share (BVS) and Price Book Value (PBV) Sharia shares. The sample in this research consists of two sub-sector food and beverage companies listed in Jakarta Islamic Index, namely PT. Indofood CBP Sukses Makmur, Tbk and PT. Indofood Sukses Makmur, Tbk. To explain the influence of these variables, the data obtained in this research were analyzed using multiple linear regression model. The result of T test shows that Price Earning Ratio (PER), EarningPer Share (EPS), Book Value Per Share (BVS) and Price Book Value (PBV) have an effect on stock price. Devidend Yield Ratio (DYR) and Devidend Payout Ratio (Parliament) partially have no effect on stock prices. F test results show that Price Earning Ratio (PER), Earning Per Share (EPS), Devidend Yield Ratio (DYR), Devidend Payout Ratio (DPR), Book Value Per Share (BVS), Price Book Value (PBV) simultanly have effect on stock prices. Keywords: Price Earning Ratio, Earning Per Share (EPS), Devidend Yield Ratio (DYR), Devidend Payout Ratio (DPR), Book Value Per Share (BVS), Price Book Value (PBV) and Sharia Stock Price
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Sinaga, Annisa Nauli, Michael Michael, and Yuliyani Yuliyani. "Pengaruh Net Profit Margin, Earning Per Share, Return On Assets dan Leverage Ratio Terhadap Harga Saham Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia." Journal of Economic, Bussines and Accounting (COSTING) 4, no. 1 (September 17, 2020): 137–46. http://dx.doi.org/10.31539/costing.v4i1.1443.
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The stock price is determined by the supply and demand of the stock itself. The higher the purchase of these shares the stock price tends to move up and vice versa if more and more are selling these shares the stock price will usually tend to decrease. The purpose of this study is to analyze and test whether Net Profit Margin (NPM), Earning Per Share (EPS) and Leverage Ratio affect stock prices. This type of research is quantitative descriptive with secondary data, the sampling technique used is purposive sampling and the testing method used uses multiple linear regression analysis. The population in this study is 168 manufacturing companies listed on the Stock Exchange in 2016-2018 period. From the research results it is known that the simultaneous Net Profit Margin (NPM) and Earning Per Share (EPS) and Return On Assets (ROA) and Leverage Ratio have a significant and positive effect. While partially, only Earning Per Share (EPS) and Return On Assets (ROA) have a significant and positive effect, while Net Profit Margin (NPM) and Leverage Ratio has no significant and positive effect.
Keywords : Net Profit Margin, Earning Per Share, Return On Assets, Leverage Ratio
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Saadah, Siti, and Yunia Panjaitan. "The Green Shoe Option’s Effectiveness at Stabilizing the IPO’S Stock Price on the Indonesian Stock Exchange (2000-2013)." Gadjah Mada International Journal of Business 18, no. 1 (February 19, 2016): 71. http://dx.doi.org/10.22146/gamaijb.9292.
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The increased of price volatility due to positive initial returns will reduce investor confidence and impact on the overall market. Market stabilization mechanism is needed to control the price volatility. This research is intended to explore the effectiveness of Green-Shoe Option in reducing stock price volatility after IPO. This study is done through GARCH model development intended to identify the volatility of IPO shares price. This research compares the volatility price of company shares that apply Green shoe option at IPO with companies that do not apply it. The result of this research on companies that conduct IPO on 2000-2013 periods showed that the green shoe option stabilization program which was used by the issuers was effective in muffing the stock prices’ volatility. Therefore, according to researchers Green Shoe Option stabilization program can be used to prevent or ease the drop of shares price under Public offering.
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Silitonga, Debora, Putri Delima S. I. Siregar, Rijal Siahaan, Andi Pranata Ginting, and Rosmita Sari Siregar. "Pengaruh Earning Per Share, Total Assets Turn Over dan Pertumbuhan Penjualan terhadap Harga Saham pada Perusahaan Sektor Property And Real Estate yang Terdaftar Di Bursa Efek Indonesia." Journal of Economic, Bussines and Accounting (COSTING) 2, no. 2 (June 23, 2019): 356–62. http://dx.doi.org/10.31539/costing.v2i2.693.
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The stock price is the price of a stock that occurs on the stock market, at a certain time determined by the market actor and determined by the demand and supply of the shares concerned in the capital market. This study aims to examine the effect of earnings per share, total asset turn over and sales growth on stock prices in the property and real estate sector companies listed on the Indonesia Stock Exchange (IDX). The population in this study was 47 companies and made a sample of 21 companies with purposive sampling technique. This study uses multiple linear regression analysis. The results of simultaneous research have an effect on stock prices. Partially earnings per share has a significant effect on stock prices, while total asset turnover and sales growth have no significant effect on stock prices. Simultaneously earnings per share, total assets turn over and sales growth have a significant effect on stock prices.
Keywords: Earning Per Share, Total Assets Turn Over, Sales Growth, Stock Price
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Erlinawati, Ira, and Imron Mawardi. "Pengaruh Jumlah Saham Beredar, Harga Saham dan Presentase Saham Publik Terhadap Likuiditas Saham Perusahaan Yang Listing di JII Periode 2013." Jurnal Ekonomi Syariah Teori dan Terapan 2, no. 2 (December 4, 2015): 130. http://dx.doi.org/10.20473/vol2iss20152pp130-146.
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The increase on market capitalization, number of traded shares, frequency of stocks trading and stocks price index influence the stock liquidity. Stocks which have a high market capitalization and that index prices always increase reflected in the Jakarta Islamic Index (JII). It is because the majority shares on JII are member of LQ45 which have a big market capitalization and good track record. Therefore interesting to do research to see the effect of the number of shares, the stock price and the percentage of public stock to the stock liquidity of listed companies on JII. The approach used in this research is quantitative with multiple linear regression analysis technique. The independent variables are the number of shares, the stock price and the percentage of public stock, and the dependent variable is stock liquidity. The samples are 30 listed companies on JII of period 3 June to 29 November 2013. Simultaneously, the number of shares, the price stock and the percentage of public stock have significant effect on stock liquidity. Partially, only the price stock and the percentage of public stock that affect on stock liquidity.
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Seon, Junghoon. "Widened Price-Limits and Efficiency of Price Discovery over the Course of a Trading Day." Journal of Derivatives and Quantitative Studies 24, no. 2 (May 31, 2016): 245–67. http://dx.doi.org/10.1108/jdqs-02-2016-b0003.
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Korea Exchange has widen daily price limits from ±15% to ±30% of previous trading day’s closing price since June 15, 2015. In this paper, we examine how the event of widening price limits affect price discovery process over the course of trading day. In order to conduct this investigation, we compare price efficiency during such price discovery before and after the event. The changes that has occurred after the event can be summarized as follows: First, an analysis on full-sample indicates that price efficiency is maintained over the course of a trading, while it is aggravated temporary in two early intervals. Second, an analysis on sub-samples sorted by market capitalization, shares outstanding, or share price indicates that temporary aggravation of price efficiency in some mid-intervals is observed for shares outstanding lower group and share price top group. Overall, our results suggest that evidence supporting information hypothesis is found for the whole process of price discovery over the course of a trading day, though evidence supporting over-reaction hypothesis is found in some intervals or some types of stocks.
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Jog, Vijay M., and Allan L. Riding. "Price Effects of Dual-Class Shares." Financial Analysts Journal 42, no. 1 (January 1986): 58–67. http://dx.doi.org/10.2469/faj.v42.n1.58.
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Scheben, Heike, Nikolai Klempp, and Kai Hufendiek. "Impact of Long-Term Water Inflow Uncertainty on Wholesale Electricity Prices in Markets with High Shares of Renewable Energies and Storages." Energies 13, no. 9 (May 8, 2020): 2347. http://dx.doi.org/10.3390/en13092347.
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Renewable energy shares in electricity markets are increasing and therefore also require an increase in flexibility options. Conventional electricity price modelling with optimisation models in thermally dominated markets is not appropriate in markets with high shares of renewable energies and storages because price structures are not adequately represented. Previous research has already identified the impact of uncertainty in renewable energy feed-in on investment and dispatch decisions. However, we are not aware of any work that investigates the influence of uncertainties on price structures by means of optimisation models. Appropriate modelling of electricity price structures is important for investment and policy decisions. We have investigated the influence of uncertainty concerning water inflow by applying a second stage stochastic dual dynamic programming approach in a linear optimisation model using Norway as an example. We found that the influence of uncertainty concerning water inflow combined with high shares of storages has a strong impact on the electricity price structures. The identified structures are highly influenced by seasonal water inflow, electricity demand, wind, and export profiles. Additionally, they are reinforced by seasonal primary energy source prices and import prices. Incorporating uncertainties in linear optimisation models improves the price modelling and provides, to a large extent, an explanation for the seasonal patterns of Norwegian electricity market prices. The paper explains the basic pricing mechanisms in markets with high shares of storages and renewable energies which are subject to uncertainty. To identify these fundamental mechanisms, we focused on uncertainty regarding water inflow, but the basic results hold true for uncertainties regarding other renewable energies as well.
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Kmeťko, Miroslav, and Eduard Hyránek. "Is it Possible to Predict Earnings per Share?" SHS Web of Conferences 115 (2021): 02002. http://dx.doi.org/10.1051/shsconf/202111502002.
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The publication of quarterly results of publicly traded companies can have a significant impact on the valuation of their shares. This is mainly concerned with the valuation of the shares, whether it is correct, and at the same time as a prediction of the overall annual financial results. It In most of the analysed companies, we found that most of the year-on-year changes were negative. It is also not possible to draw a clear conclusion about the linear relationship between the percentage change pf surprises and the change in the market price of shares. It should also be noted that the share price in the monitored days may be affected by the current market situation. What this means in practice is that, despite the positive results and the negative mood, stock prices can end up in negative values. However, this situation was not the subject of our research. Therefore, we used a correlation coefficient for this dependence, which represent the mutual movement.
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Saragih, Anesa Novtiani, and Koramen H. Sirait. "PENGARUH MAKRO EKONOMI TERHADAP INDEKS HARGA SAHAM EMPAT NEGARA DI ASIA TENGGARA PERIODE 2003-2013." Media Ekonomi 23, no. 3 (December 6, 2015): 167. http://dx.doi.org/10.25105/me.v23i3.3517.
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<em>Investment in capital investment which is excessively done by companies or individuals in countries Southeast Asia. Investment which typically done is an investment in the capital market. By investing in these capital markets, it can raise particular country’s economic activity where share is one of the instruments of capital market. Many investors prefer this instrument in investing due to the attractive shares advantage. The movement of share prices changes every day, and observing the movements is essential by the investors. The information that can be observed by the investors in observing the movements of share prices is the joint share price index in a country. This research aims to analyze influence the macroeconomic variables towards share price index in some Southeast Asia countries, namely Indonesia, Malaysia, Philippines and Singapore from 2003 to 2013. This research employs panel data analysis to determine the variables which affect share prices in four Southeast Asian countries. The variables that affect the share price index are the interest rate, IHK, and GDP. Based on the panel data analysis, it is shown that the interest rate gives negative effect and significant towards the share price index of four countries in Southeast Asia, IHK gives negative effect and not significant towards the share price index of countries in Southeast Asia, and GDP gives positive effect and not significant towards the share price index of countries in Southeast Asia.</em>
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Obrizan, Maksym. "EXPLORING CROSS-COUNTRY VARIATION IN GOVERNMENT SHARES: WHAT CAN WE LEARN FROM RELATIVE PRODUCTIVITIES?" Macroeconomic Dynamics 17, no. 2 (February 7, 2012): 356–72. http://dx.doi.org/10.1017/s1365100511000150.
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Government shares in total output are characterized by significant variation across countries. I noticed a strong negative correlation between government consumption shares and the price of government services in terms of private consumption. Motivated by this empirical observation, I developed a neoclassical growth model with added government that is capable of matching the variation in government shares very closely using only relative prices. In addition, I provide empirical evidence showing that the relative price of government consumption increases with income, which is consistent with distortions prevailing in poor countries. These two observations combined imply that government shares tend to be higher in poorer countries.
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Murtini, Umi. "Pengaruh ESOP Terhadap Kesejahteraan Investor dengan Perubahan Return On Investment (ROI) Sebagai Variabel Intervening." Jurnal Riset Manajemen dan Bisnis 5, no. 1 (June 1, 2010): 84. http://dx.doi.org/10.21460/jrmb.2010.51.223.
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ESOP is an alternative attempt of companies to reduce any agency cofficts and to increase their bwestors' welfare. This research is aimed at finding the influence of the ESOP on the investors' welfare throagh the improvement of the ROI as the interttening voiable. The investors' welfore is seen from the price fluetuation af the shares (return on shores). This study indicates that the ESOP has a direct and an indirect influence on the price fluctuation of the shares (as the indicators of the irruerstors' weWe). The indirect influerce of the ESOP on the pricefluctuation of the shares is throughthe ROI, sa it is evident that the ROI as the interventingvariable of the ESOP influences the changes of the price of the shmes.Keywordt: ESOP, ROI, the price of share, irwestors'welfme
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Chhipa, Muhammad Ahsan, and Agha Ammad Nabi. "Factors Affecting Share Prices of Banking sector of Pakistan." Journal of Economic Info 3, no. 1 (January 31, 2016): 1–5. http://dx.doi.org/10.31580/jei.v3i1.82.
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It is very important to understand the value of share prices as it will be beneficial for both investor as well as the company. By understanding those determinants that can effect the share price, the investor will be in a position to make various profitable investment decisions. Whereas, from the company’s point of view it helps to know about the Intrinsic value of company’s shares. The purpose of this research was to find out the impact of share price on banking sector in Pakistan, as it shows the positive correlation of leverage on share price of banking sector registered in Pakistan Stock Exchange. The data was extracted from the State bank of Pakistan official Website and from companies financial data starting from 2010 till 2017 of 20 companies in Banking sectors registered in Pakistan Stock Exchange (PSX). While share price have 4 control variables (Earning per Share, Dividend Yield, Return on Assets and Assets Growth) all the results shows low variation of share price on Banking sector in Pakistan. We used Simple regression analysis and the results shows the positive impact of earning per share variable that shows impact on share price while dividend yield has positive impact on share price, assets growth has positive impact on share price, and return on assets has positive impact on share price.