Pengaruh Trading Volume, PER, Firm Size dan Kebijakan Dividen Terhadap Volatilitas Harga Saham Perbankan Periode 2020-2024
DOI:
https://doi.org/10.47065/arbitrase.v6i3.3034Keywords:
Stock Price Volatility; Trading Volume; Price Earning Ratio; Firm Size; Dividend PolicyAbstract
The objective of this scientific study is to examine how trading volume, Price-Earnings Ratio (PER), firm size, and dividend policy influence stock price volatility among banking companies listed on the Indonesia Stock Exchange during the 2020–2024 period, which spans the pandemic era through the economic recovery phase. Secondary data was used as the basis for the analysis, with information sourced from financial statements, annual reports, and stock trading data. Through the application of purposive sampling, 12 companies were selected as the sample, with a total of 60 observations. The Fixed Effects Model (FEM) approach in panel data regression was applied as the technique to analyze the research data. The analysis results reveal a positive and significant effect of trading volume on stock price volatility (? = 0.110482; p = 0.0419). A positive and significant effect was also found for the Price-Earnings Ratio (? = 0.004443; p = 0.0104). Conversely, firm size has a significant negative effect (? = -0.332046; p = 0.0000). However, dividend policy does not show a significant effect on stock price volatility (? = 0.021583; p = 0.8222). These findings indicate that during the period from the pandemic to economic recovery, the volatility of banking stock prices was influenced by trading activity, market expectations, and internal company characteristics, while dividend policy was not a significant factor. The results of this study have implications for investors in evaluating stock investment risks by taking into account market conditions and company characteristics.
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