Pengaruh Perubahan Kebijakan Free Float terhadap Harga Saham pada IDX30 dan LQ45
Abstract
Track record of Free Float (FF) policy changes has been regulated by the Indonesia Stock Exchange (BEI) since 2004, 2014 and 2018 and has been re-revised in August 2019. Problems formulated 1) Do the FF policy changes affect the stock price at the time of announcement, weighting and implementation 2) What is the impact of the FF policy changes on the issuers. This research is an explanatory research with a quantitative approach, tested by multiple regression to see whether or not the influence of FF policy on stock price. The results show that the hypothesis test at the time of the announcement stated that the FF ratio affected stock price by 0.02 at the expense of the cigarette and mining industry stocks. At this stage the stocks that benefit from the policy are banking stocks such as BBCA and BBRI. Meanwhile, at the time of applying 70% and 40% weights, stated that the FF ratio affected the stock price by 0.04 at the expense of the cigarette industry and consumer good. The stocks that benefited were banking and cement industry stocks. For the implementation of 100% FF stated that the free float ratio had no effect on the stock price of 0.17, again harming the cigarette industry and the construction sector and benefiting banking, cement and telecommunications stocks.
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