Pengaruh Asimetri Informasi, Likuiditas Saham, dan Ukuran Perusahaan terhadap Volatilitas Harga Saham pada Perusahaan Sektor Keuangan yang terdaftar di Bursa Efek Indonesia Tahun 2020 – 2024
This study aims to analyze the effect of information asymmetry, stock liquidity, and firm size on stock price volatility in financial sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. Stock price volatility reflects investment risk and uncertainty faced by investors; therefore, examining its determinants is essential, particularly in the financial sector, which plays a strategic role in maintaining financial system stability. This research employs a quantitative approach using multiple linear regression analysis. The sample was selected through purposive sampling, resulting in 8 banking subsector companies with a total of 40 observations. Information asymmetry is measured using the bid-ask spread, stock liquidity is proxied by the turnover ratio, firm size is measured by the natural logarithm of total assets, and stock price volatility is calculated using the annualized standard deviation of monthly returns. Data analysis was conducted through classical assumption tests, partial tests, simultaneous tests, and the coefficient of determination. The results indicate that information asymmetry and stock liquidity significantly affect stock price volatility, while firm size does not have a significant effect. Simultaneously, information asymmetry, stock liquidity, and firm size influence stock price volatility. These findings highlight the importance of information transparency and effective trading activity management in controlling stock price fluctuations in the capital market.
Authors
- Rina Masithoh Haryadi
- Muhammad Yusuf (ORCID: https://orcid.org/0009-0001-8267-3748)
- Elfreda Aplonia Lau
Institutions
- Universitas 17 Agustus 1945 Samarinda (ID)
Publication Details
- Journal
- Jurnal Riset Akuntansi
- Published
- 2026-11-02
- DOI
- https://doi.org/10.54066/jura-itb.v4i4.4524
- Primary Topic
- Financial Markets and Investment Strategies
- Type
- article
- Field-Weighted Citation Impact
- 0.00