Stock Liquidity And Financial Performance Of Companies Before And After Stock Split (Study On Companies Listed In Indonesia Sharia Stock Index (ISSI) Period 2016-2018: Comparative Study)

The increase and decrease in investor interest are motivated by the high share price. Stock splits are the best reasons for companies to keep stock prices stable or affordable. A stock split can cause the share price to be lower, so it will easy to reach by small investors, this will lead to increased demand for stocks, and stocks will become more liquid. This study aimed to determine the difference in stock liquidity and financial performance of the company between before and after the stock split in companies listed in the Indonesia Sharia Stock Index (ISSI). The type of research used was quantitative research. Sampling techniques used purposive sampling so that as many as 31 companies were obtained. The window period set out in the study was 5 days before and 5 days after the stock for variable stock liquidity and 1 year before and 1 year after the stock split for the company's financial performance. The data analysis used was a different sample test paired with a Wilcoxon test for abnormally distributed data and a paired t-test sample test for normally distributed data. The results of this study can be concluded that there was a difference in stock liquidity between before and after but there was no difference in the company's financial performance between before and after the stock split.