Stock Split and Its Implication on Abnormal Return, Share Price, and Share Trading Volume in Indonesia Stock Exchange for the Period of 2016-2019

The purpose of this study is to analyze the implication of stock splits between an abnormal return, stock price, and stock trading volume of companies listed on the Indonesia Stock Exchange from 2016 to 2019. The research sample consists of 56 companies. This research was conducted by a quantitative approach, specifically in the form of an event study, i.e. the comparison between two means. The results of this study show that there is no implication of stock split on abnormal return indicated by there is no significant difference between abnormal return before and after the stock split. Another result shows that the stock split has a negative implication on stock trading volume indicated by there is a significant decrease in stock trading volume after the stock split. The last result shows that the stock split has a positive implication on share price indicated by the significant increase in share price after the stock split.