Determinan Holding Period Behavior dengan Moderating Yield To Maturity di Perusahaan Manufaktur Terbuka Indonesia dan Malaysia

Abstract

This research aims at assessing the effects of Bid Ask Spread, Market Value, Variance Return, and Dividend Payout Ratio on the Holding Period with Yield to Maturity acting as moderating variable. Secondary data consist of the financial statements of the companies listed on Indonesia Stock Exchange and Malaysia Stock Exchanges, which are then analyzed using the Moderating Regression Analysis (MRA). Using a purposive sampling method, all 488 manufacturing companies listed on indonesia and Malaysia Stock Exchanges serve as the population. The independent variables in this research are Bid Ask Spread, Market Value Variance Return, and Dividend Payout Ratio, while the dependent variable is the Holding Period. Furthermore, Yield to Maturity is used as the moderating variable. The research findings show that Bid Ask Spread, Market Value, Variance Return, and Dividend Payout Ration simultaneously have positive and significant effects on the Holding Period. Meanwhile. partially, Bid Ask Spread, Variance Return, and Dividend Payout Ration all have positive and significant effects on the Holding Period. Furthermore, the effects of Yield Maturity as a moderating variable on the independent and dependent variables reveal that the Bid Ask Spread has a positive but insignificant effect on the Holding Period. Using the moderating variable, however, the Variance Return, on the other hand, has a positive and significant effect on the Holding Period Furthermore, when moderating variable is used. Market Value and Dividend Payout Ratio have negative and significant effects on Holding Period.