Article History JEL Classification:G32.Research on stock splits has frequently been undertaken. The results vary, but fundamentally can be classified into two groups. First, the stock split is purely "cosmetic". Second, the stock split has a real effect on stocks. The difference between these opinions raises controversy. The purpose of this study is to examine whether stock splits influence stock liquidity and return of an individual stock as well as in a group of stocks as a portfolio. Overall, the results of this study show that stock splits did influence stock price, trading volume and bid-ask spread but did not influence stock risk and abnormal return from the point of view of an individual stock as well as in a group of stocks as a portfolio. The test of a relationship between bid-ask spread and stock price, trading volume and stock risk for each stock shows that all three variable did not significantly affect the bid-ask spread. On the other hand, the test of a relationship in a portfolio reveals that only stock prices significantly affect the bid-ask spread.

This study aims to examine and analyze the effect of social responsibility disclosure and profitability on firm value. Disclosure of social responsibility is measured in accordance with the concept of sustainability development in sustainability report which is based on the Global Reporting Initiative standard. Profitability is measured using return on investment and company value is measured based on stock prices. The object of this research is state-owned banks that are listed on the stock exchange. The sample was chosen based on purposive sampling conducted during 5 years of observation, namely 2014-2018, and selected as many as 4 samples of state-owned banks with 20 observations. The type of data used in this study is secondary data with descriptive quantitative analysis method. Tests on research variables are carried out using multiple linear regression analysis by performing statistical tests of classical assumptions and hypothesis testing F and t.The results of the study prove that simultaneously corporate social responsibility (CSR) and return on investment (ROI) have a positive and significant effect on stock prices with a large influence of 67.5%. Partially social responsibility disclosures do not have a significant effect on stock prices but provide a positive direction of influence of 0.061. This shows that disclosure of social responsibility has a relationship in line with stock prices. While return on investment has a positive effect of 1.667 and is significant for stock prices.The results of the study prove that simultaneously corporate social responsibility (CSR) and return on investment (ROI) have a positive and significant effect on stock prices with a large influence of 67.5%. Partially social responsibility disclosures do not have a significant effect on stock prices but provide a positive direction of influence of 0.061. This shows that disclosure of social responsibility has a relationship in line with stock prices. While return on investment has a positive effect of 1.667 and is significant for stock prices.