This study aims to prove causality, cointegration and the influence of global capital markets with a market capital of Indonesia for the period 2001-2016 with a Granger causality test statistics, cointegration tests and Multiple Regression testing. These results prove that the 99% confidence interval occurred a long term relationship (cointegration) and the significant influence of global market indices with the Indonesia capital market index (CSPI) in Indonesia Stock Exchange (IDX) for the period 2001 to 2016, it indicates that Indonesia's economy has been integrated with global capital markets with varying levels of integration, but is causally there is only one country that has a causal relationship with the Indonesian stock market index (CSPI), the Taiwan stock market index (TWSE).

This study aims to determine causality macroeconomic variables and the influence of the Indonesian capital market during the period 2001-2017 by means of Granger causality test statistics and test of Multiple Linear Regression. The results of this study revealed that during the period 2001-2017 there is a relationship of causality between the money supply (M2) with the Indonesia Stock Exchange composite index, but there is no causal relationship between the BI rate, inflation, the price of crude oil, gold, exchange rate IDR/USD, Dow Jones and Nikkei 225 index on the Indonesia Stock Exchange composite index over the same period. The results of model testing research at 99% confidence level, obtained adjusted R-square values simultaneously at 98.4%, meaning that changes in the macro economy is able to provide a very significant variation in movement patterns of stock price index in Indonesia's capital market. This is also evidenced by the magnitude of the correlation values obtained in the model by 99.3%, meaning that there is a very close relationship between macroeconomic variables of the Indonesian capital market. However, the partial rate of inflation that occurred in Indonesia in the period 2001-2017 did not have a significant influence on the movement of stock market indices of Indonesia. Keywords: JCI, macroeconomic, globalization

This study was conducted to determine whether there is a contagion effect on the stock exchanges among ASEAN-5 countries (Indonesia, Singapore, Malaysia, Thailand and Philippines) during 2001.1 - 2018.5 period using the monthly return data of the five ASEAN-5 stock exchanges. This study uses granger causality test to see the direction of mutual influence that indicates the existence of contagion effect. The results revealed that the Indonesian stock exchange has a mutually influential relationship with the Thai stock exchange.

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 research aims to analyze the factors affecting the capital structure of the company. The sample companies are companies incorporated in the Indonesia Stock Exchange's LQ45 period 2012-2017. Bound variable used in this research is the structure of assets, while non used is the company's size, profitability, liquidity, operating leverage and sales growth. Test tool used multiple regression test tools IE. The results obtained i.e. There are five free variables that influence partially against variable capital structure i.e. variable structure of assets, company size, profitability, liquidity and sales growth. While the operating leverage variable have no effect partially against the capital structure.