scholarly journals The Impact of Bond Rating Announcement on Companies Listed Stock Returns: Evidence from Indonesia

2019 ◽  
Vol 1 (2) ◽  
pp. 75
Author(s):  
Novyandri Taufik Bahtera
Keyword(s):  
Stock Returns ◽  
Sampling Method ◽  
Stock Exchange ◽  
Bond Ratings ◽  
Bond Rating ◽  
Significant Difference ◽  
Before And After ◽  
The Impact ◽  
Observation Period

This study aims to determine whether there is a difference between stock returns before and after the announcement of both increases and decreases in bond ratings. This study is classified as a case study with an observation period of 5 days before and 5 days after the announcement of the bond rating. The population of this study is all companies listed on the Indonesia Stock Exchange that announced the ratings of bonds from 1999 to 2009, which made a total of 331 bond ratings in 52 companies. The sample was chosen using a purposive sampling method and 24 samples were obtained for the announcement of the increase in bond ratings and 18 samples for the announcement of the bond rating decline. Data testing is done using paired sample t-test. Based on the results of the study it can be concluded that (1) there is no significant difference in stock returns around the date of the announcement of the increase in bond ratings. This indicates that the announcement of an increase in bond ratings does not bring information to investors. (2) There is a significant difference in stock returns around the date of the announcement of the decline in bond ratings. This indicates that the announcement of the downgrade of bonds carries information content for investors.

scholarly journals Dampak Pandemi Covid-19 terhadap Kinerja Keuangan Perusahaan Sektor Jasa di BEI

2021 ◽  
Vol 7 (2) ◽  
pp. 227-233
Author(s):  
Maria J F Esomar ◽  
Restia Christianty
Keyword(s):  
Financial Performance ◽  
Hypothesis Testing ◽  
Sampling Method ◽  
Stock Exchange ◽  
Paired Sample ◽  
Empirical Results ◽  
Significant Difference ◽  
Before And After ◽  
The Impact ◽  
Profitability Ratios

The Covid-19 pandemic has caused many hotels, restaurants and tourism activities to be temporarily closed. It has an impact on the financial performance towards the companies engaged in this sub-sector. The objective of this study is to analyze the impact of Covid 19 towards the financial performance of companies engaged in the sub-sector of hotel, restaurant and tourism. Financial performance is measured using several ratios, namely liquidity ratios, solvability ratios, profitability ratios and market ratio. The ype of research is descriptive quantitave. The population in this study is 35 all companies in the sub-sector of hotel, restaurant and tourism listed on the Indonesia Stock Exchange in 2019-2020 period. Samples are collected from 30 companies using purposive sampling method. Hypothesis testing is conducted using the Paired Sample t-Test. The empirical results show that, in the liquidity ratio, and market ratio there is no significant difference between the periods of before and after the first recorded Covid-19 case in Indonesia. Meanwhile, in the solvability ratio and profitability ratio, there are significant differences between the two periods.

scholarly journals Analisis Perbandingan Abnormal Return Dan Likuiditas Saham Sebelum Dan Sesudah Stock Split Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia Periode 2010-2015

2019 ◽  
Vol 2 (1) ◽  
Author(s):  
Cindy Hadiwijaya Dan Indra Widjaja
Keyword(s):  
Abnormal Return ◽  
Sampling Method ◽  
Stock Exchange ◽  
Rank Test ◽  
Signed Rank ◽  
Significant Difference ◽  
Stock Split ◽  
Before And After ◽  
Signed Rank Test ◽  
Observation Period

This research aims to find out whether there is a significant difference in abnormal return and liquidity of shares before and after stock split for companies listed in Indonesian Stock Exchange during 2010-2015. 46 samples were obtained using purposive sampling method. The observation period is 10 days before and after stock split announcement. Hypothesis was tested by using Wilcoxon Signed Rank Test with significant level of 0.05. The result of this research shows that there is a significant difference in abnormal return before and after stock split, while there is no significant difference of share’s liquidity before and after stock split.

scholarly journals REAKSI PASAR MODAL DARI DAMPAK PERISTIWA HARI BESAR AGAMA ISLAM TERHADAP ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY SAHAM PERUSAHAAN INDEKS JII YANG TERDAFTAR DI BURSA EFEK INDONESIA

2020 ◽  
Vol 15 (1) ◽  
pp. 59-69
Author(s):  
Septiana Endang Subekti ◽  
Ika Yustina Rahmawati
Keyword(s):  
Stock Returns ◽  
Abnormal Return ◽  
Trading Volume ◽  
Secondary Data ◽  
Volume Activity ◽  
Significant Difference ◽  
Before And After ◽  
Abnormal Stock Returns ◽  
The Impact ◽  
Observation Period

   The purpose of this study is to analyze the capital market reaction from the impact of religious holidays which will be indicated by the presence or absence of abnormal return and trading volume activity. The sample used is the Jakarta Islamic Index (JII). This type of research is event study so that the observation period is used to see reactions before and after the event occurs. The events used in this study were the Birthday of the Prophet Muhammad, Isra Mi'raj, Eid al-Fitr, Eid al-Adha and Islamic New Year. The observation period used is from 2014 to 2017. The research period used was 7 days before the event and 7 days after the event. Data sources are obtained from Yahoo Finance, Sahamok.com and IDX. The data used in this study are secondary data, such as stock closing prices, IHSG closing prices and stock trading volume. The analytical tool used to test the hypothesis in this study is a paired t-test. The results showed that Eid al-Adha holidays had a significant difference to the abnormal return and trading volume activity before and after holidays. There were no significant differences in the abnormal return and trading volume activity before and after the Miraj Isra holiday. While the birthday of the Prophet Muhammad SAW, Eid holidays and Islamic New Year holidays there is no significant difference between abnormal stock returns and there are differences in trading volume activity before and after holidays.

scholarly journals ANALISIS PENGARUH PENGUMUMAN BOND RATING TERHADAP RETURN SAHAM PERUSAHAAN DI BURSA EFEK JAKARTA PERIODE 2012-2014

2017 ◽  
Vol 5 (1) ◽  
Author(s):  
Rinto Noviantoro
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
T Test ◽  
Bond Rating ◽  
Paired Sample ◽  
Purposive Sampling ◽  
Before And After ◽  
The Difference ◽  
The Impact

Rinto Noviantoro: The purpose of this study to examine the impact of the announcement of bond rating on stock returns prior (the announcement of bond rating), stock return on day (bond rating announcement). Data used are daily stock return by Jakarta Stock Exchange (JSE), bond rating announcement by PT. PEFINDO, and firm are listing in Jakarta Stock Ekchange between 2012 to 2014. This research using 29 emitens as the sample bosed on purposive sampling. This data are analyzed with paired sample t-test and Oneway ANOVA.The analysis indicates that : (1) the defference are not significant between stock return an day bond rating announcement with before day bond rating announcement, (2) the difference are not significant between stock return on day bond rating announcement with after day bond rating announcement, (3) the difference are significant between stock return before bond rating announcement with after bond announcement (4) avarage stock return on day, before and after bond rating announcement are not significant differences.Key words: Obligasi, Return Saham

Perbandingan harga saham, volume transaksi dan return saham sebelum dan sesudah terjadi pandemi covid-19 pada PT Agung Podomoro Land, Tbk

2021 ◽  
Vol 5 (4) ◽  
pp. 720
Author(s):  
Anggun Putri Romadhina ◽  
Eka Kusuma Dewi
Keyword(s):  
Stock Returns ◽  
Stock Prices ◽  
Stock Price ◽  
Research Data ◽  
Paired Sample ◽  
First Case ◽  
Significant Difference ◽  
Before And After ◽  
Stock Transaction

The first Covid-19 case in Indonesia was announced on March 2, 2020. This study aims to determine whether there is a significant difference in stock prices, stock transaction volume and stock returns due to the COVID-19 pandemic (case study at PT. Agung Podomoro Land, Tbk). This research data was taken 90 days before and 90 days after the announcement of the first case of COVID-19 in Indonesia. The data was processed by paired sample t-test, using SPSS version 20. From the results of data processing, it was shown that there was a significant difference in stock prices before and after the announcement of the first case of covid-19 in Indonesia. This is indicated by a significance value of 0.000 < 0.05 where the stock price has decreased compared to before the Covid-19 case. Meanwhile, the volume of stock transactions also showed a significant difference with a significance value of 0.007 <0.05, where the volume of stock transactions after the announcement showed a decrease. Likewise, stock returns show a significant difference with a significance value of 0.025 < 0.05 where stock returns have decreased after the announcement of the first case of covid-10 in Indonesia.  

scholarly journals Analisis Faktor Keuangan dan Non Keuangan yang Mempengaruhi Prediksi Peringkat Obligasi (Studi empiris pada perusahaan penerbit obligasi yang terdaftar di Bursa Efek Indonesia periode 2012-2014)

AKUNTABEL ◽  
2017 ◽  
Vol 14 (1) ◽  
pp. 69
Author(s):  
Putri Sakinah ◽  
Ardi Paminto ◽  
M. Amin Kadafi
Keyword(s):  
Logistic Regression ◽  
Regression Analysis ◽  
Data Collection ◽  
Logistic Regression Analysis ◽  
Sampling Method ◽  
Stock Exchange ◽  
Current Ratio ◽  
Bond Ratings ◽  
Bond Rating ◽  
Equity Ratio

The purpose of this study is to examine the effect of liquidity as measured by Current Ratio (CR), Leverage is measured by Debt to Equity Ratio (DER), guarantee and age of bonds to bond rating listed on the Indonesia Stock Exchange. The research sample used is a bond issuer company listed on the Indonesia Stock Exchange (IDX) period of 2012 to 2014. Data collection research using purposive sampling method. Data obtained by 10 companies in the period 2012 to 2014. This study used logistic regression analysis to analyze the data. The result of this research is the liquidity proxied with Current Ratio (CR) has no significant effect on the rating of bond in Indonesia Stock Exchange. The leverage proxied by the Debt to Equity Ratio significantly influences the rating of bonds on the Indonesia Stock Exchange and the age of the bonds and the guarantee does not significantly affect the rating of bonds in the Indonesia Stock ExchangeKeywords: Bonds, bond ratings, liquidity, leverage, age of bonds, guarantees

scholarly journals Investor’s Mood at ASIAN Games Event

2019 ◽  
Vol 7 (2) ◽  
pp. 177
Author(s):  
Happy Sista Devy ◽  
Bahrain Pasha Irawan
Keyword(s):  
Event Study ◽  
Abnormal Return ◽  
Sampling Method ◽  
Stock Exchange ◽  
Purposive Sampling ◽  
Event Study Method ◽  
Before And After ◽  
Wait And See ◽  
The Many ◽  
Observation Period

<p>Goals of the research to analyze whether occurred abnormal return of ASIAN Games phenomena and see how investors react to the big ASIAN Games 2018 event in Indonesia. . This reseach uses a sample of companies included in the hotel, restaurant and tourism sub-sector on the Indonesia Stock Exchange (IDX) during the observation period, based on the purposive sampling method which obtained 22 companies and used the event study method. There is a significant abnormal return but not on the phenomenon of the Asian Games 2018. This shows that investors still wait and see to the organization of the Asian Games in 2018. No difference of abnormal return before and after the Asian Games 2018. This is because, as investors look to the many tourists who have started to flock to Indonesia before the Asian Games in 2018 took place.<em></em></p><p><strong><em></em></strong><em><br /></em></p>

scholarly journals ANALISIS PENGARUH PENGUMUMAN DIVIDEN TERHADAP PERUBAHAN HARGA SAHAM (RETURN) SEBELUM DAN SESUDAH EX-DIVIDEND DATE DI BURSA EFEK JAKARTA (BEJ)

2019 ◽  
Vol 1 (2) ◽  
pp. 73
Author(s):  
Wibowo Wibowo ◽  
Melati Adorini
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Stock Return ◽  
Stock Exchange ◽  
Paired Sample ◽  
Before And After ◽  
Independent Variable ◽  
Return Difference ◽  
The Impact ◽  
Observation Period

<p><em>The objective of this research was to analyze the impact of ex-dividend date announcement in Jakarta Stock Exchange (JSX) on stock return during the period of 2000- 2004. This research takes 25 corporation samples which are divided into two groups, namely increasing dividend group and decreasing dividend group. The method used in this research is event study that observed the stock return movement in capital market. The observation period was during 15 days before and 15 days after ex-dividend date. In order to examine the existence of price reaction, the abnormal return was conducted during the event period towards the increasing dividend group and decreasing dividend group. The independent variable used was dividend declaration (increasing dividend and decreasing dividend) and dependent variable used was stock return. The calculation of this research using paired sample t test, was to prove if there is any stock return differences between before and after ex-dividend date announcement with<br /> the presence of increasing dividend declaration and decreasing dividend declaration in Jakarta Stock Exchange (JSX). The result of this research had shown two conclutions that for the increasing dividend group, there were no stock return (abnormal return) diffrerence between before and after ex-dividend date due to the increasing dividend declaration in Jakarta Stock Exchange (JSX) and for the decresing dividend group there was stock return (abnormal<br /> return) difference between before and after ex-dividend date due to decresing dividend declaration in Jakarta Stock Exchange (JSX).</em></p>

scholarly journals Risk Profile, Secure Bond, and Bond Rating in Banking Industry

The Winners ◽  
2020 ◽  
Vol 21 (1) ◽  
pp. 49
Author(s):  
Erin Wijayanti ◽  
Indah Yuliana
Keyword(s):  
Banking Industry ◽  
Stock Exchange ◽  
Risk Profile ◽  
Partial Least Square ◽  
Least Square ◽  
Bond Ratings ◽  
Bond Rating ◽  
The Impact ◽  
The Relationship ◽  
Positive Effect

The research aimed to assess the impact of the Risk Profile on the banking industry bond ratings in Indonesia Stock Exchange (IDX) and have a rating for bonds at PT PEFINDO. Sampleswere selected by purposive sampling method. The population were banks listed on the Indonesia Stock Exchange in 2015-2018. The population was 44 banks and 16 banks were selected as samples. The analysis a used descriptive statistics and Partial Least Square (PLS) for testing structural and structural models. The results show that Non-Performing Loan (NPL)and Loan to Deposit Ratio (LDR) directly have a significant direct positive effect on bond ratings, and security directly do not have a significant effect on bond ratings, security strengthen risk relationships credit with a bond rating. However, security weakens the relationship between liquidity risk and the bond rating. The variables indicate that these variables can explain the bond rating of 44,4% while the remaining 55,6% is influenced by other variables not contained in the research model.

scholarly journals THE IMPACT OF IFRS ADOPTION ON EARNINGS MANAGEMENT IN BANKING COMPANIES IN INDONESIA STOCK EXCHANGE

2016 ◽  
Vol 13 (2) ◽  
pp. 176
Author(s):  
Prima Santy ◽  
Tawakkal Tawakkal ◽  
Grace T. Pontoh
Keyword(s):  
Earnings Management ◽  
Stock Exchange ◽  
Research Result ◽  
Control Variable ◽  
T Test ◽  
Test Analysis ◽  
Ifrs Adoption ◽  
Significant Difference ◽  
Before And After ◽  
The Impact

The issue of the IFRSadoption as a standard that can lead to a reduction of earnings management. The research aimed to give empirical evidence concerning the impact of the IFRS adoption on earnings management, and the test of the difference level of earnings management between before and after the IFRS adoption. The research scope focused on the implementation of IFRS adoption particularly in PSAK No. 50 and PSAK No. 55 (revised 2006) concerningfinancial instruments. The research objects were the banking companies listed in Indonesia Stock Exchange for 4 years (2008-2011), i.e. as many as 23 banks. Samples were taken by using the purposive sampling technique. The main variables in this research are IFRS and earnings management,and includes several control variable, among others are, size, financial leverage, market to book value and institutional investors. The data were analyzed usingmultiple regression analysis and different t-test analysis. The research result indicates that the IFRS adoption has not effect the decreaseon the earnings management.Among the four control variables, the variable institutional investor is found not to have theeffect on earnings management, whereas the other three variables haveeffect.The result of the different t-test analysis also indicates that statistically there is not significant difference on the level of the earnings management between before and after IFRS adoption. Thus, based on this study concluded that the adoption of IFRS still allow for the occurrence of earnings management.

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