scholarly journals Reaksi Pasar Modal Terhadap Pengumuman Right Issue pada Perusahaan yang Terdaftar di Bursa Efek Indonesia

2019 ◽  
pp. 159
Author(s):  
Pita Qurnia Amir ◽  
I. G. N. Agung Suaryana
Keyword(s):  
Abnormal Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Participant Observation ◽  
Sample Selection ◽  
Sampling Technique ◽  
Analysis Technique ◽  
Observation Method ◽  
Rights Issue ◽  
Rights Issues

This research aims to determine whether there is a market reaction to the announcement of the rights issue. This research was conducted on the Indonesia Stock Exchange (IDX) in publicly listed companies that conducted rights issues during the period 2011-2017 with a population of 143 companies. The sample selection uses non-participant observation method with purposive sampling technique, obtained a sample of 103 companies. The analysis technique used is to test one sample t-test on the cumulative abnormal return. Based on the results of the analysis conducted, it was found that there is no market reaction to the announcement of the rights issue, which means the announcement of the rights issue does not have information content so it does not affect the investor's preference in making decisions. Keywords: Right issue, abnormal return, market reaction.

scholarly journals Analisis Reaksi Pasar Atas Pengumuman Stock Split

2019 ◽  
pp. 1897
Author(s):  
Dyah Paramitha
Keyword(s):  
Abnormal Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Participant Observation ◽  
Sampling Technique ◽  
Expected Return ◽  
Analysis Technique ◽  
Stock Split ◽  
Positive Abnormal Return ◽  
Observation Method

This study reexamines market reaction on stock split announcement. The reexamination was triggered by the increase in the number of investors and occurrence of stock splits recently. The study was conducted in the Indonesia Stock Exchange with the number of samples taken using the non-participant observation method with a purposive sampling technique of 56 companies. Data was collected from the Indonesia Stock Exchange and Yahoo Finance websites. This study uses a 7-day event window. Expected return iscalculated by the market- adjusted model. The analysis technique used is one sample t-test on the cumulative abnormal return. Based on the results of the analysis it is found that there is a positive abnormal return around the announcement of stock split. It shows that stock split has information content.Keywords: Stock split, market reaction, abnormal return.

scholarly journals Efek Profitabilitas dan Ukuran Perusahaan Terhadap Nilai Perusahaan dengan Pengungkapan Corporate Social Responsibility Sebagai Variabel Mediasi pada Perusahaan Konstruksi yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2016

2019 ◽  
Vol 3 (5) ◽  
pp. 67
Author(s):  
Robert Robert
Keyword(s):  
Firm Size ◽  
Firm Value ◽  
Stock Exchange ◽  
Participant Observation ◽  
Sampling Technique ◽  
Least Square ◽  
Construction Company ◽  
Analysis Technique ◽  
Observation Method ◽  
Corporate Social

The purpose of this study was to analyze : The effect of profitability and firm size on CSR, the effect of CSR on firm value, and the effect of profitability and firm size on the firm value through CSR. Subject is the construction company listed in the Indonesia Stock Exchange (BEI) 2014-2016. The sampling technique that used purposive sampling techniques and obtained as many as 68 companies with a total of 204 observations. This study using non-participant observation method taken from annual report and financial statement of companies. The analysis technique used is two stage least square regression method. The results of this study are : Profitability doesn’t effect on CS. Firm Size proven significant positive effect on CSR. CSR proven negative and significant on firm value and CSR able to mediate effect of Profitability and firm size on the firm value.

scholarly journals Market reaction to the rights issue announcement on the Indonesia stock exchange

2019 ◽  
Vol 6 (6) ◽  
pp. 264-269
Author(s):  
Ni Putu Linsia Dewi ◽  
Ica Rika Candraningrat
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Stock Exchange ◽  
Statistical Tests ◽  
Abnormal Returns ◽  
Analysis Technique ◽  
Before And After ◽  
Parametric Statistical Test ◽  
The Right ◽  
Rights Issue

Rights issue or the issuance of pre-emptive rights are the rights granted by an issuer company made to its existing shareholders to buy new shares issued within a predetermined period of time. This study aims to empirically explain the differences in abnormal returns before and after the announcement of the rights issue and to determine the form of capital market efficiency in Indonesia. Data are collected from 27 listed companies in the Indonesia Stock Exchange (IDX) that conducted a rights issue in 2014-2018. The data analysis technique used is the Kolmogorov-Smirnov Normality Test and the Parametric Statistical Test with a paired sample t-test. Based on the results of hypothesis testing not found differences in abnormal returns both before and after the announcement date indicating the market does not react to the right issue event. The results of statistical tests show a downward trend of abnormal return which is proxied in the Cumulative Abnormal Return (CAR), implying a market tends to react negatively to the announcement of the rights issue. Rights issue information causes a new equilibrium price adjustment in the market, thus making the form of efficiency of the Indonesian capital market a semi-strong form.

scholarly journals Reaksi Pasar Atas Pengumuman Corporate Governance Perception Index

2019 ◽  
pp. 2432 ◽  
Author(s):  
I Gede Krisna Dharma Putra ◽  
I Gusti Ayu Eka Damayanthi
Keyword(s):  
Corporate Governance ◽  
Capital Market ◽  
Abnormal Return ◽  
Sampling Method ◽  
Market Reaction ◽  
Stock Exchange ◽  
Stock Trading ◽  
Announcement Date ◽  
Analysis Technique ◽  
The One

CGPI is the result of research from the Indonesian Institute for Corporate Governance (IICG) in collaboration with SWA magazine. This study aims to determine the reaction of the capital market on the CGPI announcement. The research was conducted at the company surveyed by CGPI for the period 2013-2016 by accessing the Indonesia Stock Exchange, IICG, Yahoo finance and SWA magazines. The population in this study were the companies surveyed by the Corporate Governance Perception Index (CGPI) for the period 2013-2016. The number of samples taken was 61 using the purposive sampling method. The data analysis technique used is the one sample t-test. Based on the results of the analysis, it was found that during the seven days of stock trading around the announcement of the Corporate Governance Perception Index (CGPI) without involving the comfounding effect (other announcements) there was no market reaction around the CGPI announcement date. Keywords: Corporate Governance Perception Index (CGPI), abnormal return, market reaction

scholarly journals Pengaruh Ukuran Perusahaan, Profitabilitas, Financial Leverage, dan Winner/Loser Stock pada Perataan Laba Perusahaan Manufaktur

2018 ◽  
pp. 1913
Author(s):  
Putu Intan Adriani ◽  
I G.A.M Asri Dwija Putri ◽  
Gede Agus Indra Tenaya K.
Keyword(s):  
Logistic Regression ◽  
Sampling Method ◽  
Stock Exchange ◽  
Participant Observation ◽  
Total Sample ◽  
Income Smoothing ◽  
Financial Leverage ◽  
Variable Size ◽  
Analysis Technique ◽  
Observation Method

This research was conducted at a manufacturing company listed on Indonesia Stock Exchange (BEI) during the period 2013-2016. The number of samples used are 37 companies selected through purposive sampling method with 4 years of observation so that the total sample used to be 148 samples.. The Eckel Index is used as a distinguishing indicator between firms that do income smoothing and do not make income smoothing. Data collection was done by non participant observation method. Data analysis technique used is logistic regression. Based on the results of analysis in this study indicate that profitability variables affect the income smoothing, while the variable size of the company, financial leverage, and winner/loser stock has no effect on income smoothing. Keywords: Firm size, profitability, financial leverage, winner/loser stock, income smoothing.

scholarly journals Pengaruh Proporsi Komisaris Independen, Leverage, Sales Growth, Dan Profitabilitas Pada Tax Avoidance

2018 ◽  
pp. 1884
Author(s):  
Ni Putu Winda Ayuningtyas ◽  
I Ketut Sujana
Keyword(s):  
Regression Analysis ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Sample Selection ◽  
Tax Avoidance ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Sales Growth ◽  
Manufacturing Companies ◽  
Analysis Technique

This study aims to examine the variables of the proportion of independent commissioners, leverage, sales growth and profitability that affect companies to carry out tax avoidance. This research was conducted on all manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2014-2017, with a total of 200 samples. Sample selection using probability sampling technique is purposive sampling technique. The data analysis technique used is a multiple linear regression analysis test. The results showed that the proportion of independent commissioners, sales growth and profitability had no effect on tax avoidance while leverage had an effect on tax avoidance. Keywords: tax, leverage, sales growth, profitability

scholarly journals RIGHT ISSUE: HUTANG ATAU INVESTASI?

2017 ◽  
Vol 14 (2) ◽  
pp. 1
Author(s):  
Deny Dwi Hartomo
Keyword(s):  
Abnormal Return ◽  
Stock Exchange ◽  
Event Window ◽  
The Difference ◽  
Adjusted Model ◽  
Rights Issue ◽  
Offering Price ◽  
Investor Reaction ◽  
Rights Issues ◽  
Debt Payment

<p><em>The objective of this study is to examine the difference of investor reaction on rights issue announcement pursuant to the purpose of using fund in Indonesia capital market. Investor react positively if the most using fund of right issue for investment and investor react negatively if the most using fund of right issue for debt payment. This study also examine influence offering price of right issue to investor reaction.</em></p><p><em>The samples are 55 firms that listing the rights issues in Indonesia Stock Exchange. Event study with 21 event window (from day -10 to day +10) are used to investigate the investor's reaction. Investor reaction is proxyed by abnormal return that was calculated by market-adjusted model. To investigate the determinants in investor's reactions are used linier regression between cumulative abnormal return for several days (determined based on significant abnormal return) as dependent variable and the purpose of using fund with dummy and offering price as independent variables.</em></p><p><em>The conclusions of this study are: (1) </em><em>investor react to right issue announcement, proved by significant abnormal return around right issue announcement date; (2) </em><em>investor react positively to right issue announcement that mostly using fund for investment; (3) investor react negatively to right issue announcement that mostly using fund for debt payment; (4) offering price of right issue have positively influential to investor reaction.</em></p>

scholarly journals Reaksi Pasar Atas Pengumuman Anugerah Program Penilaian Peringkat Kinerja Perusahaan dalam Pengelolaan Lingkungan Hidup

2021 ◽  
Vol 31 (9) ◽  
pp. 2240
Author(s):  
I Gde Ary Wirajaya ◽  
Teresia Arta Pangestu
Keyword(s):  
Environmental Management ◽  
Abnormal Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Management Program ◽  
T Test ◽  
Company Performance ◽  
Announcement Date ◽  
Analysis Technique ◽  
A Company

This study aims to examine the market's reaction to information regarding the announcement of a company performance rating assessment program award in environmental management. Market reaction is measured by abnormal return around the announcement date of the environmental management program. This research is conducted at the Indonesia Stock Exchange. The population in this study are all publicly listed companies receiving PROPER awards listed on the IDX in 2018 for a total of 51 companies. Samples that met the purposive sampling criteria are 50 companies. The analysis technique used is one sample t-test and independent samples t-test.  The results of this study indicate that there is a market reaction around the PROPER rating announcement date, and there is no different market reaction between companies with good ratings and companies with bad ratings. Keywords: Event Study; Abnormal Return; PROPER.

scholarly journals Analisis Reaksi Pasar Atas Peristiwa Pilkada Serentak Tahun 2018

2019 ◽  
pp. 1171
Author(s):  
Ni Nyoman Wahyu Suryani ◽  
Ni Ketut Rasmini
Keyword(s):  
Event Study ◽  
Abnormal Return ◽  
Trading Volume ◽  
Market Reaction ◽  
Sampling Technique ◽  
Volume Activity ◽  
Analysis Technique ◽  
Average Abnormal Return ◽  
Before And After ◽  
Regional Elections

This study aims to determine market reaction in the event of simultaneous regional elections in 2018. This research is an event study with a period of observation for 7 days. The study was conducted on companies classified as LQ45 from February to July 2018. The population in this study was 45 companies. The method of determining the sample used is a non probability sampling method with a purposive sampling technique. The sample obtained was 37 companies. The market reaction to the 2018 simultaneous regional elections was measured using abnormal return and trading volume activity. The data analysis technique used is paired-sample t-test. The test results show that there is no difference in average abnormal return and trading volume activity before and after the events of simultaneous regional elections. This shows that simultaneous regional elections in 2018 did not cause market reaction because there was no information content on the event. Keywords: Event study, abnormal return, politics

THE EFFECT OF RISK, PROFITABILITY, AND LIQUIDITY ON CAPITAL ADEQUACY

2019 ◽  
Vol 24 (1) ◽  
pp. 36-50
Author(s):  
Fransisca Carindri ◽  
Untara
Keyword(s):  
Stock Exchange ◽  
Risk Index ◽  
Sample Selection ◽  
Predictive Ability ◽  
Sampling Technique ◽  
Capital Adequacy ◽  
Return On Assets ◽  
Net Interest Margin ◽  
Analysis Technique ◽  
Research Population

The purpose of this research was to determine the effect of partial Non Performing Loan (NPL), Risk Index (ZRISK), Return on Assets (ROA), Net Interest Margin (NIM), Loan to Deposit Ratio (LDR) and Loan to asset Ratio (LAR) to the Capital Adequacy Ratio (CAR) on banking companies listed on the Stock Exchange. The research population was banking companies listed in Indonesia Stock Exchange during the three (3) year period from 2010 to 2012. The sample used in this research was determined using purposive sampling technique in which there are 29 companies that meet the criteria for sample selection. The analysis technique used is multiple linear regression and the processing of the data using SPSS v15.0. The results showed that the ROA, LDR, and LAR have no significant effect on CAR. While the NPL, Risk Index and NIM have a significant effect on CAR. Predictive ability of the six independent variables on CAR was at 32.9 % while the remaining 77.1 % is influenced by other factors not included in the regression model. Keyword: Risk, Profitability, Liquidity, Capital Adequacy

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