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 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 Reaksi Pasar Atas Pengumuman Paket Kebijakan Ekonomi X Tentang Daftar Negatif Investasi

2017 ◽  
pp. 104
Author(s):  
Gusti Ayu Surya Rosita Dewi ◽  
Dewa Gede Wirama ◽  
Ni Ketut Rasmini
Keyword(s):  
Economic Policy ◽  
Abnormal Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
T Test ◽  
Cumulative Abnormal Return ◽  
Analysis Technique ◽  
Event Study Method ◽  
The One ◽  
Business Sectors

ABSTRACT This study aims to empirically test the market reaction that occurs upon the announcement of Economic Policy Package X about the negative investment list (DNI). This study using event study method. The market reaction is calculated using cumulative abnormal return (CAR). The population used are all companies listed on the Indonesian Stock Exchange (BEI), 525 companies. The number of samples used are 477 companies. The analysis technique used is the one sample t-test and the independent sample t-test.  The analysis showed that there is a positive market reaction to the announcement of the Economic Policy Package X. Furthermore, there are differences in the reaction that occurs between the business sectors that benefited by the policy than other business sectors. The highest reaction is shown by the business sectors that benefited by the policy. Business sectors which are benefited by the policy announcement obtained higher market reaction than their counterpart. Keywords: Market reaction, economic policy package X, negative list investment, abnormal return

scholarly journals Reaksi Pasar Terhadap Peristiwa Pemilihan Presiden Indonesia 2019

2019 ◽  
Vol 29 (3) ◽  
pp. 1026
Author(s):  
I Gede Aditya Baskara ◽  
Made Gede Wirakusuma
Keyword(s):  
Event Study ◽  
Presidential Election ◽  
Stock Prices ◽  
Abnormal Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Statistical Tests ◽  
Abnormal Returns ◽  
T Test ◽  
Significant Difference

This research is an event study that aims to determine the market reaction arising from the 2019 Indonesian presidential election, against companies listed in the infrastructure stock sector on April 17, 2019, using the abnormal return indicator. This study uses secondary data in the form of daily stock prices per company during the period with the population of the infrastructure sector listed on the Indonesia Stock Exchange. The statistical tests used to test hypotheses are descriptive statistical tests, normality tests and one sample t-test. The results of the one sample t-test on abnormal return is that there is no significant difference, which means the market does not respond to the event. These results indicate that the efficient market is not answered in the 2019 Indonesian presidential election due to the absence of abnormal returns in it. Keywords : Event Study, Market Reaction, Abnormal Return, 2019 Indonesian Presidential Election.

scholarly journals The Capital Market Reaction To The Corona Covid-19 Virus Outbreak Events

Academia Open ◽  
2021 ◽  
Vol 3 ◽  
Author(s):  
Wardah Azizah ◽  
Nurasik
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
T Test ◽  
Paired Sample ◽  
Significant Difference ◽  
Real Picture ◽  
The Capital Market

This study aims to get a real picture of the Capital Market Reaction to the Corona Covid-19 Virus Outbreak (Study on LQ-45 Companies Listed on the Indonesia Stock Exchange). The analytical tool used is descriptive statistical analysis and classical assumption test. To test the hypothesis, it is done using data analysis in the form of Paired Sample T-Test using the statistical program "Product and Service Solution" (SPSS). The results of hypothesis testing using paired sample t-test obtained t-value with a significant value of 0.000 (0.000 <0.05). From these results, it can be stated that the hypothesis is accepted, which means that there is a significant difference in abnormal returns before and after the Corona / Covid-19 Virus Outbreak. The difference in Abnormal Return on the test results has a positive value, this shows that if the Corona / Covid-19 Virus Outbreak has increased, the Abnormal Return value will increase.

scholarly journals Analisis Reaksi Pasar Atas Pengumuman Peringkat Kinerja Perusahaan Dalam Pengelolaan Lingkungan Hidup

2019 ◽  
Vol 29 (3) ◽  
pp. 1152
Author(s):  
Komang Winda Trinadewi ◽  
Gerianta Wirawan Yasa
Keyword(s):  
Event Study ◽  
Environmental Performance ◽  
Market Reaction ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
T Test ◽  
Test Results ◽  
Market Reactions ◽  
Analysis Technique ◽  
The One

This study aims to determine the market reaction to the PROPER announcement event and whether there are differences in market reactions between good ratings and poor PROPER ratings. This research is an event study with a window of events for 5 days. The study was conducted on PROPER participating companies listed on the Indonesia Stock Exchange from 2015 to 2017. The number of samples that met the criteria were 39 companies. PROPER announcements are measured using abnormal returns. The analysis technique used is the one sample t-test and the independent t-test. The test results show that the PROPER announcement was reacted negatively by the capital market, and there was no difference in market reaction between good ratings and bad ratings. Keywords : Event Study; Abnormal Return; Environmental Performance; PROPER.

scholarly journals REAKSI PASAR TERHADAP PERUBAHAN DIVIDEN DENGAN INDIKATOR ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY

2015 ◽  
Vol 11 (2) ◽  
pp. 200
Author(s):  
Adhe Raka Setiawan ◽  
Bandi Bandi
Keyword(s):  
Real Estate ◽  
Event Study ◽  
Abnormal Return ◽  
Trading Volume ◽  
Market Reaction ◽  
Stock Exchange ◽  
T Test ◽  
Volume Activity ◽  
Paired Sample ◽  
Event Date

Abstrak: Reaksi Pasar Terhadap Perubahan Dividen dengan Indikator Abnormal Return dan Trading Volume Activity. Penelitian ini bertujuan untuk mengetahui reaksi pasar terhadap perubahan dividen, yaitu dividen tetap, dividen naik, dividen turun, dividen inisiasi, dan dividen omisi dengan indikator abnormal return dan trading volume activity pada perusahaan yang terdaftar di Bursa Efek Indonesia pada sektor properti, real estate, dan konstruksi bangunan periode 1998-2015. Penelitian ini menggunakan desain event study, di mana dilakukan pengamatan 5 hari sebelum dan 5 hari sesudah peristiwa. Analisis data yang digunakan dalam penelitian ini adalah Uji Paired Sample t-test. Hasil penelitian menunjukkan bahwa hanya dividen tetap dan dividen inisiasi dengan indikator trading volume activity terjadi reaksi pasar secara signifikan. Hasil penelitian ini juga menunjukkan bahwa untuk melihat reaksi pasar lebih baik menggunakan indikator trading volume activity dari pada abnormal return.Kata kunci: dividen, abnormal return, trading volume activity.Abstract: Market Reaction to Dividend Change with Abnormal Return and Trading Volume Activity as Indicators. The aim of this study is to find the influence of dividend change on market reaction, which are fixed dividend, rise dividend, fall dividend, initiation dividend, and omission dividend with abnormal return and trading volume activity as indicators at the companies listed in Indonesian Stock Exchange in property, real estate, and building construction sectors in 1998-2015. This study employs event study, in which it is observed within 5 days before and 5 days after the event date. Paired Sample t-test is utilized to analyze the data. The results show that fixed dividend and initiation dividend using average trading volume activity have significant effect on market reaction. Furthermore, it also suggests that to comprehend market reaction, trading volume activity is better indicator rather than abnormal return.Keywords: dividend, abnormal return, trading volume activity.

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 Reaksi Pasar Atas Pengumuman Stock split

2019 ◽  
pp. 1448
Author(s):  
Putu Gede Aditama Putra ◽  
I Gusti Ngurah Agung Suaryana
Keyword(s):  
Information Content ◽  
Capital Market ◽  
Abnormal Return ◽  
Market Reaction ◽  
Abnormal Returns ◽  
Sampling Technique ◽  
Analysis Technique ◽  
Stock Split ◽  
The One ◽  
A Company

Every corporate action carried out by a company has the potential for information content as signal. The purpose of this study is to reexamine the market reaction to the announcement of the stock split proxied by using abnormal return. Testing information content will be done by looking at the cumulative abnormal return significance. The method of determining the sample is by nonprobability purposive sampling technique. The data analysis technique used was the One Sample t-test. The results of this study indicate there is a market reaction to the announcement of the stock split. This is indicated by the existence of abnormal returns around the announcement of the stock split. The results of this study theoretically can provide empirical evidence that strengthens the signaling theory that the information published by the issuer is reacted by the market, which shows that any accounting information that enters the capital market has information content. Keywords: Stock split, abnormal return.

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.

Uji Komparasi Abnormal Return, Trading Volume, Trading Frequency, Dan Bid-Ask Spread Sebelum Dan Sesudah Share Split

2016 ◽  
Vol 8 (2) ◽  
pp. 24-45
Author(s):  
Tania Hayu Safira ◽  
Febryanti Simon
Keyword(s):  
Abnormal Return ◽  
Trading Volume ◽  
Stock Exchange ◽  
Distributed Data ◽  
Trading Frequency ◽  
Bid Ask Spread ◽  
Analysis Technique ◽  
Before And After ◽  
Test Of Hypothesis ◽  
Kolmogorov Smirnov

This study is event study that was conduct to examine the differences of abnormal return, trading volume, trading frequency and bid-ask spread before and after the events of share split. The object of this research is the companies that did share split and listed in Indonesia Stock Exchange in 2008 - 2015. The samples are 30 companies chosen by purposive sampling method. The criteria are the company did not do corporate action right issue, pre-emptive rights, a share dividend and bonus shares in the same year with share split. Event window used in this study was 30 days consisting of 15 days before and 15 days after the share split. Data analysis technique begins with a test of normality using Kolmogorov – Smirnov and transform for unnormally distributed data. Then, test of hypothesis using Paired t – test to compare the differences before and after share split. The results of this study showed that volume trading activity and trading frequency had significant differences before and after the share split. While, variable abnormal return and bid-ask spread had not significant differences before and after the share split. Keywords: Abnormal return, bid-ask spread, share split, trading frequency, trading volume.

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