scholarly journals Dividend Announcement Effect To Market Reaction in Non-Financial Companies Listed on Indonesia Stock Exchange

2019 ◽  
Vol 1 (2) ◽  
pp. 167-180
Author(s):  
Alvin Fabian ◽  
Eko Budi Santoso
Keyword(s):  
Event Study ◽  
Sampling Method ◽  
Market Reaction ◽  
Stock Exchange ◽  
Test Results ◽  
Event Window ◽  
Event Study Method ◽  
Before And After ◽  
Dividend Initiations ◽  
Dividend Omissions

Abstract: This study aims to examine the differences in market reaction before and after the announcement of dividend omissions and dividend initiations in non- financial companies listed on the Indonesia Stock Exchange in 2016-2018. The sample used in this study was 71 companies consisting of 26 companies that announced dividend omissions and 45 companies that announced dividend initiations. The sample was determined using the purposive sampling method. This study used the event study method with an event window period of 5 days before the announcement, the announcement day, and 5 days after the announcement. The Wilcoxon Signed Ranks Test results in this study indicate that there are no differences in market reaction before and after the announcement of dividend omissions. Meanwhile the announcement of dividend initiations shows that there are differences in market reaction before and after the announcement of dividend initiations. Keywords: Event study, Dividend Omissions, Dividend Initiations, Abnormal Return

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 Reaksi Pasar Atas Pengumuman Hasil Pemilihan Kabinet Kerja Jilid II Presiden Indonesia Tahun 2019

2020 ◽  
Vol 30 (11) ◽  
pp. 2852
Author(s):  
I Gede Putra Subawa ◽  
Ni Putu Sri Harta Mimba
Keyword(s):  
Event Study ◽  
Sampling Method ◽  
Market Reaction ◽  
Abnormal Returns ◽  
Test Results ◽  
Event Window ◽  
Work Volume ◽  
Analysis Technique ◽  
Election Results ◽  
The One

This study aims to determine the existence of market reaction to the Announcement of the Election Results of the Cabinet Work Volume II of the President of Indonesia in 2019. This research is an event study with event window for 7 days. The study was conducted on companies listed in the LQ-45 Index for the period August-January 2020. The population of this study were 45 companies listed in the LQ-45 index. The sampling method used is the purposive sampling method. Market reaction to the Announcement of the Election Results of the Cabinet Work Volume II of the President of Indonesia in 2019 was measured using abnormal returns. The data analysis technique used is the one-sample t-test. The test results show that there was a market reaction when the Announcement of the Results of the Election of Cabinet Work Volume II of the President of Indonesia in 2019. Keywords: Event Study; Work Cabinet Announcement; Abnormal Return.

scholarly journals Analisis Reaksi Pasar Terhadap Pengumuman Merger dan Akuisisi Pada Perusahaan Akuisitor yang Terdaftar di BEI

2018 ◽  
pp. 1870
Author(s):  
Ika Putri Adnyani ◽  
Gayatri Gayatri
Keyword(s):  
Abnormal Return ◽  
Trading Volume ◽  
Sampling Method ◽  
Stock Exchange ◽  
Cumulative Abnormal Return ◽  
Test Results ◽  
Volume Activity ◽  
Paired Sample ◽  
Analysis Technique ◽  
Before And After

This research is conducted on all acquisition companies that conduct acquisitions listed on Indonesia Stock Exchange 2011-2016 period. Sampling method using purposive sampling. The number of samples of this research is 50 companies. The market reaction in this study used abnormal return and trading volume activity. The testing of information content will be done by looking at differences in cumulative abnormal return and the average trading volume of shares five days before and five days after the announcement of the acquisition. Data analysis technique used is paired sample t-test. Based on the test results, found there are significant differences in the abnormal return of the acquirer company before and after the announcement of the acquisition. However, there is no difference in trading volume activity of the acquirer's stock before and after the acquisition announcement   Keywords: acquisitions, stock market, abnormal return, trading volume activity

scholarly journals ANALISIS PERBEDAAN RETURN SAHAM SEBELUM DAN SESUDAH PENGUMUMAN RIGHT ISSUE

2014 ◽  
Vol 4 (2) ◽  
pp. 121
Author(s):  
Masdalena Masdalena ◽  
Aftoni Sutanto
Keyword(s):  
Stock Returns ◽  
Stock Exchange ◽  
T Test ◽  
Test Results ◽  
Test Analysis ◽  
Event Window ◽  
Before And After ◽  
Sample Test ◽  
The Right ◽  
Rights Issue

This research aims to determine whether there are differences in stock returns before and after the announcement of the rights issue on the Indonesia Stock Exchange 2009-2013 period. This study was conducted on 43 companies listed in the Indonesia Stock Exchange right issues in the year 2009 to 2013, with a purposive sampling method. This research used the t-test analysis test by way Paired Sample Test with the observation period (event window) there are 20 days, t-10 (10 days prior to the announcement of the rights issue) and t + 10 (10 days after the announcement of the right issue). The announcement of the test results are known to contain information because the announcement led to market tereaksinya indicated by the presence pf abnormal return that occurred and the results of t-test menunjukkan significance value 0.036<α0.05 to distinction stock returns 10 days prior to the stock return 10 days after the announcement of the right issue. This that information is not leaked.

scholarly journals Dampak Stock Split terhadap Abnormal Return dengan Pendekatan Event Study pada Emiten yang Terdaftar di Bursa Efek Indonesia

2021 ◽  
Vol 4 (2) ◽  
Author(s):  
Achmad Azis Fauzi ◽  
Ali Mutasowifin
Keyword(s):  
Event Study ◽  
Sampling Method ◽  
Stock Exchange ◽  
Abnormal Returns ◽  
T Test ◽  
Test Results ◽  
Study Approach ◽  
Stock Split ◽  
Range Theory ◽  
Sample Category

Investing in stock instruments in the capital market is interesting for many investors, both local and foreign. However, when the price of stocks is considered too expensive, that will reduce the purchasing power of investors towards these shares and the liquidity of the shares will decrease as well that will impact the decreasing returns of investors. Overcoming this condition, companies often take corporate action in the form of a stock split. This study analyzes the effect of stock split on abnormal returns of companies listed on the Indonesia Stock Exchange in 2015-2019. Using a purposive sampling method (nonprobability sampling) we obtained 34 companies as a research sample. We use the event study approach for data processing in finding abnormal returns and t-test as well. This study classifies samples into two categories, complex sample category, and sectoral industries. The result shows that for the complex category, there are three out of eleven days of events that have an impact on abnormal returns marked by the t-test results greater than t-table. Whereas in each sectoral industries there are only five affected sectors, three unaffected sectors and one sector cannot be tested due to insufficient data. This result is also consistent with theories related to the stock split, signaling theory, and trading range theory.

Investor Reactions on Emitents Who Published Corporate Sukuk Listed in Indonesia Stock Exchange

2020 ◽  
Vol 2 (2) ◽  
pp. 93-103
Author(s):  
Kasman Damang ◽  
Eka Afnan Troena ◽  
Muhammad Ali ◽  
Abdul Hamid Habbe
Keyword(s):  
Event Study ◽  
Abnormal Return ◽  
Trading Volume ◽  
Market Reaction ◽  
Stock Exchange ◽  
Volume Activity ◽  
Average Value ◽  
Average Abnormal Return ◽  
Before And After ◽  
The Difference

This study applied an event study approach  (event study).  The event tested the announcement of Sukuk emissions and market reactions as indicated by the existence of a significant Abnormal Return on the date of Sukuk emissions and it changed within the activity of Stock Trader of the Corporation Sukuk Issuer. Observation period between 2009-2018, there was 129 Sukuk emissions in Indonesia Stock Exchange. The number of samples taken was 26 emissions of Sukuk which make emissions from 12 issuers that met the set criteria. Data were analyzed using descriptive statistical analysis, independent t-test, t-paired test, and regression analysis.  Furthermore, the data were processed using IBM SPSS for Windows Software. The results showed that there was a difference in Average Abnormal Return (AAR) before and after the announcement of Sukuk emissions. However, the average value of the difference was not statistically significant. There was a positive market reaction on Average Abnormal Return (AAR) before the announcement of Sukuk emissions. There was a positive market reaction on Average Abnormal Return (AAR) after the announcement of Sukuk emissions. There were differences in the Average Trading Volume Activity (ATVA) before and after the announcement of Sukuk emissions. However, the average value of the difference was not statistically significant. There was a significant market reaction on Average Trading Volume Activity (ATVA) before the announcement of Sukuk emissions. There was a significant market reaction of Average Trading Volume Activity (ATVA) after the announcement of Sukuk emissions. Furthermore, this study also found that Sukuk to Equity Ratio (SER) had a positive effect, but not significantly on the level of  Return on Assets (ROA), Return on Equity (ROE), and Earning per Share (EPS), but it was not significant. These insignificant effects of  SER  on the issuer's  ROA,  ROE  and  EPS were caused by the relatively small proportion of Sukuk value compared to the value of assets and company equity.

scholarly journals Reaksi Pasar Terhadap China's Black Monday di Bursa Efek Indonesia

2017 ◽  
pp. 2635
Author(s):  
Gde Agung Satria ◽  
Luh Gede Sri Artini ◽  
Henny Rahyuda
Keyword(s):  
Real Estate ◽  
Event Study ◽  
Consumer Goods ◽  
Agricultural Sector ◽  
Market Reaction ◽  
Stock Exchange ◽  
Mining Sector ◽  
Basic Industry ◽  
Event Study Method ◽  
Infrastructure Finance

This study aimed to test market’s reaction of the China's Black Monday (CBM) at the Indonesian Stock Exchange (BEI). This research was conducted on all companies listed on the Stock Exchange which did not conduct corporate action in the event period. All the companies researched are divided into nine sectors and industries are classified according to the classification established by BEI called JASICA (Jakarta Industrial Classification). Event study method used to test the market reaction to the CBM. Based on the research results, there is a significant market reaction on eight sectoral index in the Indonesia Stock Exchange, namely the Agricultural Sector; Miscellaneous Industry; Basic Industry and Chemistry; Consumer Goods industry; Property and Real Estate; Transportation and Infrastructure; Finance; and Trade, Services and Investment while the Mining Sector Index does not react to CBM.

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 PENGARUH PENGUMUMAN MERGER DAN AKUISISI TERHADAP RETURN SAHAM PERUSAHAAN AKUISITOR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2005-2008

2011 ◽  
Vol 1 (1) ◽  
pp. 13
Author(s):  
Rina Kurniawati ◽  
Hendro Setyono
Keyword(s):  
Mergers And Acquisitions ◽  
Abnormal Return ◽  
Stock Exchange ◽  
Sample Selection ◽  
T Test ◽  
Test Results ◽  
Event Window ◽  
Exchange Event ◽  
Average Abnormal Return ◽  
Before And After

Purpose of this study to prove whether an announcements of mergers and acquisitions responded by market players so produce abnormal return for companies. This study also triying prove whether there abnormal return before and after an announcements of mergers and acquisitions.Data used in this study is companies conducting mergers and acquisitions listed at the Indonesia Stock Exchange period 2005-2008. Sample selection use purposive sampling. Samples obtained amount 11 company.From the analysis, use one sample T-Test obtained results calculation average abnormal return (AAR) shows that of overall average abnormal return (AAR) not found abnormal return significant. So can concluded that there is not differences abnormal return stock acquiring company about information an announcement of mergers and acquisitions announced acquiring company.Other findings in this study is test results by using uji t paired produce significant count is 0,007. Then hypothesis 2 this study able to prove. So it can be concluded that there significant differences abnormal return before and after an announcement of mergers and acquisitions.Limitations in this study is a limited number of samples caused still rare company that does mergers and acquisitions listed at the Indonesia Stock Exchange. Event window short only 21 days is 10 days before and 10 days after an announcement.

scholarly journals ANALISIS DAMPAK PERISTIWA PENGUMUMAN PERINGKAT SUKUK TERHADAP REAKSI PASAR PADA PERUSAHAAN YANG TERDAFTAR DI JAKARTA ISLAMIC INDEX (JII)

2019 ◽  
Vol 4 (2) ◽  
pp. 270-278
Author(s):  
Fadila Imran ◽  
Meutia Fitri
Keyword(s):  
Capital Market ◽  
Market Reaction ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Average Abnormal Return ◽  
Event Study Method ◽  
Before And After ◽  
Study Case ◽  
The Impact

The purpose of this research is to analyze the impact of sukuk rating announcement event upon market reaction in company which registered at Jakarta Islamic Index (JII) from 2011 until 2015 using average abnormal return during five days before and after event. The type of data used in this research is secondary data which obtained from financial statements publishing by capital market reference center that existed in Indonesia Stock Exchange. The sample used in this research is study case with the total of the population is 7 companies. Method used in this research is purposive sampling which yielded 5 companies sample for sukuk rating announcement event. Meanwhile, the examination of hypothesis used is event study method. The result of this research illustrate that sukuk rating announcement event did not give an impact upon market reaction. However, in case of considering each variable, there is a difference between before and after the occurrence of sukuk rating announcement event.

Sign in / Sign up

Export Citation Format

Share Document