IS PRIYONO, YULIUS (2014) PENGARUH PENGUMUMAN DIVIDEN TERHADAP PERUBAHAN HARGA SAHAM SEBELUM DAN SESUDAH EX- DIVIDEND DATE DI BURSA EFEK INDONESIA (Studi Kasus Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia). Masters thesis, UPN ''VETERAN'' YOGYAKARTA.
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Abstract
This study aimed to analyze the effect of dividend announcement on stock price changes at the companies listed in Indonesia Stock Exchange , with a sampling of 38 stocks of companies listed on the Indonesia Stock Exchange . The study period consisted of 11 days ie 5 days before the ex - dividend date ( t - 5 ) , 5 days after the ex - dividend date ( T + 5 ) and the ex - dividend date was announced ( t - 0 ) .The method used in this research study is the event that will observe the movement of stock prices in the capital market . To examine the price reaction tests abnormal stock returns during the event period of 11 days . In this study the stock price is represented by the JCI . Analysis of the balance computation method Capital Asset Pricing Model (CAPM) . The results of this study indicate the 5% significance level there are 2 working days resulted in levels of positive abnormal returns prior to the event date ie on day 5 before the event date by 0.0035 , or approximately 3 % and on day 4 before the event date amounted to 0 , 0040 , or about 4 % . On day 3 , to 2 and to 1 before the event date does not generate positive abnormal returns . At the moment it does not give a date evnt abnormal return means also . While at the time after the event date abnormal returns exchanges do not give negative or not shall mean even on day 5 after the event date stock price dropped sharply. From the results of the study concluded that a dividend information react positively to changes in stock prices at the time before the ex - dividend date and dividend payment information to react negatively to the stock price at the time after the ex - dividend date . Keywords : Dividend , Ex - Dividend Date , Stock Price
| Item Type: | Thesis (Masters) |
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| Subjects: | H Social Sciences > HC Economic History and Conditions |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Erny Azyanti |
| Date Deposited: | 03 Nov 2016 01:43 |
| Last Modified: | 03 Nov 2016 01:43 |
| URI: | http://eprints.upnyk.ac.id/id/eprint/8275 |
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