REAKSI PASAR TERHADAP PENGUMUMAN DIVIDEN DI BURSA EFEK INDONESIA
ABSTRACT: The development of
the growing world economy is caused by the linkage of the economic actors in it
and one of them is the company that plays an active role in the economic
development of Indonesia. This study aims to analyze market reaction to the
announcement of dividend in Indonesia Stock Exchange. The population in this
study is the company that announced its dividend in the period 2015. The method
used in determining the sample is the quota sampling method and obtained as
many as 45 issuers that meet the quota sampling criteria. Tests in this study
using event study approach with the analysis techniques used to test the level
of significant abnormal return is the test t-test. The result that can be
obtained from this research is the market reacts negatively at the time of
dividend announcement with period of time (day t-7 until day t + 7) with marked
not significant abnormal return. The results can be interpreted that the
dividend announcement has no information content and is not considered
important information for investors.
Penulis: Ketut Satya Pramana, Nyoman
Abundanti
Kode Jurnal: jpmanajemendd170237
