PENGARUH KECANGGIHAN INVESTOR TERHADAP KETEPATAN REAKSI PASAR DALAM MERESPON PENGUMUMAN DIVIDEN MENINGKAT
Abstract: The primary purpose
of this study is to test the impact of investor sophistication toward the
accuracy of market reactions in responding dividend increase announcement at
the Jakarta Stock Exchange. The study employs the proportion of firm shares
held by institutional investors as the proxy for investor sophistication. The
sample for this research is 80 companies during the period of 2000-2002. The
result indicates there is no impact of investor sophistication toward accuracy
of market reactions in responding dividend increase announcement at Jakarta
Stock Exchange.
Keyword: dividend increase,
information content, decisionally efficient market, investor sophistication,
institutional ownership
Penulis: Marfuah
Kode Jurnal: jpakuntansidd060012
