REAKSI PASAR TERHADAP PENGUMUMAN DIVIDEN PADA PERUSAHAAN YANG MASUK CORPORATE GOVERNANCE PERCEPTION INDEX
ABSTRACT: The objective of
this research is to empirically examine about the market reac-tion to dividend
announcement at the firms included Corporate Governance Perception Index
(CGPI). The analysis includes two aspects: Security Return Variability (SRV)
and Trading Volume Activity (TVA) of dividend announcement. The sample of this
research is the firms that included Corporate Governance Perception Index
(CGPI) at the period of 2003–2005 and they have dividend announcement at the
period of 2004–2006. Based on purposive sampling method, the sample used in
this research is 58 firms. Data were analyzed using one sample t-test. The
results of this research show that dividend announce-ment at the firms included
Corporate Governance Perception Index (CGPI) has information content and
statistically significant responded by the market around the date dividend
announcement.
Keywords: Dividend
announcement, Corporate Governance Perception Index, Security Return
Variability and Trading Volume Activity
Penulis: EVI GANTYOWATI dan
YAYUK SULISTIYANI
Kode Jurnal: jpakuntansidd080043
