ANALISIS REAKSI HARGA SAHAM DAN VOLUME PERDAGANGAN ATAS PENGUMUMAN DIVIDEN KAS (Studi Empiris pada Perusahaan yang Listing di Bursa Efek Indonesia Tahun 2013 - 2015)
Abstract: This research aims
to analyse then influence cash dividend announcemet to abnormal return,
cumulative abnormal return, dan trading volume activity before and after cash
dividend announcement. Period of research which used from 2013 – 2015.
The research type is even study method. Research population used all
company which listed in Indonesia Stock Exchange. Technique of choosing sample
is used purposive sample and get 67 company from 234 even study cash dividend
announcement. The data used in this research obtained from website KSEI,
website BEI, Online Trading System of Mirae Asset Sekuritas. The determination
of return is using market adjusted model. Analyze technique used parametic test
which using to examine hyposthesis in this research is statictic descriptive,
normality test, one sample t-test and paired sample t-test.
The result of the research are : (1) Cash dividend anncouncement not
affect to abnormal return, it means there is no significant difference in
average abnormal return between before and after the announcement of cash
dividend. (2) Dividend announcement is affect to cumulative abnormal return, it
means there is a difference in average cumulative abnormal return that is
significant between before and after the announcement of cash dividend. (3)
Dividend announcement is not affect to trading volume activity, it means there
is no significant difference in average abnormal return between before and
after the announcement of cash dividend.
Keywords: Cash dividen,
Abnormal return, Cumulative abnormal, Trading volume activity, Event study
Penulis: Yoga Gigih Aprilia,
A. Mulyo Haryanto
Kode Jurnal: jpmanajemendd170807
