REAKSI PASAR ATAS STOCK SPLIT PADA EMITEN SAHAM SYARIAH DI BURSA EFEK INDONESIA PERIODE 2011-2014
ABSTRACT: The aims of this
study are to identify and explain the market reaction as the result of corporate
action in the form of stock split managed by the stock issuers registered with Jakarta
Islamic Index and Indonesia Sharia Stock Index from period 2011 to 2014. This
study used quantitative approach with event study method. Those stock issuers
also have to perform the stock split and have been registered with ISII and JII
to fulfill the requirements of this study. While the focus of this study is the
reaction indicated by the change of AAR and CAAR by doing several test such as
one sample t-test and paired sample t-test by defining the level of significant
in the amount of 5%. The results of the study indicate there is no significance
difference in the AAR before and after the stock split, but there is a quite
significance difference in the CAAR.
Keywords: Market Reaction,
Stock Split, Stock Return, Average Abnormal Return, Cumulative Average Abnormal
Return
Penulis: Aldila Vania Jasmine
Kode Jurnal: jpmanajemendd151469
