Reaksi pasar modal Indonesia terhadap stock split perusahaan publik di Bursa Efek Jakarta periode 2001-2005

Fatmawaty, Leny (2005) Reaksi pasar modal Indonesia terhadap stock split perusahaan publik di Bursa Efek Jakarta periode 2001-2005. Masters thesis, Widya Mandala Catholic University Surabaya.

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Abstract

This research wants to know reaction market of stock splits on the Jakarta Stock Exchange (JSX). New information is "the basic need" for investor or traders on the stock market, because they use it this information in their investment decision making. Research on stock splits has frequently been undertaken. The results vary, but fundamentally can be classifield into two groups. First, the stock split is purely "cosmetic". Second, the stock split has a real effect on stocks. The difference between opinions raises controversy. This research examines thirty seven companies which did stock splits in Jakarta Stock Exchange during January 2001 to September 2005. This research explored the issue by applying two methods of analysis : the event study methodology for analyzing the market reactions, and the analysis of statistical differences caused by the event. Overall, the result of this research show that market reaction during the period surrounding stock split. The finding of this research indicate that abnormal returns are negative and significant. Besides that, this research founds a significant difference cumulative average abnormal return, low rasio group have high cumulative average abnormal return than high rasio group. This research recommend that the company consider exercising a stock split in order to bring its stock price into a more popular trading range.

Item Type: Thesis (Masters)
Uncontrolled Keywords: Stock splits, abnormal return, event study, Jakarta Stock Exchange, trading range.
Subjects: Business
Business > Financial Management
Divisions: Graduate School > Master Program in Management
Depositing User: Sri Kusuma Dewi
Date Deposited: 31 Mar 2015 02:59
Last Modified: 31 Mar 2015 02:59
URI: http://repository.wima.ac.id/id/eprint/1613

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