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Detail
BukuAnalisis Dampak Pengumuman Right Issue Berdasarkan Tujuan Penggunaan Dana Terhadap Abnormal Return Saham Di Bursa Efek Indonesia (BEI) Periode 2011-2015
Bibliografi
Author: SALIM, RUBEN ; Panjaitan, Yunia (Advisor)
Topik: Right Issue; Abnormal Return; Event Study; Market Model.
Bahasa: (ID )    
Penerbit: Program Studi Akuntansi Fakultas Ekonomi dan Bisnis Unika Atma Jaya     Tempat Terbit: Jakarta    Tahun Terbit: 2017    
Jenis: Theses - Undergraduate Thesis
Fulltext: Ruben Salim’s Undergraduate Theses.pdf (2.07MB; 64 download)
Ketersediaan
  • Perpustakaan Pusat (Semanggi)
    • Nomor Panggil: FEA-6923
    • Non-tandon: tidak ada
    • Tandon: 1
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Abstract
The aim of this research is to analyze the impact of right issue announcement on abnormal return based on the use of funds in Indonesia Stock Exchange (IDX). Abnormal return is used as a proxy of investor reaction to the announcement. Efficient market hypothesis state that stock prices will fully reflect all available information. If abnormal return appear around the day of announcement, the right issue announcement contains information. There are 20 companies listed on IDX in 2011-2015 that are used as sample in this research where 18 of them have the purpose to do more investment and 2 companies have the purpose to repay the debt. Event period with 31 days period (from day – 15 to day + 15) is used. Abnormal return is computed by statistical approach using market model. Wilcoxon signed rank test is used as the data analytical method. This research shows that there is significant difference in before and after right issue announcement on average abnormal return with the used of fund to do more investment. However, there is no significant difference between before and after right issue announcement of average abnormal return with the purpose of debt repayment. The condition of IDX in 2011-2015 did not meet the semistrong form of efficient market of hypothesis criteria which is signaled by abnormal return that still appeared days after the right issue announcement.
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