Detail Growth opportunities, business group, and right issues in Indonesia   Oleh:  Hariman, Ignatius Aldrich ; Suk, Kim Sung Jenis: Article from Proceeding Dalam koleksi: Proceeding IConEnt 2016 (International Conference on Entrepreneurship) : How Innovation could Improve the Performance and Productivity in Entrepreneurship?, page 1-15. Fulltext: Ignatius Aldrivh Hariman, Kim Sung Suk.pdf (410.24KB) Isi artikel This research is aimed to assess the effect of the rights issue to market return around ex-date and the factors that affect the cumulative abnormal return, in particular growth opportunities and business groups, as well as other control variables. The total sample is 163 issuers which conduct right issue in Indonesia Stock Exchange from period 2001 to 2013. Event study method is used in order to calculate the amount of abnormal return around the ex-date. Furthermore, the factors that affect rights issue is tested with multiple regression method. The results show a significant negative market reaction at the ex-date. The market reaction could be explained from stock return variance and level of stock liquidity that have significant negative effect on the variable CAR(cumulative abnormal return). On the other hand, the ratio of subscription price to existing stock price, growth opportunities, and business groups have significant positive effect on the magnitude of CAR. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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