PENGARUH PEMECAHAN SAHAM (STOCK SPLIT) TERHADAP TRADINGVOLUME ACTIVITY DAN AVERAGE ABNORMAL RETURNPADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (Studi kasus pada perusahaan yang terdaftar di Bursa Efek I tahun 2011-2014)
Abstract
Abstract:This study took a sample of companies listed on the Stock Exchange during the years 2011 to 2014. Based on the sampling criteria that companies listed on the Stock Exchange the stock split in 2011 and 2014 by the company does not undertake other action.
Data is taken from secondary data, the annual report on the Indonesian Stock Exchange for the period 2011-2014 (IDX Statistic). Data analysis performed in this study using analytical techniques event study aimed to analyze the differences abnormal stock returns and trading volume in the period before and after the announcement of the stock split and the data were processed using SPSS 16.0, the method used is multiple linear regression which comprises of test instruments, test heterocedasticity, T test and F test
Results before the Stock Split on TVA (Y1) and AAR (Y2) can be seen the value T calculated for Stock Split (X), namely (-0244) and (-0198), T table significance level of 0.05 was obtained 1.67943, because T count < T table then Ho is rejected. Sig table B TVA and AAR is (0.800) and (0.028) due to the probability of > 0.05 then accepted, and not significant.
The results after the stock split (X), for TVA (Y1) and AAR (Y2) can be seen the value T calculated for the stock split is (-1 124) and (0488), T table significance level of 0.05 was obtained 1.67943, because T count > T table then Ho is accepted. Sig table B TVA and AAR is (0267) and (0268) due to the probability of < 0.05 then accepted, and significant.
Keywords: TVA, AAR, and Stock Split.
Data is taken from secondary data, the annual report on the Indonesian Stock Exchange for the period 2011-2014 (IDX Statistic). Data analysis performed in this study using analytical techniques event study aimed to analyze the differences abnormal stock returns and trading volume in the period before and after the announcement of the stock split and the data were processed using SPSS 16.0, the method used is multiple linear regression which comprises of test instruments, test heterocedasticity, T test and F test
Results before the Stock Split on TVA (Y1) and AAR (Y2) can be seen the value T calculated for Stock Split (X), namely (-0244) and (-0198), T table significance level of 0.05 was obtained 1.67943, because T count < T table then Ho is rejected. Sig table B TVA and AAR is (0.800) and (0.028) due to the probability of > 0.05 then accepted, and not significant.
The results after the stock split (X), for TVA (Y1) and AAR (Y2) can be seen the value T calculated for the stock split is (-1 124) and (0488), T table significance level of 0.05 was obtained 1.67943, because T count > T table then Ho is accepted. Sig table B TVA and AAR is (0267) and (0268) due to the probability of < 0.05 then accepted, and significant.
Keywords: TVA, AAR, and Stock Split.
Full Text:
PDFRefbacks
- There are currently no refbacks.