文章基本信息

标题：DIVIDEND ANNOUNCEMENT EFFECT ON CORPORATE FINANCIAL SECTOR SHARE PRICE WHEN EX-DIVIDEND RATE IN INDONESIA STOCK EXCHANGE (IDX) IN 2008
本地全文：下载
作者：Mohamad Reza Pahlevi ; Dr. Bagus Nurcahyo
期刊名称：Faculty of Economics
出版年度：2009
卷号：0
期号：0
语种：English
出版社：Faculty of Economics
摘要：Keyword: Keywords : ex-dividend rate, CAPM, stock return.Abstrack:ABSTRACT:This undergraduate thesis aims to determine whether there is any effect of dividend announcements on stock prices of financial sector companies at the ex-dividend date on the Indonesian Stock Exchange in 2008. The author divides the sample into two groups: group dividend increase and dividend decrease. The group consisted of increasing dividend of 11 issuers of financial sector and the dividend decrease group consisting of 3 emitter financial sectors. While the study period of 21 days consisting of 10 days before the event date, a day when the event date and 10 days after the event date. The method used in this study is event study by observing the movement of shares in the capital market. Then to test whether there is any price reaction is carried out tests of abnormal return during the event period with the Capital Asset Pricing Model (CAPM) and by testing the abnormal return to dividend increase and dividend decrease at the ex-dividend date. Based on the results, it is known that in groups of increasing dividend or dividends down the group, changes in stock prices of financial sector companies in 2008 related to the posting of dividends, except dividends at t 3 groups decreased. On the results of statistical tests, the whole group dividend stock price may be affected by the dividend announcement. This suggests that investors not only pay attention to things that are quantitative or numeric but also notice things that are qualitative, such as dividend announcements.