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标题：EFFECT OF CHANGES IN CASH DIVIDEND ANNOUNCEMENT ON STOCK PRICE (SRV) BEFORE AND AFTER THE ex-dividend date INDONESIA STOCK EXCHANGE (IDX)
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作者：Wendra Wijaya
期刊名称：Faculty of Psychology
出版年度：2010
卷号：0
期号：0
语种：English
出版社：Faculty of Psychology
摘要：Keywords: Ex-dividend date, stock prices, security return variabilityABSTRACTThis research’s aimed to determine whether there is the effect of dividend announcements onstock prices (SRV) companies in the financial sector before and after ex-dividend date inIndonesia Stock Exchange in 2009 and describes how the behavior of investors in response tothat information at the Indonesian Stock Exchange (IDX ).Researchers the sample into two groups: group dividend rises and falls. It’s increasing dividendgroup consisting of nine listed companies and on dividends down the group consisting of 11issuers. The study period consisted of 21 days consisting of 10 days before the ex-dividend date,a day when the ex-dividend date and 10 days after the ex-dividend date. The analytical methodused is the Security Return Variability (SRV), while the statistics and hypothesis testing using atest of one sample T-test.This research’s concludes that announcements of dividend increases is not a positive influenceon stock prices (SRV) in the before and after the ex-dividend date in Indonesia Stock Exchange(BEI). It is characterized by an average of security return variability is significant positive on dayt-5. While the announcement of dividend reduction has positive influence on stock prices (SRV)before and after the ex-dividend date in Indonesia Stock Exchange (BEI). It is characterized byan average of security return variability is a significant negative on day t-3.