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Journal : Multicience

CORPORATE ACTION RESULT (STOCK BUYBACK) TO STOCK PRICE : A STUDY OF BUYBACK AT THE INDONESIA STOCK EXCHANGE IN THE YEAR OF 2014 - 2019 NANANG SURYANA; SURTIKANTI SURTIKANTI
INTERNATIONAL JOURNAL OF MULTI SCIENCE Vol. 1 No. 05 (2020): INTERNATIONAL JOURNAL OF MULTISCIENCE - AUGUST EDITION
Publisher : CV KULTURA DIGITAL MEDIA

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Abstract

This research aims to determine the difference in the capital structure and stock price before and after the corporate action (stock buyback), knowing the effect of corporate action to influence the capital structure (Debt to Equity Ratio) to stock price of listed companies on the Indonesia Stock Exchange that conduct corporate action (stock buybacks). The method used in this study is descriptive and verifiative analysis. The analysis method uses simple linear regression. The population in this study was 40 financial statements from various sectors that carried out stock buybacks and were listed on the Stock Exchange for 4 years (2014-2019). The sampling technique usied purposive sampling method with certain criteria, resulting in a sample of 30 financial statements (2014-2019). The hypothetical test results in this study show that (1) The average stock price and capital structure 20 days before and after stock buyback is different, (2) The capital structure (DER before buyback) has a significant influence on stock price of companies listed on the Indonesia Stock Exchange (IDX) that perform corporate action (stock buybacks), but the capital structure (DER after buyback) does not have a significant effect on the stock price of companies that perform corporate actions (stock buybacks).
Co-Authors Abdur Rahim, Abdur Af`idatul Almas Alam, Adelia Shanty Aqsyalananda, Abia Faradilla Ar Rasyid, Hafizd Arfin Sudirman Ari Ganjar Ardiansyah Arifah, Fatayaturrokhma Ilmala Ariyani , Sinta Azbi, Raihan Muhammad Budi Sulistyo Budiarto, Sulistyo Bugani, Puti Syifa Deniantara, Dhamastana Dharma Desrosa Maulizar Dewanti, Tri Mustika Dinda Ayu Nurindahsari Dwi Dafa Doifullah Dwitifany, Faya Endang Chumaidiyah Faharudin, Nur Syifaa’ Farah Delfa Nurhanifah Farda Hasun Faya Dwitifany Firza Khalisha Rinjany Fransiscus Xaverius Aditya Wisnu Gumilang, Ibnu Fajar Habibullah, Ali Zahid Harlina O, Gladys Dwi Hizbullah, Diva Irsanti , Indira Nabila Firstya Irsanti, Indira Nabila Firstya Jamri, Mohamad Hafifi Joko Supriyanto Khoirul Umam Wiyantirta Latif, Muhammad Hilmi Lilis Puspitawati M. Afiq Fauzan Manan, Firman Marjuki, Ali Maula, Amanandito Shafa Maulana, Elang Fajar Maya Rahmawati Meldi Rendra Mohd Nazril, Alis Muhammad Almaududi Pulungan Muhammad Fikry Ali Nabilah Othman, Nur Azyan Nadya Calista Siahaan Nariswara, Muhammad Farand Hielmy Nursabila Isu, Mutimah Nursabrina Badrulzaman, Sarah Nurzaman, Tedy Popy Gurning Pulungan, M Almaududi Putri Maulani Fauzi Putri, Salsabila Katya Raden Mas Aditya Rangga Pratama Raihan Fachrezi Yunus Raisha Azhari Ghaniyyah Tanra Ramadhani, Ahmad Mulki Rati , Nabila Devana Ratih Herdiyah Reinaldi Dwi Baskoro Rifanisa Azzahra Rwafemir Verzani Harari Shinta Ressmy Cakra Ningrat Sholikah, Laila Ad’hatus Silas, Jonah Sinta Aryan Sinta Aryani Sofie, Kayla Fadiana Sri Dewi Anggadini Suhartoyo, Rivaldo Putra Surtikanti Surtikanti Surtikanti Surtikanti SURTIKANTI SURTIKANTI Syamsi Mawardi Tiara Eming Yudhastri Tjenreng, Muhammad Baharuddin Zubakhrum Tofa Waluyo Alifya Yeremia Shadam Matakena Yusa Djuyandi Yushinta, Olivia Sese Zofan, Hafizhah Putri