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Journal : prestasi

REAKSI PASAR SEBAGAI DAMPAK PUBLIKASI DIVIDEN (STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA SELAMA TAHUN 2004 - 2006) Amah, Nik; Nuraina, Elva
PRESTASI Vol 10, No 2 (2012): Desember Prestasi
Publisher : PRESTASI

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Abstract

This study aims to examine the effect of dividend announcement to the market reaction. Market reaction can be seen from the changes in stock returns and trading volume activity during the windows period. The sample in this study is a manufacturing company declared a cash dividend and shares actively traded on the Indonesia Stock Exchange in 2004-2006. The selection of the sample using purposive sampling method, and obtained a sample of 13 companies. The method of data analysis using paired samples t-test. Based on the data analysis, it can be concluded that there is no difference in stock returns during the period five days prior and five days after the dividend announcement. It means the dividend announcement have no effect on stock returns. This is indicated by a significance value of 0.552. Test results on trading volume activity indicates that there is no difference in the trading volume activity during the period five days prior and five days after the dividend announcement. It means that dividend announcement have no effect on trading volume activity. This is demonstrated by the significant value of 0.563.Keywords: Stock Returns, Trading Volume Activity, Dividend Announcement, Paired Sample t-Test.
Co-Authors Abd Rohman Taufiq Abd. Rohman Taufik Adhelia Oktavian Putri Diyanto Aena Mardiyah Agus Sudrajat Ahmad Aziz Ahmad Nur Aziz Ajeng Marga Kusuma Almarida Wilujeng Angga Dwi Nugroho, Angga Dwi Anggita Langgeng Wijaya Anggita Langgeng Wijaya Anggita Putri Pramudyawati Anggita Putri Pramudyawati Anisa Rahmadita Syaifia Anissa Ayera Anita Tri Widiyawati Annisatul Khoiru Maghfiroh Ardi Gunardi Arik Setiawan Wibowo Aviyanti, Richo Diana Candra Febrilyantri Chindy Dwi Jayanti Citra Anggraini Desy Nur Pratiwi Devi, Heidy Paramitha Dimas Aji Pambudi Dwi Indah Setiowati Dwi Nila Andriani Dwi Nila Andriani Efa Dwi Prasetyowati Eka Adiputra, Eka Elisa Fandika Dewi Elly’s Mersina Mursidik Elva Nuraina Enno Aldea Amanda Erlin Rahayu Eva Rafika Dewi Farida Styaningrum Farida Styaningrum Farida Styaningrum Febrilyantri, Candra Frisca Arvinda Prihandani HENDRA SETIAWAN Hestin Mawarni Hestin Mawarni, Hestin Ida Tri Wahyungingsih Isharijadi Isharijadi Isharijadi Isharijadi Juli Marwani Juli Murwani Juli Muwarni Kuntardina, Ari Lita Dwi Damayanti M. Agus Sudrajat Mahesti Cahayuni Marshanda Yovianita Sukma Hernandi Mawar Puspitasari Maya Novitasari Maya Novitasari Moh. Ubaidillah Muhamad Agus Sudrajat Nadila Ayu Puspitasari Nanik Ermawati Niken Setiyo Wati Novi Dwi Lestari Novita Erliana Sari Nur Wahyuning Sulistyowati Permatasani, Arsinta Ayu Pramesti Wahyu Widiastuti Pramesti Widiastuti Purweni Widhianningrum Purweni Widhianningrum Purweni Widhianningrum Refiana Yuliawati Resta Puji Astuti Risma Choirunisa Rizal, Fitra Rizky Arum Rosyid Arfan Gustama Satrijo Budi Wibowo Satrijo Budiwibowo Satrijo Budiwibowo Satrijo Budiwibowo Septi Hendriana Siami Sinta Romadhini Silvia Risky Sulistyowati, Nur Wahyuning Supri Wahyudi Utomo, Supri Suswan Ningsih Waghfirotul Afkar Widhianningrum, Purweni Yahya Reka Wirawan Zainul Khoirunnisa Zyndia P. R