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Journal : Management Analysis Journal

REAKSI PASAR TERHADAP PENGUMUMAN PENERBITAN SUKUK MUDHARABAH DAN OBLIGASI KONVENSIONAL Purwaningsih, Purwaningsih; Khoiruddin, Moh.
Management Analysis Journal Vol 5 No 4 (2016): Managemant Analysis Journal
Publisher : Management Analysis Journal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i4.10915

Abstract

This research aims to analyse market reaction toward sukuk mudharabah and conventional bonds issue announcement that indicated with abnormal return and trading volume activity. Population in this research is all of sukuk mudharabah and conventional bonds issue announcement registered in IDX period 2012-2015. This research used event study with 21 days of windows period (t-10 to t+10). Samples of this research consist of 5 sukuk mudharabah issue announcements and 65 conventional bonds issue announcements based on purposive sampling method. Analysis methods used in this research are t-test and Paired Samples T-Test. The results of this research show that there are significant abnormal return around the date of sukuk mudharabah issue announcement on t-10, t-8, t-6, and wheres significant abnormal return around the date of conventional bonds issue announcement on t-7, t-3, t-1, t-3, t-4, t-7. In addition, there is no significant difference between trading volume activity before and after to sukuk mudharabah and conventional bonds issue announcement. The market react slow and prolonged so there is not happened  market efficiency semi-strong form in information and decision.  
Reaksi Pasar terhadap Pengumuman Penerbitan Sukuk Mudharabah dan Obligasi Konvensional Purwaningsih, Purwaningsih; Khoiruddin, Moh.
Management Analysis Journal Vol 5 No 4 (2016): Management Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/maj.v5i4.10915

Abstract

This research aims to analyse market reaction toward sukuk mudharabah and conventional bonds issue announcement that indicated with abnormal return and trading volume activity. Population in this research is all of sukuk mudharabah and conventional bonds issue announcement registered in IDX period 2012-2015. This research used event study with 21 days of windows period (t-10 to t+10). Samples of this research consist of 5 sukuk mudharabah issue announcements and 65 conventional bonds issue announcements based on purposive sampling method. Analysis methods used in this research are t-test and Paired Samples T-Test. The results of this research show that there are significant abnormal return around the date of sukuk mudharabah issue announcement on t-10, t-8, t-6, and wheres significant abnormal return around the date of conventional bonds issue announcement on t-7, t-3, t-1, t-3, t-4, t-7. In addition, there is no significant difference between trading volume activity before and after to sukuk mudharabah and conventional bonds issue announcement. The market react slow and prolonged so there is not happened market efficiency semi-strong form in information and decision.
Co-Authors A.A. Ketut Agung Cahyawan W Abdul Rahman Ollong Abi Fadila Abu Bakar Agus Sulistyono Ah. Yusuf Alfariski, Irgi Alit Armini, Ni Ketut Alnita Baaka Ambarwanti, Cahreta Andri Setiya Wahyudi Angelina N. Tethool Anita Nurmasitoh Anjas Anjas, Anjas Arizona, Rizki Artono, Agus Ashari, Asri Mulya Asih, Nuri Luthfi Asnawati Asnawati Asri Darmawati Asri Darmawati Astuti Darmiyanti Aswin, Rosmayanti Athanasia Octaviani Puspita Dewi, Athanasia Octaviani Puspita Atikah, Tika D. bagaskoro, isnaini jaya Bahiyah, Khoridatul Bambang Sri Anggoro Banjarnahor, Hotma Ria Candra Panji Asmoro, Candra Panji Capriati, Rossy Chamidah, Isni Nurul Chamidah, Isni Nurul Cholicul H Claude Mona Airin Cloudia, Hikma Bungsu Daniel Y. Seseray Dewi Liesnoor Setyowati Djoko Agus Purwanto Dwi Budi Santoso Dwi Dina Romantika Dwi Nurhayati, Dwi Dwi Nurhidayati, Dwi Dwi Zulfita Ecin Kuraesin Edy Santoso Eka Mishbahatul Mar'ah Has Elida Ulfiana Erita Gustina Erlis Nur Mujiningsih, Erlis Nur Erwin Ayubi, Tika Esti Yunitasari Evamona Sinuraya Evi W. Saragih Fathurrahmah, Nuzul Isnaini Fauzul, Fauzul Ferry Effendi Firdayani Sianturi Firmana, Firmina Murniati Gading Ekapuja Aurizki Gunawan, Elfedius Andre Hakim Zulkarnain Hakim, Aji Qamara Dewi Harianja, Greace Heni Murti Wahyuni Hotlan Manik Ika Yuni Widyawati Ilya Krisnana, Ilya Indarwati , Retno Inriani, Noveling Intan Munawaroh Iriani Sumpe Jadimanto, Jadimanto Jailani Jailani John Arnold Palulungan Juwita, Putri Karingga, Devangga Darma Khairani, Ade Irma Kharisma, Nazza Khikmatul Mu’jizah Khusna, Nia Annisyatul Kipa Jundapri Kurniawati, Ninuk Dian Kuswata Kartawinata Lailatun Ni’mah Lekitoo, Marlyn N Lestari, Nila Lilik Manowati Made Indra Ayu Astarini, Made Indra Ayu Makhfudli Makhfudli Marbun, Mega Sari Mardiani, Inna Nisawati Margaretha Kewa Lamak Martha Kayadoe Masitah Masitah Masrifah, Masrifah Maulina, Nadira Meliany, Veronika Mimi Rosadi Miranda, Miranda Misutarno, Misutarno Moh. Khoiruddin Mohamad Jen Wajo Mohammad Nur Firdaus Muh D. RAM Muh. Abdurrouf Mulyadi Mulyadi Nabilah, Arinda Putri Nalika Nazua Ridwan Nasrija, Hendra Nasronudin Nasronudin Nasution, Ruqoyyah Nihayati, Hanik Endang Niken Ariska Prawesti Niken Subekti Nisrina Nisrina Noviyanti Noviyanti, Noviyanti Nur Hidayat Nurjani Nurmairina Nursalam . Nursalam, Nursalam Nuzul Qur'aniati O R Faidiban, O R Pamela, Tia Paratami, Ando Peni Indrayudha Pramesti, Mardiani Rahayu Pratiwi, Anugrah Putri Prawesti, Niken Ariska Priyo Sambodo Puspitasari, Nindy Putri, Pinandhita Putri, Pinandhita Qolbi Nur Qoidah Yahya Qur’aniati, Nuzul Rahma Illahi, Cinta Sasmita Rapeah, Rapeah Ratia, Ratia Ratna Dewi Mulyaningtiyas Rini Susana Riski Hardani Riyadi, Muhammad Hamdan Rofida, Astuti Rosyida, Rohima Tazkiyah Ruddy Polosakan, Ruddy Sadiyah, Halimah Salsabila, Irma Saragih , Evi W. Sari, Firdaus Indah Septanto, Aby Nugrah Septin Srimentari Lely Darma Septiyaningsih, Tri Septiyaningsih, Tri Setia Budi Setyo Gunawan, Setyo Shelda, Priscila Shelda Sientje D. Rumetor Simamora, Endang Roswati Siti Nur Imamah Sodiqin, Sodiqin Sri Murlianti Sriani, Henni Suarilah, Ira Sudarsono Sulistiawati Sulistiawati Sunaryo Sunaryo Surbakti, Claudia Surbakti, Rori Sandri Dewi Br Susamto, Dina Amalia Susanti Susanti Susilastri, Dian Syahrum Agung Syaifuddin Kurnianto syarief ferry alkadrie Tabilangi, Charles Tantri Palupi Trias Isrichawati Triharini, Mira Trini Susmiati Tukatman Tukatman Utami, Novi Tri Utomo, Jepri Vourvachi, Christina Wahyuni Tri Lestari Warganda Warganda Widarizki, Restik Bunga Widayati , Trisiwi W. Widayati, Isti Widiharti Widiharti Wulandari, Annisa Yuana yuana, Yuana Yuli Anggraini Yulis Setiya Dewi Yunitasari, Eva Yusuf, Razali Yusuf, Razali Yusuf, Razali YUSUF, RAZALI Zahroh, Nabila Shofiatuz