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All Journal JBMR: Journal of Business and Management Review
Bella Firda Indriani
Master in Management, Faculty Economic and Business, Universitas Gadjah Mada, Yogyakarta, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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The Market Reaction to Stock Split Announcement Bella Firda Indriani
Journal of Business and Management Review Vol. 3 No. 12 (2022): (Issue-December)
Publisher : Profesional Muda Cendekia Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47153/jbmr312.5572022

Abstract

This study aims to examine the market reaction to the stock split announcement. The market reaction in this research will be proxied with abnormalities that occur around the day of the stock split announcement. This study also examines the relationship between firm size and abnormal returns around the day of the stock split announcement. The population in this study are companies listed on Indonesia Stock Exchange that announced a stock split from 2012-2019. By using purposive sampling, the total sample used in this study was 72 companies. This study's results indicate an abnormal return around the day of the stock split announcement. This study also shows a negative but insignificant relationship between firm size and abnormal returns around the day of the stock split announcement.
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