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All Journal JDEP (Jurnal Dinamika Ekonomi Pembangunan)
Fauzi, Achmad Azis
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Economics, Econometrics & Finance

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Dampak Stock Split terhadap Abnormal Return pada Emiten Terdaftar di Bursa Efek Indonesia Fauzi, Achmad Azis; Mutasowifin, Ali
JDEP (Jurnal Dinamika Ekonomi Pembangunan) Vol. 4 No. 2 (2021): JDEP (Jurnal Dinamika Ekonomi Pembangunan)
Publisher : UPN "Veteran" Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jdep.v4i2.302

Abstract

This study analyzes the effect of stock split on abnormal returns of companies listed on theIndonesia Stock Exchange in 2015-2019. Using a purposive sampling method (nonprobabilitysampling) we obtained 34 companies as a research sample. We use the event study approach for data processing in finding abnormal returns and t-test as well. This study classifies samples into two categories, complex sample category, and sectoral industries. The result shows that for the complex category, there are three out of eleven days of events that have an impact on abnormal returns marked by the t-test results greater than t-table. Whereas in each sectoral industries there are only five affected sectors, three unaffected sectors and one sector cannot be tested due to insufficient data. This result is also consistent with theories related to the stock split, signaling theory, and trading range theory.
Co-Authors Ali Mutasowifin