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All Journal Jurnal Samudra Ekonomi dan Bisnis
Gunawan, Dewa Ngakan Putu Hary
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Reaksi Pasar atas Pergantian Nama Perusahaan yang Terdaftar di Bursa Efek Indonesia Tahun 2012–2022 Gunawan, Dewa Ngakan Putu Hary; Wirama, Dewa Gede
Jurnal Samudra Ekonomi dan Bisnis Vol 15 No 1 (2024): JSEB
Publisher : Fakultas Ekonomi Universitas Samudra

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33059/jseb.v15i1.8197

Abstract

The aim of research is to analyze market reactions to changes in names of companies listed on the Indonesia Stock Exchange in 2012-2022. The information content of a company name change is tested based on market reactions as proxied by cumulative abnormal returns. The event study approach is used with a window period of seven days with the event date being the date the company decides to change its name at the RUPS/RUPSLB. Sampling of 90 companies was carried out using the purposive sampling method. The hypothesis is tested with a one sample t-test or one sample Wilcoxon signed rank test. The results show that there was a negative market reaction to the change of name of companies listed on the Indonesia Stock Exchange in 2012-2022 on the first to the third day after the announcement of the company name change. This research provides additional empirical information regarding how the market reacts to a company name change.
Co-Authors DEWA GEDE WIRAMA