<![CDATA[Tujuan dilakukan penelitian ini adalah untuk menguji reaksi pasar yang diukur dengan variabel abnormal return dan trading volume activity (TVA) di sekitar pengumuman dividen (dividend announcement). Populasi dalam penelitian ini adalah semua pengumuman dividen dari perusahaan yang sahamnya masuk pada daftar efek syariah (DES) Indonesia pada tahun 2013, yang berjumlah 40. Sampel penelitian diambil dari semua jumlah populasi. Analisis data dilakukan dengan uji One Sample t-test untuk menguji reaksi pasar yang terjadi selama periode pengamatan (event window) 21 hari yaitu t-10 (10 hari sebelum pengumuman dividen), t0 (saat pengumuman dividen), dan t+10 (10 hari sesudah pengumuman dividen). Hasil penelitian menunjukkan terdapat reaksi pasar di sekitar hari pengumuman dividen yang diukur menggunakan variabel abnormal return dan trading volume activity (TVA). The purpose of this study was to test the market reaction which was measured by abnormal return variable and trading volume activity (TVA) around the dividend announcement. The population of this study was all companiesâs dividendannouncement which their shares were listed on Indonesia Syariah Securities List published in 2013, they were 40 companies. The samples were taken from all population. The data were analyzed by one sample t-test to test the market reactions which occurred during event window for 21 days; they were t-10 (10 days before the dividend announcement), t0 (at the dividend announcement time), and t+10 (10 days after the dividend announcement). Based on the research results, it can be seen that there was a market reaction around the dividend announcement which was measured by abnormal returns variable and trading volume activity (TVA).]]>
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