<![CDATA[Abstract: The purpose of this study is to examine the changes of the stock pricesand stock volume traded on the Indonesia Stock Exchange (IDX) on the last daywhere the shareholders would still posses the right to dividends (cum-dividenddate). The population of this study was all public companies listed in the IDX in2013 that distributed their dividends continuously from 2014 to 2016. The sampleconsisted of 118 companies collected by using purposive sampling approach. Theresults showed that there was a difference of abnormal return and trading volumeactivity on the days around the cum-dividend date.Keywords: dividen, cum-dividend date, abnormal return, trading volume activity,event study.Abstrak: Tujuan penelitian ini adalah untuk menganalisis perubahan harga sahamdan volume saham yang diperdagangkan di Bursa Efek Indonesia (BEI) pada hariterakhir dimana pemegang saham masih akan berhak atas dividen (cum-dividenddate). Populasi penelitian ini adalah seluruh perusahaan go public pada tahun2013 yang terdaftar di BEI yang membagikan dividen secara terus menerus padatahun 2014 sampai 2016. Sampel penelitian terdiri dari 118 perusahaan yangdiambil dengan pendekatan purposive sampling. Hasil penelitian menunjukkanbahwa terdapat perbedaan abnormal return dan trading volume activity pada harihari sekitar cum-dividend date.Kata kunci: dividen, cum-dividend date, abnormal return, trading volume activity,event study.]]>
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