Analisis Empiris Reaksi Pasar terhadap Pengumuman Right Issue dan Tingkat Likuiditas Saham: Pengujian The Negative Information Effect Hypothesis”

Kurniawati, Indah and Winarso, Beni Suhendra (2005) Analisis Empiris Reaksi Pasar terhadap Pengumuman Right Issue dan Tingkat Likuiditas Saham: Pengujian The Negative Information Effect Hypothesis”. Kompak, Jurnal Akuntansi, Manajemen dan Sistem Informasi. pp. 206-217. ISSN 0854-6142

This is the latest version of this item.

[thumbnail of 2005 Kompak Analisis Empiris Reaksi Pasar.pdf] Text
2005 Kompak Analisis Empiris Reaksi Pasar.pdf
Download (4MB)

Abstract

The objectives of this study is to investigate the effect of the negative information-right –issue on maket reaction in the Jakarta Stock Exchange. Since the trade condition in Jakarta Stock Exchange is still a non-synchronous trading (thin market), therefore, this study employs a research method which is appropriate for suck market.
The sample consist of 34 companies which announce right issue from 1992-1997. The market reaction is measured using the Single index Model and beta bias is corrected using Fowler and Rorke Method (1983) with four lags and four leads. Comparison of stock liquidity before and after the right issue made use of paired sample test.
The result show that right issue announcements are responded positively but not statistically significant around the date of right issue announcement. The difference between stock liquidity before and after the right issue is insignificant.

Keyword: right issue, market reaction, negative information, stock liquidity

Item Type: Artikel Umum
Subjects: H Social Sciences > HG Finance
Divisi / Prodi: Faculty of Economics (Fakultas Ekonomi) > S1-Accounting (S1 Akuntansi)
Depositing User: S.E., M.Si Beni Suhendra Winarso
Date Deposited: 24 Jan 2022 01:42
Last Modified: 24 Jan 2022 01:42
URI: http://eprints.uad.ac.id/id/eprint/31888

Available Versions of this Item

Actions (login required)

View Item View Item