CD Tesis
Reaksi Pasar Terhadap Pengumuman Dividen Inisiasi Dan Dividen Omisi Pada Perusahaan Di Bursa Efek Indonesia
This study discusses whether there is a significant abnormal return to the
announcement of dividend payout for the first time after two consecutive nonpaying
/ paying dividends (dividend initiation / dividend omission) at companies
listed on the Indonesia Stock Exchange (BEI) with observation period 2012 until
with 2016. The data used are daily stock price, Daily Stock Price Index (IHSG)
and date of Annual General Meeting of Shareholders (AGM) which is secondary
data published. The sampling technique used in this research is purposive
sampling. Method of data analysis using event study approach with market model
to know the existence of market reaction to announcement of dividend of initiation
/ omission. The result of the research proves that there is no significant positive
market reaction to the announcement of dividend initiation shown by the absence
of positive and significant abnormal return around the window of the event period
and there is significant negative market reaction toward the announcement of
omission dividend as indicated by the appearance of significant negative
abnormal return around the event period window.
Keywords: Dividend initiations, dividend omissions, dividend announcement,
abnormal return.
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