ANALISIS PERBANDINGAN ABNORMAL RETURN,TRADING VOLUME ACTIVITY, DAN BID-ASK SPREAD SEBELUM DAN SESUDAH STOCK SPLIT
| Main Authors: | SETYANINGSIH, DEWI, ASANDIMITRA HARYONO, NADIA |
|---|---|
| Format: | eJournal |
| Bahasa: | ind |
| Terbitan: |
Jurnal Ilmu Manajemen (JIM)
, 2014
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| Online Access: |
http://ejournal.unesa.ac.id/index.php/jim/article/view/10178 |
Daftar Isi:
- Abstract:Stock splits or stock split is to break a piece of stock into n shares so that the new price per share after the stock split is 1 / n of the previous price.This study aims to investigate the market reaction to the announcement of the stock split the company listed in Indonesia Stock Exchange Period 2012-2013.The market reaction is indicated by the presence or absence of abnormal return differences, trading volume activity, and bid-ask spreads before and after the stock split announcement.Type of research is a study of events (event study).The study sample as many as 17 companies based on purposive sampling.Testing is done with a period of 5 days before and 5 after the announcement of the stock split.The technique of data analysis performed using paired sample t-test on abnormal returns while Wilcoxon signed ranks test on trading volume activity and bid-ask spreads. Keywords:stock split, abnormal return, trading volume activity, dan bid-ask spread