REAKSI PASAR TERHADAP PERISTIWA STOCK SPLIT DI MASA PANDEMI COVID-19
| Main Authors: | Aprilia, Agung Istri, Badjra, Ida Bagus, Dana, I Made, Gede Suasana, I Gusti Agung Ketut |
|---|---|
| Format: | Article info application/pdf eJournal |
| Bahasa: | eng |
| Terbitan: |
Fakultas Ekonomi dan Bisnis Universitas Udayana
, 2024
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| Online Access: |
https://ojs.unud.ac.id/index.php/eeb/article/view/98919 https://ojs.unud.ac.id/index.php/eeb/article/view/98919/55000 |
Daftar Isi:
- Stock split ialah satu dari sejumlah aksi korporasi yang menyebabkan perubahan nilai nominal tiap lembar saham serta menambah jumlah lembar saham beredar sejalan dengan adanya split factor. Adapun penelitian ini mempunyai tujuan menguji dan menganalisis apakah terdapat perbedaan abnormal return saham dan trading volume activity antara sebelum serta sesudah perstiwa stock split pada masa pandemi Covid-19 pada perusahaan di Bursa Efek Indonesia. Penelitian ini menggunakan pendekatan kuantitatif dengan metode event study dan periode jendela selama 15 hari. Sampel penelitian berdasarkan teknik purposive sampling yaitu 10 perusahaan dari 12 populasi perusahaan yang melakukan stock split di Bursa Efek Indonesia. Teknik analisis menggunakan teknik uji beda rata-rata yaitu uji paired sample t-test untuk abnormal return, serta uji wilcoxon signed rank test untuk trading volume activity. Temuan penelitian memperlihatkan bahwasanya terdapat perbedaan abnormal return saham serta trading volume activity sebelum serta sesudah peristiwa stock split, nilai rata-rata abnormal return saham dan trading volume activity sebelum stock split lebih tinggi dibandingkan sesudah stock split. Penelitian memberikan implikasi bagi seluruh pihak sebagai bahan masukan dan pertimbangan dalam menentukan keputusan ditengah ketidakpastian kondisi pasar.
- A stock split is a corporate action that results in a change in the nominal value per share and increases the number of outstanding shares in accordance with the split factor. This study aims to test and analyze whether there are differences in abnormal stock returns and trading volume activity between before and after the stock split event during the Covid-19 pandemic for companies on the Indonesia Stock Exchange. This study uses a quantitative approach with the event study method and a window period of 15 days. The research sample was based on a purposive sampling technique, namely 10 companies out of 12 population companies that had stock splits on the Indonesia Stock Exchange. The analysis technique uses the mean difference test technique, namely the paired sample t-test for abnormal returns, and the Wilcoxon signed rank test for trading volume activity. The results showed that there were differences in abnormal stock returns and trading volume activity before and after the stock split. The average value of abnormal stock returns and trading volume activity before the stock split was higher than after the stock split. Research has implications for all parties as input and consideration in making decisions amid uncertain market conditions.