Hubungan Stock Split dengan Earnings, Reaksi Pasar dan Abnormal Return pada Perusahaan yang Melakukan Stock Split pada Periode 1998-2008
| Main Authors: | , AYSHABILY INTIFADHA APRISYA, , Fu'ad Rakhman, SE., M.Sc., Ph.D |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2014
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/129552/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=69944 |
Daftar Isi:
- This study aims to examine the relationship between stock split with earnings, market reaction and abnormal return on the company's stock split in the period 1998-2008. Companies that did a stock split, especially split up and had complete data were 71 companies where it become the samples in this study. The method that was used in this study is the event study. During the 9 years study period was divided into three parts, the four years prior to the stock split, the year of the stock split and four years after the stock split. Earnings that were used is earnings per share (EPS), while the tool used to determine the market reaction is the market adjusted return (MAR) and the tool used to determine abnormal return is the annual adjusted return (AR). The first hypothesis testing hasbeen done by using descriptive statistics while the second hypothesis and third hypothesis have been done by using a statistic test to MAR and AR. The first result of this study indicates that the companies were doing a stock split got increasementof earnings before and after doing a stock split. The second result shows MAR associated with an increasement of earningspositively in the years prior to the stock split. While the third result shows an association of AR and earnings changes is lower than the normal conditionin the years prior to the stock split.