Pengaruh Pengumuman Dividen terhadap Perubahan Harga Saham Perusahaan Industri Barang Konsumsi Sebelum dan Sesudah Ex-Dividen Date di Bursa Efek Indonesia
Daftar Isi:
- This research is aimed to examine the influence of ex-dividend date announcements on stock price changes Consumer Goods Industry in the Indonesian Stock Exchange. By taking 10 samples of stocks. There are two parts of samples, increasing dividend and decreasing dividend. Increasing dividend group consisted of 8 companies and decreasing dividend group consisted of 2 companies. A 19-days of observation, divided into 9-days period before the ex-dividend date, a day when the ex-dividend date, and 9-days period after the ex-dividend date. Analized by using an event study method that will observe the movement of stock prices in the capital market. To examine the existence of price reaction during the event period, the abnormal return test will be conducted during the event period with analysis based on the concept of Capital Assets Pricing Model. The results showed overall of both group, increasing dividend or decreasing dividend affect the company stock price changes in consumer goods industry during 2009-2010. This indicates that, there are significant changes in stock prices during the observation period between the two group of dividend because dividend announcement.