ANALISIS EFEKTIFITAS AKSI KORPORASIPT TELEKOMUNIKASI INDONESIA TBK PERIODE JANUARI-SEPTEMBER 2013

Kisworo, Sri Ponco (2014) ANALISIS EFEKTIFITAS AKSI KORPORASIPT TELEKOMUNIKASI INDONESIA TBK PERIODE JANUARI-SEPTEMBER 2013. S2 thesis, Universitas Pendidikan Indonesia.

Abstract

Salah satu tujuan aksi korporasi adalah untuk memberikan sinyal berupa konten informasi yang dapat mempengaruhi harga saham perusahaan di pasar modal. Tujuan penelitian ini adalah untuk menganalisis efektifitas aksi korporasi PT Telekomunikasi Indonesia, Tbk (Telkom) yang berupa akuisisi, ESOP, dividen dan stock split pada periode Januari-September 2013.
Metodologi penelitian berupa event study dengan mengukur efek sinyal kandungan informasi sebuah peristiwa aksi korporasi terhadap reaksi pasar yang berupa abnormal return. Efektifitas ditunjukan dengan ada atau tidaknya beda abnormal return sebelum dan sesudah peristiwa. Uji efektifitas dilakukan dengan Paired Sample T-Test.
Hasil penelitian ini menyimpulkan bahwa secara signifikan aksi korporasi Telkom yang berupa akuisisi, ESOP, dividen dan stock split periode Januari-September 2013 terbukti tidak efektif mempengaruhi harga saham perusahaan di pasar modal, yang ditunjukkan dengan tidak adanya beda abnormal return sebelum dan sesudah peristiwa. Hal ini menunjukan tidak terdapat asymmetric information pada hubungan antara manajemen Telkom (agent) dengan investor (principal).
One of the goals of the corporate action is to give a signal as information content that can affect share prices in the stock market. The purpose of this study was to analyze the effectiveness of the corporate actions of PT Telekomunikasi Indonesia, Tbk (Telkom) in the case of acquisition, ESOP, dividend and stock split in January-September 2013.
This research is to measure the signaling effect of information content on a corporate action event to the market reaction as abnormal return, with event study methodology. Effectiveness is shown by the presence or absence of different abnormal returns before and after the event. The effectiveness test is performed by paired sample T-Test.
The results of this study concluded that Telkom’s corporate actions (acquisitions, ESOPs, dividends and stock splits) in the period of January-September 2013 were significantly ineffective to influence share prices in the stock market. It’s indicated by the absence of abnormal return’s differences, before and after the events. This shows that there is no asymmetric information on the relationship between Telkom management (agent) and the investor (principal).

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Item Type:	Thesis (S2)
Additional Information:	No. Panggil : T MMB KIS a-2014
Uncontrolled Keywords:	efektifitas, aksi korporasi, akuisisi, ESOP, dividen, stock split, event study, abnormal return
Subjects:	L Education > L Education (General)
Divisions:	Sekolah Pasca Sarjana > Magister Manajemen Bisnis
Depositing User:	DAM STAF Editor
Date Deposited:	02 Feb 2015 05:54
Last Modified:	02 Feb 2015 05:54
URI:	http://repository.upi.edu/id/eprint/12483

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