Dian Anggraeni, - (2019) PERBEDAAN LIKUIDITAS SAHAM DAN ABNORMAL RETURN SEBELUM DAN SESUDAH RIGHT ISSUE : Event Study Pada Perusahaan Go Public yang Terdaftar di Bursa Efek Indonesia Tahun 2013 – 2017. S1 thesis, Universitas Pendidikan Indonesia.
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Abstract
Pengumuman right issue merupakan salah satu corporate action yang berupa penerbitan saham baru yang dijual kepada pemegang saham lama melalui penawaran umum terbatas dalam rangka penambahan modal perusahaan. Tujuan penelitian ini adalah untuk mengetahui gambaran likuditas saham dan abnormal return sebelum dan sesudah right issue, dan untuk mengetahui apakah terdapat perbedaan likuiditas saham dan abnormal return sebelum dan sesudah pengumuman right issue. Pengukuran likuiditas saham menggunakan trading volume activity. Pengukuran abnormal return menggunakan market-adjusted model. Periode pengamatan penelitian ini selama 5 hari sebelum dan sesudah pengumuman right issue. Sampel dalam penelitian ini adalah 62 perusahaan go public yang tercatat telah melakukan right issue selama periode tahun 2013-2017. Alat uji hipotesis yang digunakan adalah Paired Sample T-Test jika data berdistribusi normal dan Wilcoxon Signed Rank test jika data tidak berdistribusi normal. Alat analisis yang digunakan meliputi uji statistik deskriptif, uji normalitas dan uji hipotesis. Data Trading Volume Activity dan Abnormal Return tidak terdistribusi dengan normal. Hasil uji Wilcoxon Signed Rank Test menunjukkan bahwa terdapat perbedaan likuiditas saham sebelum dan sesudah pengumuman right issue. Hasil uji Wilcoxon Signed Rank Test menunjukkan bahwa terdapat perbedaan Abnormal Return sebelum dan sesudah pengumuman right issue. Kata kunci: Corporate Action, Right Issue, Likuiditas Saham, Trading Volume Activity, Abnormal Return. The announcement of the rights issue is one of the corporate actions in the form of the issuance of new shares sold to old shareholders through a limited public offering in order to increase the company's capital. The purpose of this study was to determine the description of stock liquidity and abnormal returns before and after the rights issue, and to determine whether there are differences in stock liquidity and abnormal returns before and after the announcement of the rights issue. The measurement of stock liquidity using trading volume activity. Measurement of abnormal returns using the market-adjusted model. The observation period of this study was 5 days before and after the announcement of the rights issue. The sample in this study was 62 companies that went public listed right rights during the 2013-2017 period. Hypothesis testing tools used are Paired Sample T-Test if the data is normally distributed and the Wilcoxon Signed Rank test if the data is not normally distributed. The analytical tools used include descriptive statistical tests, normality tests and hypothesis tests. Trading Volume Activity and Abnormal Return data are not normally distributed. Wilcoxon Signed Rank Test results show that there are differences in stock liquidity before and after the announcement of the rights issue. Wilcoxon Signed Rank Test results show that there are differences in Abnormal Returns before and after the announcement of the rights issue. Keywords: Corporate Action, Right Issue, Stock Liquidity, Trading Volume Activity, Abnormal Return
| Item Type: | Thesis (S1) |
|---|---|
| Uncontrolled Keywords: | Corporate Action, Right Issue, Likuiditas Saham, Trading Volume Activity, Abnormal Return |
| Subjects: | H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management L Education > L Education (General) |
| Divisions: | Fakultas Pendidikan Ekonomi dan Bisnis > Manajemen (non kependidikan) |
| Depositing User: | DIAN ANGGRAENI |
| Date Deposited: | 11 Mar 2020 03:36 |
| Last Modified: | 11 Mar 2020 03:36 |
| URI: | http://repository.upi.edu/id/eprint/39153 |
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