Share Market Response to the Announcement of Dividend Payment Plan in the Food and Beverage Sector Registered in Indonesia Stock Exchange
DOI:
https://doi.org/10.22219/jamanika.v1i2.16988Keywords:
stock market, dividen responseAbstract
The purpose of this study is to determine investors' reactions to the announcement of the 2017-2019 dividend payment plan in the food and beverage sector listed on the Indonesia Stock Exchange. This type of survey is an empirical survey using the event survey method which aims to investigate the market reaction to events whose information is published as announcements. The data used in this study is secondary data, namely data taken from other data sources, not collected by the researcher himself. Data obtained from the Indonesia Stock Exchange Corner. The data analysis method is to calculate the actual daily stock return for each stock during the event and use the expected model to estimate the expected return. When we tested the comparison of the average rate of return (AAR) of stocks during the pre-announcement period, the average rate of return was -0.065813, but seven days after the announcement, the average rate of return was -0.000720. We tested the difference between 15 days before the announcement and 15 days after the announcement and found that the t-value was 2.996 and the significance was 0.001.
Downloads
References
Alwi, Z, Iskandar. (2010). Capital Markets and Applications. Jakarta: Pancar Siwah Foundation
Anindhita, Galih. (2010). Analisis Reaksi Pasar Atas pengumuman Dividen Sebelum dan Sesudah Ex-Dividend Date (Studi Kasus Pada Kelompok Cash Dividend Final Naik dan Turun Pada Perusahaan Yang Terdaftar di BEJ Tahun 2004-2006). Diponegoro University
Arikunto, Suharsimi. (2016). Research Procedure: A Practice Approach. Jakarta: Rineka Cipta.
Brigham, Eugene F and Joel F Houtson. (2011). Fundamentals of Financial Management. Translator Yulianto. AA Eleventh Edition. Indonesian Edition. Book II. Jakarta: Four Salemba
Darmadji, Tjiptono, and Fakhruddin. (2012). Capital Markets in Indonesia. Third Edition. Jakarta: Salemba Empat
Halim, A. and Sarwoko. (2013). Financial Management. Yogyakarta: BPFE UGM
Jogiyanto (2014). Teori Portofolio dan Analisis Investasi (10th Edition). Yogyakarta: BPFE
Pramana, Ketut Satya. (2017). Market Reaction to Dividend Announcement on the Indonesia Stock Exchange, E-Journal of Management of Udayana University, Vol. 6, No. 11
Sa’diyah, C. (2019). Analysis Of Cash Flows SME’S Rajut in Kendalsari. International Journal of Economics, Business and Accounting Research (IJEBAR), 3(2), 59–64.
Sa’diyah, C. (2021). Analysis Of Factors Affecting Adoption of Financial Technology Application. Sentralisasi, 10(1), 57–70.
Sa’diyah, C., & Widagdo, B. (2020). Indonesia’s Capital Market Reaction Election Events. Sentralisasi, 9(2), 97–107.
Satiti, Novita Ratna., Sa’diyah, C. (2020). Indonesian Management and Accounting Research The Effect of Financial Literacy on Malang District Society’s Financial Behavior. Indonesian Management and Accounting Research, 19(02).
Siaputra, Lani. (2016). Pengaruh Pengumuman Dividen Terhadap perubahanHarga Saham Sebelum dan Sesudah Ex-Dividend Date di Bursa Efek Jakarta (BEJ) Department of Accounting Economics, Faculty of Economics - Petra Christian University
Riduwan. (2010). Dasar Statistika. Bandung: CV. Alfabeta
Singarimbun, Masri and Sofian Effendi. (2016). Metode Penelitian Survey. Jakarta: LP3ES.
Sugiyono (2017). Metode Penelitian Kualitatif dan Kuantitatif . Bandung: CV. Alfabeta
Sugiyono. 2010. Statisika untuk Penelitian. Bandung: Publishers CV. Alfabeta
