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Sinyal Profitabilitas dan Reaksi Pasar Modal Terkait Peningkatan Dividen Saat Laba Meningkat

Jurnal Keuangan dan Perbankan: Volume 18, Nomor 3, September 2014
Journal from JIPTUNMERPP / 2017-07-27 10:08:51
Oleh : Tarsisius Renald Suganda ; El Hezekiah Sabbat, Diploma 3 of Banking and Finance Merdeka University Malang
Dibuat : 2014-09-01, dengan 0 file

Keyword : Abnormal return, dividend, event study, ROE, signaling theory, trading volume activity

Dividend policy was a topic that still caused the pros and cons. Based on signaling theory, the announcement of dividend would be reacted by the market. The purpose of this study were to investigate the effect of the company’s profitability as a result of dividend announcement, to examine the market reaction (using abnormal return and trading volume activity as the indicators) toward the announcement of dividend increase when the earning or profit was increasing. Event study method was used to answer the research question. The result showed that there was a significant REO decreasing in a year after the announcement. The market reaction showed that there was a negative abnormal return during the period of the announcement of dividend increase when the earning or profit was increasing. The study also showed that the average tranding volume was insignificantly increasing after the announcement. This study showed that the announcement indicated a bad signal for the Indonesian market. However, the findings of the research gave some suggestions for the same researches in Indonesia capital market.

Deskripsi Alternatif :

Dividend policy was a topic that still caused the pros and cons. Based on signaling theory, the announcement of dividend would be reacted by the market. The purpose of this study were to investigate the effect of the company’s profitability as a result of dividend announcement, to examine the market reaction (using abnormal return and trading volume activity as the indicators) toward the announcement of dividend increase when the earning or profit was increasing. Event study method was used to answer the research question. The result showed that there was a significant REO decreasing in a year after the announcement. The market reaction showed that there was a negative abnormal return during the period of the announcement of dividend increase when the earning or profit was increasing. The study also showed that the average tranding volume was insignificantly increasing after the announcement. This study showed that the announcement indicated a bad signal for the Indonesian market. However, the findings of the research gave some suggestions for the same researches in Indonesia capital market.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiDiploma 3 of Banking and Finance Merdeka University Malang
Nama KontakDra. Wiwik Supriyanti, SS
AlamatJl. Terusan Halimun 11 B
KotaMalang
DaerahJawa Timur
NegaraIndonesia
Telepon0341-563504
Fax0341-563504
E-mail Administratorperpus@unmer.ac.id
E-mail CKOwsupriyanti@yahoo.com

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  • Editor: Wiwik Supriyanti, Dra. SS.