Path: Top Journal Jurnal_Keuangan_dan_Perbankan 2012

REAKSI PASAR TERHADAP PENGUMUMAN EMPLOYEE STOCK OWNERSHIP PROGRAM

Jurnal Keuangan dan Perbankan, Volume 16, Nomor 1, Januari 2012
Journal from JIPTUNMERPP / 2012-08-31 09:57:00
Oleh : Christian Herdinata, Diploma 3 of Finance and Banking Merdeka University Malang (jurkeubank@yahoo.com)
Dibuat : 2012-01-01, dengan file

Keyword : ESOP (Employee Stock Ownership Program), marker reaction, signaling hypothesis, event study.

In Indonesia, the increasing of Employee Stock Ownership Program (ESOP) was relative known new, so it
needed any evidence for the market reaction in Indonesia stock exchange. From the latest problem, the purpose
of this research was to know how the market reaction for the announcement of ESOP in Indonesia Stock
Exchange. Samples on this research were the companies which were listed in BEI that had announced ESOP for
period January 1st
, 2000 – December 31st
, 2010. Analysis technique on hypotesis test related with market
reaction for ESOP announcement was done by event study to calculate abnormal return. Research result
showed that market tended to ignore ESOP announcement. And it meant that ESOP announcement was not
considered as a signaling, which gave a good information for the investor in Indonesia to achieve profit.

Deskripsi Alternatif :

In Indonesia, the increasing of Employee Stock Ownership Program (ESOP) was relative known new, so it
needed any evidence for the market reaction in Indonesia stock exchange. From the latest problem, the purpose
of this research was to know how the market reaction for the announcement of ESOP in Indonesia Stock
Exchange. Samples on this research were the companies which were listed in BEI that had announced ESOP for
period January 1st
, 2000 – December 31st
, 2010. Analysis technique on hypotesis test related with market
reaction for ESOP announcement was done by event study to calculate abnormal return. Research result
showed that market tended to ignore ESOP announcement. And it meant that ESOP announcement was not
considered as a signaling, which gave a good information for the investor in Indonesia to achieve profit.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiD
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.