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REAKSI PASAR TERHADAP PENGUMUMAN EMPLOYEE STOCK OWNERSHIP PROGRAM
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.
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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| Properti | Nilai Properti |
|---|---|
| ID Publisher | JIPTUNMERPP |
| Organisasi | D |
| Nama Kontak | Dra. Wiwik Supriyanti, SS |
| Alamat | Jl. Terusan Halimun 11 B |
| Kota | Malang |
| Daerah | Jawa Timur |
| Negara | Indonesia |
| Telepon | 0341-563504 |
| Fax | 0341-563504 |
| E-mail Administrator | perpus@unmer.ac.id |
| E-mail CKO | wsupriyanti@yahoo.com |
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- Editor: Wiwik Supriyanti, Dra. SS.