Pengaruh peningkatan dan penurunan dividen terhadap abnormal return sebelum dan sesudah ex-dividend date pada saham indeks kompas100 tahun 2014

Soeratno, Harry (2015) Pengaruh peningkatan dan penurunan dividen terhadap abnormal return sebelum dan sesudah ex-dividend date pada saham indeks kompas100 tahun 2014. Bachelor Thesis thesis, Universitas Multimedia Nusantara.

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Abstract

Dividend policy has been a puzzle for corporate finance for many decades. Many studies were conducted to prove the relevance and effects of dividend policy on ex-dividend dates. The purpose of this paper was to investigate the effect of ex-dividend date for cash-dividend policy in the Indonesian stock market in 2014. This study try to demonstrate the existence of abnormal returns by examining stock trading situation before and after ex-dividend dates and whether firms who adopting cash-dividend changes have different abnormal returns on stock price performance. The samples of this study are 58 firms which include 33 firms that adopt cash-dividend increase and 25 firms that adopt cash-dividend decrease. Those firms are listed in KOMPAS100 index on February 2013 – July 2013 and August 2013 –January 2014. Using parametric paired sample t-test for hypothesis testing, this study find that there is no difference in abnormal returns either for firms that increase or decrease their dividends. This implies that dividend didn’t contain information or signal for investor which is identified by changes in stock prices. The result indicates that Investor in Indonesian stock market don’t invest because they will or will not receive dividends. Receiving dividends was seen as a bonus but not the core reason for investing or trading stocks.

Item Type:	Thesis (Bachelor Thesis)
Subjects:	300 Social Sciences > 330 Economics > 332 Financial Economics (Shares, Investment)
Divisions:	Faculty of Business > Management
Depositing User:	Administrator UMN Library
Date Deposited:	04 Jul 2017 08:48
Last Modified:	25 May 2023 00:17
URI:	https://kc.umn.ac.id/id/eprint/529

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