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All Journal E-Jurnal Akuntansi Universitas Udayana
Putu Gede Aditama Putra
Fakultas Ekonomi dan Bisnis Universitas Udayana
Economics, Econometrics & Finance

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Reaksi Pasar Atas Pengumuman Stock split Putu Gede Aditama Putra; I Gusti Ngurah Agung Suaryana
E-Jurnal Akuntansi Vol 27 No 2 (2019)
Publisher : Accounting Department, Economic and Business Faculty of Universitas Udayana in collaboration with the Association of Accounting Department of Indonesia, Bali Region

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2019.v27.i02.p23

Abstract

Every corporate action carried out by a company has the potential for information content as signal. The purpose of this study is to reexamine the market reaction to the announcement of the stock split proxied by using abnormal return. Testing information content will be done by looking at the cumulative abnormal return significance. The method of determining the sample is by nonprobability purposive sampling technique. The data analysis technique used was the One Sample t-test. The results of this study indicate there is a market reaction to the announcement of the stock split. This is indicated by the existence of abnormal returns around the announcement of the stock split. The results of this study theoretically can provide empirical evidence that strengthens the signaling theory that the information published by the issuer is reacted by the market, which shows that any accounting information that enters the capital market has information content. Keywords: Stock split, abnormal return.
Co-Authors I Gusti Ngurah Agung Suaryana