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All Journal JDM (Jurnal Dinamika Manajemen) Jurnal Dinamika Akuntansi PRESTASI Jurnal Pendidikan JABE (Journal of Accounting and Business Education) Jurnal Terapan Abdimas AKRUAL: Jurnal Akuntansi SENTRALISASI Jurnal Pendidikan Akuntansi dan Keuangan Altruis: Journal of Community Services
Elva Nuraina
Program Studi Akuntansi, Fakultas Ekonomi, IKIP PGRI, Madiun, Indonesia Jalan Setia Budi 85 Madiun, Jawa Timur 63118
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Public Health Other

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Journal : PRESTASI

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REAKSI PASAR SEBAGAI DAMPAK PUBLIKASI DIVIDEN (STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA SELAMA TAHUN 2004 - 2006) Amah, Nik; Nuraina, Elva
PRESTASI Vol 10, No 2 (2012): Desember Prestasi
Publisher : PRESTASI

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Abstract

This study aims to examine the effect of dividend announcement to the market reaction. Market reaction can be seen from the changes in stock returns and trading volume activity during the windows period. The sample in this study is a manufacturing company declared a cash dividend and shares actively traded on the Indonesia Stock Exchange in 2004-2006. The selection of the sample using purposive sampling method, and obtained a sample of 13 companies. The method of data analysis using paired samples t-test. Based on the data analysis, it can be concluded that there is no difference in stock returns during the period five days prior and five days after the dividend announcement. It means the dividend announcement have no effect on stock returns. This is indicated by a significance value of 0.552. Test results on trading volume activity indicates that there is no difference in the trading volume activity during the period five days prior and five days after the dividend announcement. It means that dividend announcement have no effect on trading volume activity. This is demonstrated by the significant value of 0.563.Keywords: Stock Returns, Trading Volume Activity, Dividend Announcement, Paired Sample t-Test.
Co-Authors Ardianti, Adinda Novia Elly Astuti, Elly Farida Styaningrum Isharijadi Isharijadi, Isharijadi Kukuh Listriono, Kukuh Liana Vivin Wihartanti, Liana Vivin Maharani, Indrian Nasrul Rofiah Hidayati, Nasrul Rofiah Nik Amah Noviati, Putri Parji Parji Septi Hari Kurniawati Sulistyowati, Nur Wahyuning Supri Wahyudi Utomo, Supri