Novriyanthi Taungke, Novriyanthi
Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

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EX-DIVIDEND DATE DAN PERUBAHAN HARGA SAHAM Taungke, Novriyanthi; Supramono, S
Jurnal Keuangan dan Perbankan Vol 19, No 3 (2015): September 2015
Publisher : D-III Keuangan dan Perbankan

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Abstract

The aim of this study is to analyze whether the stock prices decrease at ex-dividend date in Indonesia Stock Exchange (IDX) that is determined by amount of dividend drop-off ratio (DDR). This study also attempts to investigate the differences the stock prices decrease at ex-dividend date based on Investment Opportunity Set (IOS). Sample consist of  the companiesthat announced the dividend during 2010-2012 periods. By using non-parametric tests, especially Chi-square Test and Mann Whitney Test,  the result of this study showed the stock prices decreased less than dividend amount on ex-dividend date. Besides, the non-growth firms experienced decrease more than growth firms.