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The Stickiness of Selling, General, and Administrative Costs in the Indonesian Companies Henry Suthiono, Benny Armanto, Karoline Melanika Tiono,
INTERNATIONAL RESEARCH JOURNAL OF BUSINESS STUDIES Vol 7, No 1 (2014): April-July 2014
Publisher : Universitas Prasetiya Mulya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (158.945 KB)

Abstract

PRICE REACTION TO RIGHTS ISSUES ANNOUNCEMENT: NEW EVIDENCE FROM INDONESIA Henry Suthiono; Lukas Setia Atmaja
Jurnal Aplikasi Manajemen Vol 17, No 4 (2019)
Publisher : Jurusan Manajemen Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jam.2019.017.04.04

Abstract

Research on rights issues has been carried out in Indonesia with mixed results and in a short period, between 3-8 years. The results of research on rights issues in Indonesia are mostly insignificant. The number of sleep stocks can cause that. Therefore, a longer period of research is needed to examine the reaction of stock prices to the announcement of rights issues. This study uses data that has been available from 1991 to 2016 and uses an event study methodology that considers thin trading. This study found significant negative abnormal returns between -1.66% and -2.80% at different periods. Therefore, this study does not support that the Indonesia Stock Exchange is in a semi-strong efficiency. The characteristic of companies in Indonesia is the family company, but this is not considered in this study, which can be considered for further research.