Jurnal Akuntansi dan Keuangan
Vol 8, No 2 (2006): NOVEMBER 2006

PENGARUH PENGUMUMAN DIVIDEN TERHADAP PERUBAHAN HARGA SAHAM SEBELUM DAN SESUDAH EX-DIVIDEND DATE DI BURSA EFEK JAKARTA (BEJ)

Siaputra, Lani ( Alumnus, Faculty of Economics, Petra Christian University )
Atmadja, Adwin Surja ( Faculty of Economics, Petra Christian University )



Article Info

Publish Date
12 Sep 2007

Abstract

This research is aimed to examine the influence of ex-dividend date on stock price movements in the Jakarta Stock Exchange. A 30-days of observation%2C divided into a 15-days period before and a 15-days period after the ex-dividend date%2C is analized by using an event study method applying the Paired Sample T-test.The result shows that the average price of stocks before the ex-dividend date are significantly different with those after the ex-dividend date. It indicates that there is a significant movement in the stocksÂ’ prices between the both periods of observation due to dividend announcement. Far more than that%2C the research also reveals that the amount of the stocksÂ’ price alteration is statistically the same as the amount of their dividend per share. Abstract in Bahasa Indonesia : Penelitian ini bertujuan untuk menganalisis pengaruh ex-dividen date terhadap perubahan harga saham di Bursa Efek Jakarta. Periode penelitian selama 30 hari%2C yaitu 15 hari sebelum dan 15 hari sesudah ex-dividend date yang dianalisa dengan menggunakan metode event study melalui aplikasi uji beda dua rata-rata berpasangan. Hasil penelitian menunjukkan bahwa nilai rata-rata harga saham sebelum ex-dividend date dan nilai rata-rata harga saham sesudah ex-dividend date secara statistik berbeda signifikan. Hal ini mengindikasikan%2C bahwa terjadi pergerakan harga saham yang signifikan selama antara dua periode observasi tersebut akibat pengumuman pembagian dividen. Lebih lanjut%2C besarnya perubahan harga saham tersebut secara statistik tidak berbeda dengan nilai dividen per lembar saham yang dibagikan. dividend%2C ex-dividend date%2C stock price.

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Journal Info

Abbrev

aku

Publisher

Subject

Economics, Econometrics & Finance

Description

The JAK invites manuscripts in the various topics include, but not limited to, functional areas of accounting and finance, financial accounting and securities market, management accounting, accounting information systems, auditing and ...