TRANSFER INFORMASI INTRA INDUSTRI ATAS PENGUMUMAN DIVIDEN TUNAI (STUDI PADA PERUSAHAAN YANG TERDAFTAR DI DAFTAR EFEK SYARIAH PERIODE 2015 – 2017)

ERMIN TRI SETYAWATI, NIM. 1520311070 (2018) TRANSFER INFORMASI INTRA INDUSTRI ATAS PENGUMUMAN DIVIDEN TUNAI (STUDI PADA PERUSAHAAN YANG TERDAFTAR DI DAFTAR EFEK SYARIAH PERIODE 2015 – 2017). Masters thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

The announcement of dividend do not only influence stock price trading of company announcing the dividend but also other companies in the same industry which are not announcing. This point is because the industry has similar characteristic. Company in the same industry will face similar circumstances so that the announcement of company can provide information toward its competitors. The effect of intra-industry is the transfer information from the company announcing the event to another company which has not or has not announced the event in the same industry. This study aims to examine the transfer of intra-industry information toward cash dividend announcement event on manufacturing companies listed on DES from 2015 to 2017. This study was conducted to answer whether the event has information value for investor as reflected in price changes (proxied with abnormal return ) and trading volume (proxied by trading activity volume) in the capital market. This study observed at 11 days observation period (5 days before, 1 day of announcement, 5 days after). The sample was chosen by purposive sampling with certain criteria. The analytical method used is t test analysis to determine the significance value in the days around the event as an indicator of the assessment of the meaningfulness of information on the test market reaction. While the difference test between cash dividend announcement with dividend cumdate as control variable tested using independent analysis of sample t-test. The result of this study is firstly, the announcement of cash dividend effect on abnormal return and trading volume activity of company's stock of reporter and non reporter. Secondly, the announcement of cash dividend in this study resulted in competitive effect and contagion. Competitive effect shows that good news of a company is seen as bad news by other companies, while the contagion effect shows that good news by a company can describe the condition of company. Thirdly, while the difference tests between cash dividend announcement with dividend cumdate as control variable shows that there is no difference of average abnormal return and trading volume activity of stock at event announcement of cash dividend or dividend cumdate

Item Type: Thesis (Masters)
Additional Information / Pembimbing: Dr. Ibnu Qizam, S.E., Akt., M.Si.
Uncontrolled Keywords: Transfer information of intra-industry, stock abnormal return, trading volume activity and dividend cumdate.
Subjects: Ekonomi Islam
Divisions: Pascasarjana > Thesis > Ekonomi Islam
Depositing User / Editor: Drs. Mochammad Tantowi, M.Si.
Date Deposited: 29 Jan 2019 08:23
Last Modified: 29 Jan 2019 08:23
URI: http://digilib.uin-suka.ac.id/id/eprint/32802

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