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- W2300330894 abstract "ABSTRAKPenelitian ini bertujuan untuk menguji efisiensi pasar modal bentuk setengah kuat atas peristiwa pengumuman stock split di Bursa Efek Indonesia periode 2012-2014. Data yang digunakan adalah abnormal return perusahaan yang melakukan pengumuman stock split. Pemilihan sampel menggunakan metode purposive sampling dan terdapat 15 perusahaan yang memenuhi kriteria. Penelitian ini menggunakan uji one sample t-test dengan periode pengamatan (event window) adalah 7 hari yaitu t-3 (3 hari sebelum pengumuman stock split), t0 (1 hari pada pengumuman stock split) dan t+3 (3 hari sesudah pengumuman stock split). Hasil penelitian menunjukkan adanya kandungan informasi dari pengumuman stock split, hal ini ditunjukkan dengan adanya abnormal return yang bernilai negatif dan signifikan yaitu sebesar 0,000 pada tanggal pengumuman (t0). Hasil pengujian kecepatan reaksi pasar menunjukkan bahwa investor bereaksi cepat terhadap pengumuman stock split, hal ini dilihat dengan adanya abnormal return yang signifikan hanya terjadi pada waktu 1 hari, yaitu satu hari pada tanggal pengumuman. Sehingga tidak ada investor yang memperoleh abnormal return dalam jangka waktu yang lama. Berdasarkan hasil pengujian, dapat disimpulkan bahwa pasar modal Indonesia, yang diwakili oleh Bursa Efek Indonesia sudah efisien bentuk setengah kuat terhadap peristiwa pengumuman stock split. Kata kunci: Abnormal return, Efisiensi pasar bentuk setengah kuat, Stock splitABSTRACTThe purpose of this research is to examine the semi-strong form of market efficiency towards stock split announcement in the Indonesian Stock Exchange 2012-2014 period. The data used is the abnormal return companies that make stock split announcements. The sample was taken by using of purposive sampling and there were 15 companies that meet the criteria. This research applies one sample t-test with the 7 days observatory period (event window), t-3 (three days before stock split announcement), t0 (one day at the event date stock split announcement ) and t+3 (three days after stock split announcement). The result of this research shows that there are information content in stock split announcement, this results was indicated by the negative and significance of abnormal return about 0,000 in the event date (t0). The result of test speed market shows that market react quickly in stock split announcement, this result seen in the presence of significance abnormal return only occurred in one day, is one day at the event date. So that no investors who acquire the abnormal return in the long term. Based on those result, it can be concluded that capital market of Indonesia, which represented by Indonesian Stock Exchange have already semi-strong form efficiency market to the stock split announcement. Key words: Abnormal return, Semi-strong form market efficiency, Stock split" @default.
- W2300330894 created "2016-06-24" @default.
- W2300330894 creator A5066182623 @default.
- W2300330894 date "2016-01-12" @default.
- W2300330894 modified "2023-09-24" @default.
- W2300330894 title "PENGUJIAN EFISIENSI PASAR BENTUK SETENGAH KUAT ATAS PERISTIWA PENGUMUMAN STOCK SPLIT DI BURSA EFEK INDONESIA PERIODE 2012-2014" @default.
- W2300330894 hasPublicationYear "2016" @default.
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