Lani Siaputra
Alumnus, Faculty of Economics, Petra Christian University

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Journal : Jurnal Akuntansi dan Keuangan

PENGARUH PENGUMUMAN DIVIDEN TERHADAP PERUBAHAN HARGA SAHAM SEBELUM DAN SESUDAH EX-DIVIDEND DATE DI BURSA EFEK JAKARTA (BEJ) Siaputra, Lani; Atmadja, Adwin Surja
Jurnal Akuntansi dan Keuangan Vol 8, No 2 (2006): NOVEMBER 2006
Publisher : Institute of Research and Community Outreach - Petra Christian University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (142.772 KB) | DOI: 10.9744/jak.8.2.pp. 71-77

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 stocks’ 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 stocks’ 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.