Hotel company mergers from 2004 to 2007: abnormal stock return and volume activity surrounding the merger announcement date

2010 ◽  
Vol 4 (3/4) ◽  
pp. 363 ◽  
Author(s):  
Barry A.N. Bloom
Keyword(s):  
Stock Return ◽  
Volume Activity ◽  
Announcement Date ◽  
Merger Announcement

Analisis Komparatif Return Saham Dan Volume Perdagangan Saham Sebelum dan Sesudah Harbolnas Pada Perusahaan Dagang Yang Terdaftar Di Bei

2020 ◽  
Vol 17 (2) ◽  
Author(s):  
Devy Putri Milanda ◽  
Taufan Adi Kurniawan
Keyword(s):  
Linear Regression ◽  
Abnormal Return ◽  
Stock Return ◽  
Industrial Revolution ◽  
Online Shopping ◽  
Stock Exchange ◽  
Trade Volume ◽  
Volume Activity ◽  
Significance Level ◽  
Before And After

The industrial revolution resulted in several industries changing their management in order to survive, one of the industries that was affected quite considerably was the trading industry. This study aims to analyze stock return and Trade Volume Activity (TVA) of trading companies in Indonesia Stock Exchange (IDX) before and after Harbolnas (Hari Belanja Online Nasional) or National Online Shopping Days. The samples are all trading companies that have listed on the IDX in the year 2019. This study use multiple linear regression with a significance level of 5%. The results show there are no significant differences in the abnormal return before and after Harbolnas, and there are no significant differences in the TVA before and after the harbolnas

scholarly journals MENGGUNAKAN MD&A UNTUK MENINGKATKAN PERKIRAAN PENDAPATAN DAN REAKSI INVESTOR (STUDI EMPIRIS PERUSAHAAN GO PUBLIC DI INDEKS SAHAM SYARIAH INDONESIA)

2020 ◽  
Vol 4 (2) ◽  
pp. 309-332
Author(s):  
Mila Alim Bahri
Keyword(s):  
Corporate Governance ◽  
Stock Returns ◽  
Trading Volume ◽  
Stock Return ◽  
Annual Report ◽  
Market Reaction ◽  
T Test ◽  
Stock Index ◽  
Volume Activity ◽  
Purposive Sampling

Abstract This study aims to provide empirical evidence of investors' reactions to disclosure management discussion and analysis (MD&A) and Trading Volume Activity (TVA) in companies listed on the Indonesia Stock Exchange from 2013 to 2018. The motivation for this research is that there are not many studies in Indonesia. which investigated the effects of MD&A on investor decisions which are illustrated by the market reaction to stock returns and volume of trading activity (TVA). This research is a quantitative study using secondary data as a source of data collection with the population of companies registered in ISSI for the 2013-2018 period. With the purposive sampling technique, 30 companies were obtained based on the highest average daily transaction value in the regular market listed in the JII (Jakarta Islamic Index). The final data used in this study are those obtained from the Annual Report of companies listed on the Indonesian Sharia Stock Index (ISSI) and JII, the Corporate Governance Perception Index (CGPI) data from the survey results of The Indonesian Institute of Corporate Governance (IICG) for the period 2013-2018. Yahoo Finance Historical Prices list for the period 2013-2018, and SWA Magazine for the period 2013-2018. Then, hypothesis testing is carried out using multiple linear regression tests and partial non-parametric correlation. The results show that (1) there is a significant positive relationship of MD&A disclosure on stock returns and (2) there is a disclosure of a significant positive effect of MD&A on trading volume activities (TVA). This study also adds a paired sample t-test to find out the difference before and after the stock price and TVA. Keywords: Management's Discussion and Analysis (MD&A), Market Reaction, Stock Return, Trading Volume Activity.   Abstrak Penelitian ini bertujuan untuk memberikan bukti empiris dari reaksi investor terhadap pengungkapan manajemen diskusi dan analisis (MD&A) dan Trading Volume Activity (TVA) pada perusahaan yang terdaftar di Bursa Efek Indonesia pada tahun 2013 sampai dengan 2018. Motivasi penelitian ini adalah belum banyaknya studi di Indonesia yang menyelidiki efek MD&A pada keputusan investor yang diilustrasikan oleh reaksi pasar terhadap pengembalian saham dan volume aktivitas perdagangan (TVA). Penelitian ini merupakan penelitian kuantitatif dengan menggunakan data sekunder sebagai sumber pengumpulan data dengan populasi perusahaan yang terdaftar di ISSI periode 2013-2018. Dengan teknik Purposive Sampling sehingga diperoleh 30 perusahaan berdasarkan rata-rata nilai transaksi harian di pasar regular tertinggi yang terdaftar dalam JII (Jakarta Islamic Indeks). Data akhir yang digunakan dalam penelitian ini adalah yang diperoleh dari Annual Report perusahaan yang terdaftar di Indeks Saham Syariah Indonesia (ISSI) dan JII, data Corporate Governance Perception Index (CGPI) hasil survei The Indonesian Institute of Corporate Governance (IICG) periode 2013-2018, daftar Historical Prices Yahoo Finance periode 2013-2018, dan Majalah SWA periode 2013-2018. Kemudian, pengujian hipotesis dilakukan dengan menggunakan beberapa uji regresi linear dan korelasi non-parametrik parsial. Hasilnya menunjukkan bahwa (1) ada hubungan positif yang signifikan dari pengungkapan MD&A pada pengembalian saham dan (2) ada pengungkapan efek positif yang signifikan dari MD&A pada aktivitas volume perdagangan (TVA). Studi ini juga menambahkan pairedsampel t-test untuk mengetahui perbedaan sebelum dan sesudah harga saham dan TVA. Kata kunci: Management's Discussion and Analysis (MD&A), Market Reaction, Stock Return, Trading Volume Activity.

scholarly journals Dividend Announcement and Ex-Dividend Effects on Stock Return

2016 ◽  
Vol 8 (7) ◽  
pp. 207
Author(s):  
Dinh Bao Ngoc ◽  
Nguyen Chi Cuong
Keyword(s):  
Event Study ◽  
Stock Price ◽  
Stock Return ◽  
Dividend Policy ◽  
Abnormal Returns ◽  
Listed Companies ◽  
Announcement Date ◽  
Study Methodology ◽  
The Impact ◽  
Event Study Methodology

<p>We study the impact of dividend policy on the stock return by investigating reaction of the stock price on the dividend announcement date and the ex-dividend date.<strong> </strong>In order to achieve this goal, a sample comprising 1962 observations of dividend-related events from 432 listed companies in Vietnam during the period 2008 to 2015 is chosen to analyze and the event study methodology is used to estimate abnormal returns to the shares around the announcement date and the ex-dividend date. Our results clearly show that the effect of dividend announcement on the stock return is positive around the announcement date. In addition, the stock price moves up as long as the ex-dividend date approaches and then starts decreasing from this date onwards.</p>

scholarly journals Analisis Perbedaan Liquiditas Saham, Kinerja Keuangan, dan Return Saham di Sekitar Pengumuman Stock Split

The Winners ◽  
2008 ◽  
Vol 9 (1) ◽  
pp. 1
Author(s):  
Harjum Muharam ◽  
Hanung Sakti
Keyword(s):  
Multivariate Analysis ◽  
Financial Performance ◽  
Analysis Of Variance ◽  
Trading Volume ◽  
Stock Return ◽  
Stock Exchange ◽  
Volume Activity ◽  
Stock Liquidity ◽  
Stock Split ◽  
The Difference

Using 13 samples from listed companies in Jakarta Stock Exchange within 2003-2005, this article analyze the difference of stock liquidity, financial performance, and stock return in the period of stock split announcement. Multivariate Analysis of Variance (MANOVA) shows that there is no difference in Trading Volume Activity (TVA) of stock and financial performance before, within, and after stock split announcement, but this study finds that the difference in stock return exist in the period of stock split announcement.

scholarly journals Perancangan Model Return Saham Pada Perusahaan Otomotif Yang Go Public

2020 ◽  
Vol 3 (2) ◽  
pp. 59
Author(s):  
Widy Setyawan ◽  
Bramantiyo Eko Putro ◽  
Marwan Irawan
Keyword(s):  
Time Series ◽  
Automotive Industry ◽  
Return On Investment ◽  
Trading Volume ◽  
Stock Return ◽  
Economic Value ◽  
Value Added ◽  
Linear Regression Method ◽  
Economic Value Added ◽  
Volume Activity

Abstract— The development of a good automotive industry attracts investors to invest in this industry. The current investment grows into one of the lifestyles of modern society. Individuals or groups who have excess resources will do this activity. The purpose of the investment is to earn a profit or gain additional wealth in the future. There are various forms of investment that are on real assets, financial assets, or securities (stocks, bonds, deposits, and others). Automotive companies that go public serve as subjects in this study. Because the automotive company is a rapidly growing industry. In addition, the automotive industry stocks are among the most actively traded stocks, so the stock price moves quite actively. Based on these thoughts, the authors conducted a study on the design of the model of stock returns on automotive companies that go public. The design of research model refers to the basic model of stock return. Model design on the influence of return on investment, economic value added and stock liquidity by trading volume activity method to stock return. Research data obtained by way of documentation from data of automotive companies listed in Indonesia stock exchange in the year 2013-2016. The data obtained are used to test the model empirically by using multiple linear regression method with time series problem. From the test results, it is known that roi, eva and tva effect simultaneously on stock return and for the model of each variable is explained from the results of the hypothesis that roi is accepted which means partially positive effect on stock return, while for eva and tva is rejected which means no effect on stock returns.Keywords :  Return On Inverstment, Economic Value Added, Trading Volume Activity, Stock Return Abastrak - Perkembangan industri otomotif yang baik menarik para investor untuk melakukan investasi pada industri ini. Investasi saat ini tumbuh menjadi salah satu gaya hidup masyarakat modern. Individu ataupun kelompok yang memiliki kelebihan sumber daya akan melakukan kegiatan ini. Tujuan dari investasi adalah untuk mendapatkan keuntungan atau mendapatkan tambahan kekayaan di masa yang akan datang. Ada berbagai macam bentuk dari investasi yaitu pada aktiva riil, aktiva finansial, atau sekuritas (saham, obligasi, deposito,dan lainnya). Perusahaan otomotif yang go public dijadikan sebagai subyek dalam penelitian ini. Dikarenakan perusahaan otomotif merupakan industri yang berkembang dengan pesat. Selain itu saham-saham industri otomotif termasuk ke dalam saham yang paling aktif diperdagangkan, sehingga harga sahamnya pun bergerak cukup aktif. Berasarkan pemikiran tersebut, penulis melakukan penelitian mengenai perancangan model return saham pada perusahaan otomotif yang go public. Perancangan model penelitian merujuk pada model dasar mengenai return saham. Perancangan model mengenai pengaruh return on investment, economic value added dan likuiditas saham dengan metoda trading volume activity terhadap return saham. Data penelitian diperoleh dengan cara dokumentasi dari data  perusahaan otomotif yang terdaftar di bursa efek indonesia pada tahun 2013-2016. Data yang diperoleh digunakan untuk menguji model secara empiris dengan menggunakan metode regresi linier berganda dengan permasalahan time series. Dari hasil pengujian, diketahui bahwa roi, eva dan tva berpengaruh secara simultan terhadap return saham dan untuk model dari masing-masing variabel dijelaskan dari hasil hipotesis yang menunjukan bahwa roi diterima yang berarti berpengaruh positif secara parsial terhadap return saham, sedangkan untuk eva dan tva ditolak yang berarti tidak berpengaruh terhadap return saham.Kata kunci : Return On Inverstment, Economic Value Added, Trading Volume Activity, Return Saham

scholarly journals Reaksi Pasar Atas Pengumuman Dividen (Studi Pada Emiten Yang Terdaftar Di Jakarta Islamic Index)

2017 ◽  
Vol 3 (2) ◽  
pp. 85
Author(s):  
Ari Widodo ◽  
Nisful Laila
Keyword(s):  
Stock Price ◽  
Abnormal Return ◽  
Trading Volume ◽  
Market Reaction ◽  
Volume Activity ◽  
Announcement Date ◽  
Significant Difference ◽  
Before And After ◽  
Abnormal Trading Volume

This research aims to see market reaction over the increasing and declining dividend announcement. The objective in this research is to test whether the stock price reacts positively to the increasing dividend announcement and reacts negatively to the declining dividend announcement are shown by the significant abnormal return (AR) value in around the announcement date and by the significant difference of abnormal trading volume activity (ATVA) before and after the announcement. The results indicate that market does not react over increasing as well as decreasing dividend announcement. This indicates that the event of dividend changes announcement are not reacted by market.

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