Stock-Split and Stock-Dividend Decisions

1973 ◽  
Vol 2 (4) ◽  
pp. 35 ◽  
Author(s):  
James A. Millar ◽  
Bruce D. Fielitz
Keyword(s):  
Stock Split ◽  
Stock Dividend

scholarly journals PERBANDINGAN DAMPAK KEBIJAKAN STOCK SPLIT, STOCK DIVIDEND DAN RIGHT ISSUE TERHADAP HARGA SAHAM DI BURSA EFEK INDONESIA

2018 ◽  
Author(s):  
Novia Sandra Dewi
Keyword(s):  
Abnormal Return ◽  
T Test ◽  
Paired Sample ◽  
Stock Split ◽  
H 20 ◽  
Stock Dividend

Penelitian ini membandingkan pengaruh beberapa kebijakan perusahaan terhadap harga saham di Bursa Efek Indonesia. Ini dilakukan untuk mengetahui seberapa signifikan masing-masing kebijakan tersebut berpengaruh terhadap harga saham. Kebijakan tersebut yaitu Stock Split (pemecahan saham), Stock Dividen (dividen berupa saham) dan Right Issue (hak yang melekat pada saham yang telah beredar di masyarakat). Data penelitian adalah data harga saham dan transaksi saham harian selama 2005-2010. Data yang diambil merupakan data seputaran H-20 sampai H+20, lalu diolah dengan menggunakan alat analisis uji paired sample t test, uji one sample t test, independent sample t test dan uji t variable abnormal return. Hasil penelitian menunjukkan tidak terdapat perbedaan signifikan terhadap harga saham antara sebelum dan setelah kebijakan stock split. Pada kebijakan stock dividen juga tidak terdapat perbedaan yang signifikan terhadap harga saham antara sebelum dan setelah kebijakan dilakukan, hanya pada H-12 dan H+12 ditemukan perbedaan yang signifikan sebesar 0,015. Pada kebijakan right issue juga tidak terdapat perbedaan yang signifikan terhadap harga saham antara sebelum dan setelah kebijakan dilakukan, hanya pada H-20 dan H+20 didapatkan perbedaan yang signifikan sebesar 0,045. Setelah ketiga kebijakan ini dibandingkan maka ditemukan adanya perbedaan signifikan antara dampak kebijakan stock split terhadap harga saham dengan dampak kebijakan stock dividen terhadap harga saham dan dampak kebijakan right issue terhadap harga saham. Ini dilihat dari perbedaan harga saham pada masing-masing kebijakan baik pada masa sebelum maupun setelah kebijakan dilakukan. Saat dilakukan stock split, harga saham akan sangat berfluktuasi pada masa-masa sebelum dilakukannya stock split. Sementara saat dilakukannya stock dividen, harga saham berfluktuasi sepanjang masa baik sebelum maupun setelah dilakukannya stock dividen. Dan kebalikan dari stock split, right issue cenderung mengalami perubahan saham yang cukup fluktuatif pada masa setelah dilakukannya right issue.

scholarly journals Analysis Of Corporate Actions And Effect On Stock Trading The Indonesia Stock Exchange

2019 ◽  
Vol 5 (1) ◽  
pp. 15
Author(s):  
Fitriana Fitriana ◽  
Tahmat Tahmat ◽  
Abang Firdaus ◽  
Iskandar Ahmaddien
Keyword(s):  
Stock Exchange ◽  
Corporate Action ◽  
Study Results ◽  
Significant Difference ◽  
Stock Split ◽  
Stock Buyback ◽  
Buy Back ◽  
Corporate Actions ◽  
Stock Dividends ◽  
Stock Dividend

This study aims to look at the effect of the corporate action against trading on the Stock Exchange be something interesting to do research on five companies that perform corporate actions. Data were analyzed using descriptive methods and comparative analysis of the event study method with a different test two parties. Event windows use 15 days prior to the corporate action and 15 days after the corporate action. Results of research on five companies that perform corporate actions earned actions stock buy-backs, stock-dividend and stock split no significant effect on actual returns after the announcement date. On the trading frequency, action stock-buyback have significant differences, whereas stock dividend and stock-split not. On average trading value, action stock-dividend and stock-buyback not any significant difference, while stock-split showed a significant difference. The study results are not normal events of their return on stock dividends 7 days after the date of announcement of the action stock-split-return normal not occur on days 3 and 4, while on the corporate action buy-back not occur. Stock-dividend while the information content contained in stock-split and buy-back did not show a significant investor reaction.

ANALISIS PENGARUH SEBELUM DAN SETELAH STOCK SPLIT TERHADAP LIKUIDITAS SAHAM DAN DAMPAKNYA TERHADAP RETURN SAHAM (Survei Pada Perusahaan Yang Terdaftar di Bursa Efek Indonesia Tahun 2005-2015)

2017 ◽  
Vol 9 (2) ◽  
pp. 9-20
Author(s):  
Surtikanti - ◽  
Erwin Indra Kusumah
Keyword(s):  
Event Study ◽  
Stock Split

Pasar modal dibangun dengan tujuan menggerakkan perekonomian suatu negara melalui kekuatanswasta dan mengurangi beban negara. Investasi merupakan penundaan konsumsi pada saat inidengan tujuan mendapatkan tingkat pengembalian (return) yang akan diterima di masa yang akandatang. Stock split dibuat untuk menambah likuiditas pergerakan saham dan memungkinkan investorritel masuk lebih banyak sehingga aktivitas volume perdagangan lebih meningkat. Fenomena yangterjadi dibeberapa perusahan yang terdaftar di Bursa Efek Indonesia dibawah ini melakukan stocksplit dengan tujuan agar sahamnya menjadi likuid atau aktivitas volume perdagangan (trading volumeactivity) sahamnya makin besar setelah melakukan stock split, ternyata hal ini di Bursa EfekIndonesia tidak terjadi. Metode yang digunakan dalam penelitian ini adalah metode explonatorysurvey yang berdasarkan pada studi peristiwa (event study). Dengan menggunakan dua alat analisisyaitu analisis komparatif dan analisis jalur. Hasil penelitian menunjukkan bahwa terdapat perbedaanyang tidak signifikan pada likuiditas saham dan return saham sebelum dan setelah stock split terjadi.Sedangkan stock split berpengaruh signifikan terhadap likuiditas saham. Likuditas sahamberpengaruh signifikan terhadap return saham. Jadi stock split melalui likuiditas saham berpengaruhsignifikan terhadap return saham.   

The Value of the Tax Deferral Option

2020 ◽  
pp. 0148558X2098021
Author(s):  
Nan-Ting Kuo ◽  
Cheng-Few Lee
Keyword(s):  
Stock Price ◽  
Price Change ◽  
Tax Rates ◽  
Trading Volumes ◽  
Tax Savings ◽  
Stock Dividends ◽  
Stock Dividend

This study explores the value of the tax deferral option. By examining ex-day stock-price-change ratios for taxable stock dividends in Taiwan, we find that the tax deferral option is valuable to investors. For a $1 taxable stock dividend, the tax deferral option produces 33.9 ¢ in tax savings, which suggests a tax deferral parameter of 11.3%. We also find that stocks with the tax deferral option have higher trading volumes around ex-days than those without this option, and that higher investor-level tax rates lead to higher value of the tax deferral option. We contribute to the literature by cleanly determining the value of the tax deferral option; our result is not confounded by the restart option.

scholarly journals Harga Saham Sebelum dan Sesudah Stock Split

2020 ◽  
Vol 3 (2) ◽  
pp. 390-395
Author(s):  
Junita Putri Rajana Harahap ◽  
Murni Dahlena Nasution
Keyword(s):  
Event Study ◽  
Capital Market ◽  
Stock Prices ◽  
Stock Price ◽  
Research Method ◽  
Price Difference ◽  
Significant Difference ◽  
Stock Split ◽  
Before And After ◽  
A Company

The stock split causes the stock price to be cheaper so that it will attract potential investors to buy the stock. This research was conducted to determine when it is time for a company to do a stock split, information available on the capital market can be used by investors for consideration before investors make a decision to invest in shares. The study aims to determine the changes that occur in stock prices before and after the stock split policy by the company. The research method used in this research is event study research with a quantitative approach. This study examines how significant the stock price difference is after a stock split policy. The sample used in this study were all companies that carried out the 2016-2018 stock split policy. The results of research on companies that become samples have shown that the average stock price before the announcement of the stock split policy has no significant difference with the average stock price after the announcement of the stock split policy Keywords : Stock Price, Stock Split

scholarly journals ANALISIS PERBEDAAN HARGA SAHAM, RETURN SAHAM, DAN ABNORMAL RETURN SEBELUM DAN SESUDAH STOCK SPLIT PADA PERUSAHAAN HIGH PROFILE DAN LOW PROFILE YANG TERDAFTAR DI BURSA EFEK INDONESIA

2021 ◽  
Vol 11 (1) ◽  
pp. 42
Author(s):  
Pita Rahmawati ◽  
Jawoto Nusantoro ◽  
Gustin Padwa Sari
Keyword(s):  
Stock Returns ◽  
Stock Prices ◽  
Abnormal Returns ◽  
T Test ◽  
Paired Sample ◽  
High Profile ◽  
Normality Test ◽  
Low Profile ◽  
Stock Split ◽  
Before And After

This research aims to determine whether there are differences in stock prices, stock returns and abnormal returns before and after a stock split in high profile and low profile companies. The research period used in this study was on 2016-2018. The research was analyzed in quantitative method by using a purposive sampling method. Based on the sampling criteria, 40 companies were selected as research samples. Kolmogorov Smirnov One Sample test was used for the normality test. After the normality test was carried out, the data was processed using the two paired-sample difference test. The t-test (paired sample t-test) was used if data were normally distributed but if it was not normally distributed the Wilcoxon Signed Rank test would be used. Hypothesis testing results showed that (1) there are differences in stock prices whether before and after a stock split in high profile companies (2) there are differences in stock prices whether before and after the stock split in low profile companies (3) there are differences in stock returns whether before and after a stock split in the company high profile (4) there is no difference in stock returns whether before and after the stock split in low profile companies (5) there is no difference in abnormal returns whether before and after the stock split in high profile companies (6) there is no difference in abnormal returns whether before and after the stock split in low profile companies (7) there are differences in stock prices after a stock split in high profile companies and low profile (8) there is no difference in stock returns whether before and after the stock split in high profile and low profile companies (9) there is no difference in abnormal stock returns whether before and after a stock split at high profile and low profile companies.

Sign in / Sign up

Export Citation Format

Share Document