Factors affecting Abnormal Returns around Bonus Issue Announcements:
An Empirical Analysis of CNX 500 companies

Chhatwal, Haritika; Lamba, Ashu

doi:10.17492/mudra.v4i02.11445

Cited by 4 publications

(3 citation statements)

References 24 publications

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“…Penelitian mengenai pengaruh peristiwa ekonomi mikro yang dilakukan oleh Muna & Khaddafi (2022) dan Madani et al (2020) mengenai peristiwa stock split, Chhatwal & Lamba (2017) dan Christianto & Purbawangsa (2022) mengenai peristiwa right issue, serta penelitian oleh Syed & Bajwa (2018) mengenai pengumuman laba menunjukkan adanya reaksi pasar. Penelitian mengenai pengaruh peristiwa ekonomi makro yang dilakukan oleh Widyasari et al (2018) mengenai kebijakan amnesti pajak, Handayani et al, (2020) mengenai peraturan pemerintah PJOK 11 tahun 2020, dan Donadelli et al (2020) mengenai kebijakan ekonomi makro juga menunjukkan bahwa adanya reaksi pasar yang terjadi terhadap peristiwa tersebut.…”

Section: Pendahuluanunclassified

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Gayatri,

Gede Suarjaya,

Dana

2024

EJMUNUD

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Bank Indonesia strengthened its monetary operating framework by implementing a new policy rate, the BI-7 Day Reverse Repo Rate (BI7DRR). At the Board of Governors Meeting (RDG) of Bank Indonesia on November 16-17, 2022, decided to raise the BI7DRR by 50 bps (basis points) to 5.25% as a step in controlling the inflation rate and strengthening the stabilization policy towards the Rupiah exchange rate. This research is an event study that aims to empirically test the information content of the announcement of the increase in the Bank Indonesia 7-Day Reverse Repo Rate on November 17, 2022. The population in this study are all companies included in the list of companies in the Kompas 100 Index. Determination of the research sample size using the slovin technique so as to obtain 80 sample companies and sampling using the simple random sampling method. Tests were conducted on abnormal returns using the one-sample t-test analysis on 80 sample companies in the Kompas 100 Index. The results of the research on the announcement of the increase in the Bank Indonesia 7-Day Reverse Repo Rate on November 17, 2022 show that significant abnormal returns are only found at t-3 and t0, and are not significant at t-2, t-1, t+1, t+2, t+3, so it can be concluded that the policy has information content but is absorbed quickly by market participants, so the market is said to be efficient in the semistrong form information. Keywords: Abnormal Return; Capital Market Reaction; Efficient Market Hypotesis; Interest Rate.

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Section: Pendahuluanunclassified

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Gayatri,

Gede Suarjaya,

Dana

2024

EJMUNUD

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“…Temuan Khoso et al (2016) menyatakan terdapat abnormal return positif terhadap peristiwa right issue. Chhatwal & Lamba (2018) juga menemukan bahwa terdapat abnormal return signifikan dari harga saham di pasar saat peristiwa right issue. Berdasarkan uraian tersebut maka hipotesis penilitian yang dirumuskan adalah" H 1 : Terdapat perbedaan abnormal return yang signifikan sebelum dan sesudah peristiwa right issue…”

Section: Abnormal Return 2 Trading Volume Activityunclassified

“…menyatakan terdapat abnormal return terhadap peristiwa right issue Chhatwal & Lamba (2018). juga menemukan bahwa terdapat abnormal return signifikan dari harga saham di pasar saat peristiwa right issue.…”

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Reaksi Pasar Terhadap Peristiwa Right Issue Di Bursa Efek Indonesia

Christianto

Purbawangsa

2022

EJMUNUD

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A rights issue is a limited public offering activity to current investors to give preemptive rights. The purpose of this study is to determine the market reaction to the rights issue as measured by abnormal returns and trading volume activity using. 52 companies used as sample that carried out corporate rights issues in 2018-2019 listed on the Indonesia Stock Exchange usingt with purposive sampling. Data collection was done by observing and recording data from reports and archives from several sources, analyzed using normality test and hypothesis testing using the nonparametric Wilcoxon signed rank test tool. The results show that the announcement of the rights issue has a significant impact on abnormal returns. Rights issue announcements also have a significant effect on trading volume activity. Keywords: Right Issue, Abnormal Return, Trading Volume Activity

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Lockdown, unlock, stock returns, and firm-specific characteristics: the Indian tourism sector during the Covid-19 outbreak

Pandey

Kumar

2021

Current Issues in Tourism

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Factors affecting Abnormal Returns around Bonus Issue Announcements: An Empirical Analysis of CNX 500 companies

Cited by 4 publications

References 24 publications

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Untitled

Reaksi Pasar Terhadap Peristiwa Right Issue Di Bursa Efek Indonesia

Lockdown, unlock, stock returns, and firm-specific characteristics: the Indian tourism sector during the Covid-19 outbreak

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