A Return and Trading Volume Activity Analysis on Before and After Stock Split Announcement (At Indonesian Stock Exchange Period 2014-2018)

Pangesti, Ayu Putri Kukuh and Titisari, Kartika Hendra and Nurlaela, Siti (2020) A Return and Trading Volume Activity Analysis on Before and After Stock Split Announcement (At Indonesian Stock Exchange Period 2014-2018). A Return and Trading Volume Activity Analysis on Before and After Stock Split Announcement (At Indonesian Stock Exchange Period 2014-2018), 4 (1). ISSN 2581-3889

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Abstract

This study aims to determine whether there are differences in abnormal return (AR) and trading volume activity (TVA) between before and after the announcement of a stock split. The data used in this study are secondary data from the Indonesia Stock Exchange (IDX). Sampling in this study used a purposive sampling method. With certain criteria obtained a sample of 36 companies. This study uses event studies to determine the information content contained in an event. Hypothesis testing conducted in this study uses the normality test and the Wilcoxon signed rank test. The results of testing the first hypothesis in this study indicate that there are differences in AR between before and after the announcement of a stock split. This happens because investors consider the stock split announcement to have economic value and prefer to allocate their funds to companies that conduct stock split. Whereas in testing the second hypothesis it was found that there was no significant TVA difference between before and after the announcement of the stock split.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Admin Repository UIBS
Date Deposited: 10 Apr 2023 04:05
Last Modified: 10 Apr 2023 04:05
URI: https://repository.uniba.ac.id/id/eprint/791

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