ANALISIS PERBANDINGAN ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY SEBELUM DAN SESUDAH PENGUMUMAN BUYBACK SAHAM (Studi Pada Perusahaan Yang Terdaftar Pada Bursa Efek Indonesia Yang Melakukan Buyback Periode Tahun 2016-2020)

Erna, Mulyani (2022) ANALISIS PERBANDINGAN ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY SEBELUM DAN SESUDAH PENGUMUMAN BUYBACK SAHAM (Studi Pada Perusahaan Yang Terdaftar Pada Bursa Efek Indonesia Yang Melakukan Buyback Periode Tahun 2016-2020). Undergraduate thesis, UIN RADEN INTAN LAMPUNG.

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Abstract

ABSTRAK Aksi korporasi seperti melakukan buyback saham (pembelian kembali saham) dapat di lakukan Perusahaan yang harga sahamnya mengalami penurunan di pasar sekunder, melakukan buyback dapat dijadikan alternatif yang dapat dipakai oleh emiten untuk meningkatkan kembali harga sahamnya. Dengan buyback saham dapat meningkatkan laba per saham (earning per share.) Rumusan masalah pada penelitian ini adalah apakah terdapat perbedaan rata-rata abnormal return dan rata-rat trading volume activity sebelum dan sesudah pengumuman buyback saham penelitian ini bertujuan untuk mengetahui perbedaan rata-rata abnormal return dan rata-rata trading volume activity sebelum dan sesudah pengumuman buyback saham. Penelitian ini menggunakan pendekatan kuantitatif, populasi penelitian ini adalah seluruh perusahaan yang terdaftar di bursa Efek Indonesia yang melakukan buyback tahun 2016-2020. Sampel penelitian sejumlah 30 perusahan yang diperoleh melalui metode purposive sampling. Penelitian ini menggunakan metode event study dengan 11 hari periode jendela yaitu H-5 sampai H-1 disebut pengamatan sebelum peristiwa pengumuman buyback saham, dan H+1 sampai H+5 disebut pengamatan sesudah peristiwa pengumuman buyback saham. Data dianalisis menggunakan uji normalitas kemudian dilakukan uji hipotesis dengan uji beda (uji t) menggunakan analisis Paired Sample T�Test dan dibantu SPSS 17.0 (Statistical Package for the Social Science). Hasil penelitian menunjukkan bashwa terdapat perbedaan rata-rata abnormal return dan rata-rata trading volume activity sebelum dan sesudah pengumuman buy back dilaksanakan. Investor menganggap bahwa peristiwa pembelian kembali saham merupakan good news sehingga dapat mengubah preferensi investor terhadap keputusan investasinya. Kata Kunci : Buyback saham, Abnormal Return, Trading Volume Activity, Bursa Efek Indonesia. iv Abstract Corporate action like stock buybacks (stock repurchases) can be undertaken by companies whose the prices of companies have decreased in the secondary market. Taking action of Buybacks can be used as an alternative for issuers to increase their stock prices. Stock buyback can increase earnings per share (earning per share).In the other hand, formula of the problem in this study discussion about is there any diference average abnormal return and average trending volume Activity when before and after Stok Buyback Announcement. This study aims to determine the difference in average abnormal returns and average trading volume activity before and after the store buy back announcement. This research uses a quantitative approach, the population of this study is all companies listed on the Indonesian Stock Exchange that carried out buybacks in 2016-2020. The research sample is 30 companies obtained through purposive sampling method. This research uses the event study method with 11 days window period, namely H-5 to H-1, which are called observations before the stock buyback announcement event, and H + 1 to H + 5 are called observations after the stok buyback announcement event. The data were analyzed using the normality test and then tested the hypothesis with a different test (t test) using Paired Sample T-Test analysis and assisted by SPSS 17.0 (Statistical Package for the Social Science). The results showed that there was a difference in the average abnormal return and the average trading volume actvity before and after the buy back announcement was made. Investors consider that the stock buyback event is good news so that it can change investors' preferences for their investment decisions. Keywords: Stock buyback, Abnormal Return, Trading Volume Activity, Indonesia Stock Exchange.

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