ANALISIS PENGUMUMAN RIGHT ISSUE TERHADAP ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY DI INDONESIA STOCK EXCHANGE (Study Event pada Sektor Finance dan Sektor Trade, Service and Investment 2017-2019)

ANISA, DAHLIA (2022) ANALISIS PENGUMUMAN RIGHT ISSUE TERHADAP ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY DI INDONESIA STOCK EXCHANGE (Study Event pada Sektor Finance dan Sektor Trade, Service and Investment 2017-2019). Undergraduate thesis, UIN RADEN INTAN LAMPUNG.

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Abstract

ABSTRAK Setiap perusahaan membutuhkan modal, baik itu perusahaan besar ataupun kecil. Kesulitan paling klasik yang dimiliki oleh perusahaan dalam kegiatan usaha terletak pada modal, modal digunakan perusahaan untuk memenuhi kebutuhan likuiditas, pembayaran hutang ataupun pengembangan usaha (ekspansi). Upaya yang dapat dilakukan perusahaan go public dalam mencari sumber pendaaan ialah melakukan penerbitan saham baru (right issue). Sektor finance dan sektor trade, service, and investment dalam operasional berhubungan erat dengan perputaran dana. Penelitian ini bertujuan melihat perbedaan abnormal return dan trading volume activity sebelum dan sesudah pengumuman right issue pada perusahaan sektor finance dan sektor trade, service, and investment. Jenis penelitian ini adalah event study atau studi peristiwa. Teknik pengambilan sampel menggunakan purposive sampling. Sampel pada penelitian ini sebanyak 7 perusahaan sektor finance dan 10 perusahaan sektor trade, service, and investment. Pada perhitungan abnormal return menggunakan market model, dengan periode estimasi 100 hari dan 11 hari periode pengamatan. Uji hipotesis data untuk abnormal return menggunakan uji paired sample t-test dan uji hipotesis data untuk trading volume activity menggunakan uji wilcoxon signed-rank test. Hasil penelitian yang diperoleh menunjukan bahwa tidak terdapat perbedaan yang signifikan rata-rata abnormal return sektor finance sebelum dengan sesudah pengumuman right issue yang ditunjukan dengan nilai sig 0,612>0,05 dan rata-rata abnormal return sektor trade, service, and investment sebelum dengan sesudah pengumuman right issue yang ditunjukan dengan nilai sig 0,365>0.05. Kemudian pengujian trading volume activity menunjukan terdapat perbedaan rata-rata trading volume activity sebelum dengan sesudah pengumuman right issue dengan nilai sig. 0,028<0,05 untuk sektor finance dan nilai sig 0,047<0,05 untuk sektor trade, service, and investment. Kata kunci : Abnormal Return, Rights Issue, Sektor Finance, Sektor Trade Service and Investment , Trading Volume Activity. iii ABSTRACT Every company needs capital, be it a large or small company. The most classic difficulty that companies have in business activities lies in capital, capital is used by the company to meet liquidity needs, debt repayments or business development (expansion). Efforts that companies can take public in seeking sources of funding are issuing new shares (rights issues). The finance sector and the sectors trade, service, and investment in operations are closely related to the turnover of funds. This study aims to see the differences in abnormal returns and trading volume activity before and after the announcement of the rights issue in sector companies finance and sector companies trade, service, and investment. This type of research is an event study . The sampling technique used purposive sampling. The samples in this study were 7 companies in the sector finance and 10 companies in the sector trade, service, and investment. In calculating the abnormal return using the market model, with an estimated period of 100 days and 11 days of observation period. Hypothesis testing data for abnormal returns using paired sample t-test and data hypothesis testing for trading volume activity using the Wilcoxon signed-rank test. The results obtained show that there is no significant difference in the average abnormal return in the sector finance before and after the announcement of the rights issue, which is indicated by a sig value of 0.612> 0.05 and the average abnormal return of the sectors trade, service, and investment before and after announcement of the right issue which is indicated by a sig value of 0.365> 0.05. Then thetest trading volume activity shows that there is a difference in the average trading volume before and after the announcement of the right issue with a sig. 0.028 <0.05 for the sector finance and a sig value of 0.047 <0.05 for the sector trade, service, and investment. Keywords: Abnormal Return, Rights Issue, Sector Finance, Sector Trade Services and Investment, Trading Volume Activity

Item Type: Thesis (Undergraduate)
Subjects: Perbankan Syariah
Divisions: Fakultas Ekonomi dan Bisnis Islam > Perbankan Syariah
Depositing User: LAYANAN PERPUSTAKAAN UINRIL REFERENSI
Date Deposited: 10 Mar 2022 02:12
Last Modified: 10 Mar 2022 02:12
URI: http://repository.radenintan.ac.id/id/eprint/18356

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