Institusion
Universitas Katolik Musi Charitas
Author
Kembaren, David Evan Sembiring
Subject
H Social Sciences (General)
Datestamp
2021-12-14 05:15:42
Abstract :
Right Issue or also called Preemptive Rights (ER) is the company's policy
to increase the number of shares outstanding. This study aims to analyze the
market reaction to the announcement of the rights issue, by observing abnormal
return and the security return variability. The study population was all companies
listed on the Indonesia Stock Exchange (IDX) 2009-2011. Samples determined by
purposive sampling method, as the number of samples obtained was 36
companies. Data were tested using paired sample test (paired samples). The
results showed that, prior to the announcement abnormal return is not different
from the abnormal return on the day of the announcement, abnormal returns after
the announcement is no different with the abnormal return on the day of the
announcement, abnormal returns after the announcement date abnormal return is
no different from before the date of the announcement, SRV before date
announcement is no different with SRV during the announcement, SRV after the
date of the announcement is no different from the time of the announcement SRV,
SRV after the announcement date different from the SRV before the
announcement date.