Analisis Faktor Yang Mempengaruhi Cumulative Abnormal Return Pada Event Right Issue Perusahaan Yang Terdaftar Dalam Bursa Efek Indonesia Periode 2014 – 2018

Garbani, Rafael Radite (2019) Analisis Faktor Yang Mempengaruhi Cumulative Abnormal Return Pada Event Right Issue Perusahaan Yang Terdaftar Dalam Bursa Efek Indonesia Periode 2014 – 2018. Other thesis, UNIKA SOEGIJAPRANATA SEMARANG.

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Abstract

This study aims to determine which factor that influence cumulative abnormal return in rights issue event. Cumulative abnormal return is the difference between market index’s prices changes and corporate stock price changes that occurs at one exchange time which it’s value combined within a period of several days. By knowing cumulative abnormal return value it’s will able to know how investors response to rights issue events. There are several factor that influence cumulative abnormal return in right issue event, in this study will be focused on 5 main factor which are growth opportunities, issue size, leverage, ownership concentration, and subscription price discount. There are 87 companies that became the study sample which is a listed company on the Indonesia Stock Exchange and implemented a rights issue in the period 2014 – 2018. The hypothesis testing of the study was conducted using multiple linear regression tests which concludes as follows: 1. Growth opportunities variable do not affect the cumulative abnormal return in rights issue events; 2. Issue size variable affect positively the cumulative abnormal return in rights issue events; 3. Leverage variable do not affect the cumulative abnormal return in rights issue events; 4. Ownership concentration variable do not affect the cumulative abnormal return in rights issue events; 5. Subscription price discount variable do not affect the cumulative abnormal return in rights issue events. Keyword: cumulative abnormal return, right issue, corporate action, information asymmetry, growth opportunities, issue size, leverage, ownership concentration, subscription price discount.

Item Type: Thesis (Other)
Subjects: 300 Social Sciences > 330 Economics > Financial Economics > Stock Exchange
Divisions: Faculty of Economics and Business > Department of Accounting
Depositing User: Mr Lucius Oentoeng
Date Deposited: 22 Nov 2019 01:46
Last Modified: 22 Nov 2019 01:46
URI: http://repository.unika.ac.id/id/eprint/20218

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