ANALISIS KANDUNGAN INFORMASI DAN EFEK INTRA INDUSTRI PENGUMUMAN STOCK SPLIT YANG DILAKUKAN OLEH PERUSAHAAN BERTUMBUH DAN TIDAK BERTUMBUH

https://doi.org/10.22146/jieb.6562

Luciana Spica Almilia(1*), Emanuel Kristijadi(2)

(1) STIE PERBANAS Surabaya
(2) STIE PERBANAS Surabaya
(*) Corresponding Author

Abstract


The objective of this research is to examine empirically about the information content
and intra industry effect of stock split announcement. The analysis include three aspects:
information content, risk (beta) and intra industry effect of stock split announcement by
growth firm and not growth firm.
The sample of this research is 79 reporter firm (consist of 59 growth firm and 20 not
growth firm) and 166 non reporter firms during the period of 1997 – 2002. The result of
this research show that stock split has information content which is negatively respondend
and statistically significant responded by the market around the date of stock split
announcement. The difference between beta growth firms and not growth firms after stock
split announcement is significant. The intra industry effect of stock split announcement is
competitive effect.

Keywords: stock split, intra industry effect, competitive effect, information content





DOI: https://doi.org/10.22146/jieb.6562

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