Hubungan Pengumuman Dividen Meningkat Dengan Reaksi Pasar Modal Pada Perusahaan Manufaktur yang go public di BEJ: Pengujian Efisiensi Pasar Bentuk Setengah Kuat Secara Keputusan

Judul :	Hubungan Pengumuman Dividen Meningkat Dengan Reaksi Pasar Modal Pada Perusahaan Manufaktur yang go public di BEJ: Pengujian Efisiensi Pasar Bentuk Setengah Kuat Secara Keputusan
Pengarang :	Agung Winarno
Sumber :	Jurnal ekonomi dan manajemen
Penerbit :	Sekolah Tinggi Ilmu Ekonomi Haji Agus Salim
Tahun Terbit Artikel:	2006
Volume :	7
No :	1
Halaman :	117-127
Kata Kunci :	Dividens; Capital markets; Manufacturing industries; Going public (securities)
Abstrak :	This Research aims to recognize (1) market reaction on increasing dividend announcement by manufacture company entirely; (2) market reaction on increasing dividend announcement by manufacture company that developed; and (3) market reaction on increasing dividend announcement by manufacture company that did not develop on 2000-2004. The sample in the research includes 36 companies divided into two sub-samples, 23 developed companies and 13 grown undeveloped Companies. The method used in the research is event study, a study that is learning how a market reacts on an event that the information published as an announcement. Hypothesis testing uses t-test. The result from increasing dividend announcement shows that market did not react positively and insignificant, means that the increasing dividend announcement has nothing information for investors. The hypothesis testing on increasing dividend announcement of developed companies shows insignificant result which means that the market did not react positively. On the other hand, the hypothesis testing on increasing dividend announcement by undeveloped companies shows that the market did not react negatively. This is indicated from insignificant abnormal return cumulative.
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