FEBRIANI, WINDA (2017) ANALISIS REAKSI PASAR ATAS PENGUMUMAN AKUISISI PADA HARGA SAHAM PERUSAHAAN AKUISITOR YANG TERDAFTAR DI BEI TAHUN 2014. S2 thesis, Universitas Mercu Buana Jakarta-Menteng.
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Abstract
The study tested the effects arising from the announcement of the acquisition of companies with abnormal return as an indicator. Acquisition is important information for shareholders. Abnormal return occurs because the ups and downs of the stock due to market reaction to the announcement of the acquisition. This research is a quantitative and descriptive research using a sample of 13 companies listed on the Stock Exchange. The sample selection using purposive sampling method to select a sample with specific criteria where the sample was not selected randomly. The study period is 2014, while the period of the event five days before and five days after the announcement of the acquisition of the normal return estimation period is from t-106 to t-5 (100 trading days prior to the observation period). The data used in this research is secondary data. The independent variables in this study is the stock return IHSG (Index Harga Saham Gabungan), while the dependent variable is the expected return (normal return). Normal return’s equation obtained from 100 days of observation. Abnormal return is the difference between the actual return to normal return. Analysis technique using the t test, which is paired samples t-test. Announcement of the acquisition is expected to give a good news for the market players to invest in the capital market. However from the test results of t-test there was no significant difference between stock returns in the period before and after the acquisition announcement because not everyone has information content. Keywords : acquisitions, stock market, abnormal return, t-test. enelitian menguji dampak yang timbul akibat pengumuman akuisisi perusahaan dengan abnormal return sebagai indikatornya. Akuisisi merupakan informasi penting bagi para pemegang saham. Abnormal return terjadi karena naik turunnya saham akibat reaksi pasar terhadap pengumuman akusisi. Penelitian ini merupakan penelitian deskriptif kuantitatif dan menggunakan sample 13 perusahaan yang terdaftar di BEI. Pemilihan sampel menggunakan metode purposive sampling yaitu memilih sampel dengan kriteria tertentu dimana sampel dipilih tidak secara acak. Periode penelitian yaitu tahun 2014 sedangkan periode peristiwanya lima hari sebelum dan lima hari sesudah pengumuman akuisisi maka periode estimasi return normal adalah mulai t-106 sampai t-5 (100 hari perdagangan sebelum periode pengamatan). Jenis data yang digunakan dalam penelitian ini adalah adalah data sekunder. Variabel bebas dalam penelitian ini adalah return saham IHSG (Index Harga Saham Gabungan), sedangkan variabel terikat adalah expected return (return normal). Persamaan normal return didapatkan dari 100 hari pengamatan. Abnormal return merupakan selisih antara actual return dengan normal return. Teknik analisis yang digunakan adalah uji t, yaitu paired sampel t-test. Pengumuman akuisisi diharapkan memberikan kabar baik bagi pelaku pasar untuk berinvestasi di Pasar Modal. Namun dari hasil pengujian t-test tidak ada perbedaan yang signifikan antara return saham pada periode sebelum dan sesudah pengumuman akuisisi karena tidak semua memiliki kandungan informasi. Kata Kunci : akuisisi, reaksi pasar, abnormal return, t-test.
| Item Type: | Thesis (S2) |
|---|---|
| Call Number CD: | CDT-551-17-090 |
| NIM/NIDN Creators: | 55113120240 |
| Uncontrolled Keywords: | acquisitions, stock market, abnormal return, t-test. akuisisi, reaksi pasar, abnormal return, t-test. MKU, manajemen keuangan |
| Subjects: | 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 658 General Management/Manajemen Umum |
| Divisions: | Pascasarjana > Magister Manajemen |
| Depositing User: | UMMI RAHMATUSSYIFA |
| Date Deposited: | 30 Mar 2022 03:24 |
| Last Modified: | 22 Jun 2022 04:17 |
| URI: | http://repository.mercubuana.ac.id/id/eprint/59063 |
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