PERBEDAAN RETURN DAN RISIKO SAHAM AKIBAT PENGARUH STOCKSPLIT (Analisis Pada Sektor Perbankan dan Sektor Asuransi yang Listing di Bursa Efek Jakarta)

AULIA RAHMAH

Abstract


Stocksplit is a dividend policy which causes the change of stock face value and also increases the quantity of stock revolves, in which those changes happen proporsionally appropriate with split factor.
The purposes of this research are to know the difference of stock return and stock risk before and after stocksplit, and difference influence of stocksplit toward stock return and stock risk in two business sectors, they are banking and insurance sector.
Hypothesis from this research are :
1.There is a difference between stock return before stocksplit and stock return after stocksplit.
2.There is a difference between stock risk before stocksplit and stock risk after stocksplit.
3.There is a different influence of stocksplit at stock return of banking sector and stock return of insurance sector.
4.There is a different influence of stocksplit at stock return of banking sector and stock return of insurance sector.
This research is empirical research to examine a hypothesis using data collecting method through documentation from JSX Corner in Economy Faculty at Brawijaya University of Malang. From 35 go public companies wich doing stocksplit at 2001 until 2003 periode, it is decided to take eight companies sample consist of four companies of banking sector and four companies of insurance sector.
The hypothesis examination is made by using non parametric differential test, Wilcoxon Matches-Pairs Signed Rank Test examine with software SPSS for Windows Versi 11.0 program. Data analysis is completed with data normalitas test using Kolmogorov-Smirnov Goodness of Fit-Test.
The research result are indicate that the stocksplit policy does not have significant influence towards difference of stock return and stock risk along stocksplit event periode. Besides, stocksplit policy also does not give a different influence at stock return of banking sector and insurance sector. On the contrary, stocksplit gives a significant influence towards the difference of stock risk of banking sector with insurance sector.

 

Keyword : Stocksplit; Return; Risiko; Perbankan; Asuransi

 

Link Terkait : http://skripsi.umm.ac.id/files/disk1/38/jiptummpp-gdl-s1-2005-auliarahma-1887-Pendahul-n.pdf


Keywords


Stocksplit; Return; Risiko; Perbankan; Asuransi