ANALISIS PERBEDAAN REAKSI PASAR SEBELUM DAN SESUDAH PENGUMUMAN ANNUAL REPORT AWARD (ARA)

Anita Sabrina

Abstract


This research is title ? Analysis of market reaction before and after announcement of Annual Report Award (ARA). Purpose of study is to analysis market reaction for announcement of Annual Report Award (ARA) 2007 on August 12, 2008. Analysis of market reaction difference before and after Annual
Report Award (ARA) is doing with observation for abnormal return for fire days before and after announcement. It is because an efficient market with information or on depends abnormal return result. Abnormal return is counted to use mean-adjust model. The sample that used this research is company as winner Annual Report Award (ARA) 2007 which
goes public. Purposive sampling is used to get the research sample. There are 11 companies as winner Annual Report Award (ARA) from 19 companies which goes public. Hypothesis which is used this research is that there is significant market
reaction difference statistic go-public company before and after announcement of Annual Report Award (ARA).
This research is descriptive statistic to know illustration difference of market reaction before and after Annual Report Award (ARA) announcement to know what is there significant difference, used paired sample t-test. From descriptive statistic result is know that the average of abnormal return after ARA
announcement is more bottom than before ARA announcement paired sample ttest show that there is not significant difference. Base on result can be concluded that ARA announcement doest not have information and to be no responded by market as taking basic investment.

 

Keyword : Reaksi pasar, abnormal return, Annual Report Award (ARA)

 

Link Terkait : http://skripsi.umm.ac.id/files/disk1/341/jiptummpp-gdl-s1-2009-anitasabri-17013-Pendahul-n.pdf


Keywords


Reaksi pasar; abnormal return; Annual Report Award (ARA)