Open AccessREAKSI PASAR TERHADAP PERISTIWA RIGHT ISSUE DI BURSA EFEK INDONESIA
Author(s) -
Steven Christianto,
Ida Bagus Anom Purbawangsa
Publication year - 2022
Publication title -
e-jurnal manajemen
Language(s) - English
Resource type - Journals
ISSN - 2302-8912
DOI - 10.24843/ejmunud.2022.v11.i02.p10
Subject(s) - wilcoxon signed rank test , stock exchange , nonprobability sampling , abnormal return , nonparametric statistics , sample (material) , business , accounting , stock (firearms) , test (biology) , financial economics , economics , econometrics , finance , economic growth , engineering , demography , mechanical engineering , paleontology , population , chemistry , chromatography , sociology , curriculum , biology
A rights issue is a limited public offering activity to current investors to give preemptive rights. The purpose of this study is to determine the market reaction to the rights issue as measured by abnormal returns and trading volume activity using. 52 companies used as sample that carried out corporate rights issues in 2018-2019 listed on the Indonesia Stock Exchange usingt with purposive sampling. Data collection was done by observing and recording data from reports and archives from several sources, analyzed using normality test and hypothesis testing using the nonparametric Wilcoxon signed rank test tool. The results show that the announcement of the rights issue has a significant impact on abnormal returns. Rights issue announcements also have a significant effect on trading volume activity.
Keywords: Right Issue, Abnormal Return, Trading Volume Activity