Bonus Share Issues and Announcement Effect in Indonesia Stock Exchange

Ani Pinayani

2017

Abstract

The purpose of this study is to find out the bonus effect of stock announcement events on stock trading volume and stock returns in Indonesia Stock Exchange (IDX). The research method used in this study is event study. The research population consisted of companies that made the announcement of bonus shares for the period January 2001 - January 2013, the research sample was selected from 23 companies by using purposive sampling technique. Data analysis techniques to test the hypothesis using t-test with One-Sample Test, Paired-Sample Test and One-Way Anova Test. The result of the research shows that (1) The announcement of bonus shares has no effect the stock trading volume; (2) The announcement of bonus shares has no effect the stock returns; (3) The average value of trading volume of shares prior to the announcement of bonus shares is equal to after the announcement of bonus shares; (4) The average return value of shares prior to the announcement of bonus shares is equal to after the announcement of bonus shares; (5) The average value of stock trading volume is relatively the same among each industry sector that has announced bonus shares; (6) The average value of stock returns is relatively the same among each industry sector that has announced bonus shares.

Paper Citation

in Harvard Style

Pinayani A. (2017). Bonus Share Issues and Announcement Effect in Indonesia Stock Exchange.In Proceedings of the 2nd International Conference on Economic Education and Entrepreneurship - Volume 1: ICEEE, ISBN 978-989-758-308-7, pages 105-109. DOI: 10.5220/0006881401050109

in Bibtex Style

@conference{iceee17,
author={Ani Pinayani},
title={Bonus Share Issues and Announcement Effect in Indonesia Stock Exchange},
booktitle={Proceedings of the 2nd International Conference on Economic Education and Entrepreneurship - Volume 1: ICEEE,},
year={2017},
pages={105-109},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0006881401050109},
isbn={978-989-758-308-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 2nd International Conference on Economic Education and Entrepreneurship - Volume 1: ICEEE,
TI - Bonus Share Issues and Announcement Effect in Indonesia Stock Exchange
SN - 978-989-758-308-7
AU - Pinayani A.
PY - 2017
SP - 105
EP - 109
DO - 10.5220/0006881401050109