Pengaruh Pengumuman Merger Bursa Efek Jakarta Dan Bursa Efek Surabaya Terhadap Harga Dan Volume Perdagangan

Maryati, Ulfi (2012) Pengaruh Pengumuman Merger Bursa Efek Jakarta Dan Bursa Efek Surabaya Terhadap Harga Dan Volume Perdagangan. JURNAL AKUNTANSI & MANAJEMEN, 7 (1). pp. 15-29. ISSN 1858-3687

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Abstract

The aim of this paper is to investigate the effect of Jakarta Stock Exchange (JSX) and Surabaya Stock Exchange (SSX) merger announcement on abnormal return (AR) and trading volume activity (TVA). The announcement consists of three event dates: (1) SSX Extraordinary General Meeting of Shareholders agreed to merge with JSX on Desember 6 th, 2006, (2) signing the agreement of merger of SSX and JSX at Annual General Meeting of Shareholders on October 30, 2007, and (3) the first day operational of Indonesia Stock Exchange on Desember 3rd 2007. Our samples consist of 45 LQ-45 firms. The event window of the research is 11 days (t-5, t-0, and t+5) and 5 days (t-2, t-0, and t+2). The results using either 5 trading days or 11 trading days event window show that the market give a positive reaction (there is significant increase in AR and TVA after event date compared to before event date) regarding the merger announcement between SSX and JSX.

Item Type:Article
Subjects:C Social Sciences > CF Commerce > CF1 Accounting
Divisions:Jurusan Akuntansi > Prog.Studi Akuntansi-D3 > Jurnal/Karya Ilmiah
ID Code:447
Deposited By:Mr. OP Repo-2 Puskom
Deposited On:02 Nov 2016 08:13
Last Modified:08 Nov 2016 15:42

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