Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS
Abstract This study aims to investigate the market’s reaction to the announcement of a stock buyback policy without the authorization of Annual General Meeting (AGM), as evidenced by abnormal returns within the window periods. A paired sample t-test was applied to compare the abnormal return before...
| Main Authors: | , |
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| Format: | Article |
| Language: | Indonesian |
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Universitas Negeri Malang
2021-07-01
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| Series: | Jurnal Akuntansi Aktual |
| Subjects: | |
| Online Access: | http://journal2.um.ac.id/index.php/jaa/article/view/22315 |
| _version_ | 1818880983394418688 |
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| author | Serly Calista Asiali Bety Nur Achadiyah |
| author_facet | Serly Calista Asiali Bety Nur Achadiyah |
| author_sort | Serly Calista Asiali |
| collection | DOAJ |
| description | Abstract
This study aims to investigate the market’s reaction to the announcement of a stock buyback policy without the authorization of Annual General Meeting (AGM), as evidenced by abnormal returns within the window periods. A paired sample t-test was applied to compare the abnormal return before and after the announcement of the share buyback by Otoritas Jasa Keuangan (OJK) policy. The results show that there are no significant difference in abnormal return before and after the announcement. However, the market still responds to this information as can be observed by the difference in the average abnormal return. It demonstrates that the announcement of the stock buyback scheme without AGM authorization still provides information.
Abstrak
Penelitian ini bertujuan untuk melihat dampak pengumuman buyback saham tanpa persetujuan Rapat Umum Pemegang Saham (RUPS) di pasar modal yang ditunjukkan oleh keberadaan abnormal return selama window period. Uji paired sample t-test digunakan untuk membandingkan abnormal return sebelum dan sesudah peristiwa diumumkannya kebijakan buyback saham oleh Otoritas Jasa keuangan (OJK). Hasil uji tersebut menunjukkan bahwa tidak terdapat perbedaan abnormal return yang signifikan sebelum dan sesudah pengumuman kebijakan buyback saham tanpa persetujuan RUPS. Namun demikian, pasar tetap merespon informasi tersebut dengan adanya perbedaan rata-rata abnormal return. Hal ini mengindikasikan bahwa pengumuman buyback saham tanpa persetujuan RUPS memiliki kandungan informasi. |
| first_indexed | 2024-12-19T14:54:38Z |
| format | Article |
| id | doaj.art-3c94c80816284d88bd356aca9c115aab |
| institution | Directory Open Access Journal |
| issn | 2087-9695 2580-1015 |
| language | Indonesian |
| last_indexed | 2024-12-19T14:54:38Z |
| publishDate | 2021-07-01 |
| publisher | Universitas Negeri Malang |
| record_format | Article |
| series | Jurnal Akuntansi Aktual |
| spelling | doaj.art-3c94c80816284d88bd356aca9c115aab2022-12-21T20:16:45ZindUniversitas Negeri MalangJurnal Akuntansi Aktual2087-96952580-10152021-07-018214915610.17977/um004v8i22021p1497632Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPSSerly Calista Asiali0Bety Nur Achadiyah1Universitas Negeri Malang(Scopus ID: 57188971043), Universitas Negeri MalangAbstract This study aims to investigate the market’s reaction to the announcement of a stock buyback policy without the authorization of Annual General Meeting (AGM), as evidenced by abnormal returns within the window periods. A paired sample t-test was applied to compare the abnormal return before and after the announcement of the share buyback by Otoritas Jasa Keuangan (OJK) policy. The results show that there are no significant difference in abnormal return before and after the announcement. However, the market still responds to this information as can be observed by the difference in the average abnormal return. It demonstrates that the announcement of the stock buyback scheme without AGM authorization still provides information. Abstrak Penelitian ini bertujuan untuk melihat dampak pengumuman buyback saham tanpa persetujuan Rapat Umum Pemegang Saham (RUPS) di pasar modal yang ditunjukkan oleh keberadaan abnormal return selama window period. Uji paired sample t-test digunakan untuk membandingkan abnormal return sebelum dan sesudah peristiwa diumumkannya kebijakan buyback saham oleh Otoritas Jasa keuangan (OJK). Hasil uji tersebut menunjukkan bahwa tidak terdapat perbedaan abnormal return yang signifikan sebelum dan sesudah pengumuman kebijakan buyback saham tanpa persetujuan RUPS. Namun demikian, pasar tetap merespon informasi tersebut dengan adanya perbedaan rata-rata abnormal return. Hal ini mengindikasikan bahwa pengumuman buyback saham tanpa persetujuan RUPS memiliki kandungan informasi.http://journal2.um.ac.id/index.php/jaa/article/view/22315ojk policybuybackabnormal returnannual general meetingkebijakan ojkrapat umum pemegang saham. |
| spellingShingle | Serly Calista Asiali Bety Nur Achadiyah Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS Jurnal Akuntansi Aktual ojk policy buyback abnormal return annual general meeting kebijakan ojk rapat umum pemegang saham. |
| title | Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS |
| title_full | Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS |
| title_fullStr | Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS |
| title_full_unstemmed | Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS |
| title_short | Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS |
| title_sort | reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan rups |
| topic | ojk policy buyback abnormal return annual general meeting kebijakan ojk rapat umum pemegang saham. |
| url | http://journal2.um.ac.id/index.php/jaa/article/view/22315 |
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