KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIA
The study addressed to: (1) investigated the market reaction toward right issue announcement;(2) gave an empirical evidence of association of stock market reaction with firm’s operational performance in the future; (3) examined specific variables of right issue s that might explain the reaction of t...
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| Format: | Article |
| Language: | English |
| Published: |
Muhammadiyah University Press
2005-12-01
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| Series: | Benefit Jurnal Manajemen dan Bisnis |
| Subjects: | |
| Online Access: | http://journals.ums.ac.id/index.php/benefit/article/view/1195 |
| _version_ | 1819274979950198784 |
|---|---|
| author | Etty Indriani |
| author_facet | Etty Indriani |
| author_sort | Etty Indriani |
| collection | DOAJ |
| description | The study addressed to: (1) investigated the market reaction toward right issue announcement;(2)
gave an empirical evidence of association of stock market reaction with firm’s operational performance in
the future; (3) examined specific variables of right issue s that might explain the reaction of the stock
market at the announcement and the operational performance of firms in the future. Result shows that
the Indonesian stock market gave negative reaction on the third and fourth days after the right issue
announcement. So the stock market had late caught the information. Further, the firms did the right
issue s gained higher operating performance level in the second and third year than average level in the
terms of firm operating performance in the same industry that did not do the right issue . The changes of
firm’s operating performance in the future tend to the positive change. The issue-price was the specific
variable of the right issue that influenced positively on the abnormal return. Meanwhile, the issue-price
negatively affected on the future firm’s operating performance. In the empirical evidence equity right issue
s, the stock market reaction might to anticipate the change of the future firm’s operating performance
through the specific variable issue-price with opposite direction |
| first_indexed | 2024-12-23T23:17:02Z |
| format | Article |
| id | doaj.art-4cc5e17a4a3e4c43b6ef4a38b00130a8 |
| institution | Directory Open Access Journal |
| issn | 1410-4571 2541-2604 |
| language | English |
| last_indexed | 2024-12-23T23:17:02Z |
| publishDate | 2005-12-01 |
| publisher | Muhammadiyah University Press |
| record_format | Article |
| series | Benefit Jurnal Manajemen dan Bisnis |
| spelling | doaj.art-4cc5e17a4a3e4c43b6ef4a38b00130a82022-12-21T17:26:29ZengMuhammadiyah University PressBenefit Jurnal Manajemen dan Bisnis1410-45712541-26042005-12-0182189200958KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIAEtty Indriani0Sekolah Tinggi Ilmu Ekonomi-AUB SurakartaThe study addressed to: (1) investigated the market reaction toward right issue announcement;(2) gave an empirical evidence of association of stock market reaction with firm’s operational performance in the future; (3) examined specific variables of right issue s that might explain the reaction of the stock market at the announcement and the operational performance of firms in the future. Result shows that the Indonesian stock market gave negative reaction on the third and fourth days after the right issue announcement. So the stock market had late caught the information. Further, the firms did the right issue s gained higher operating performance level in the second and third year than average level in the terms of firm operating performance in the same industry that did not do the right issue . The changes of firm’s operating performance in the future tend to the positive change. The issue-price was the specific variable of the right issue that influenced positively on the abnormal return. Meanwhile, the issue-price negatively affected on the future firm’s operating performance. In the empirical evidence equity right issue s, the stock market reaction might to anticipate the change of the future firm’s operating performance through the specific variable issue-price with opposite directionhttp://journals.ums.ac.id/index.php/benefit/article/view/1195the ability of stocks marketfirm’s operational performanceright issue |
| spellingShingle | Etty Indriani KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIA Benefit Jurnal Manajemen dan Bisnis the ability of stocks market firm’s operational performance right issue |
| title | KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIA |
| title_full | KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIA |
| title_fullStr | KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIA |
| title_full_unstemmed | KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIA |
| title_short | KEMAMPUAN PASAR MODAL DALAM MENGANTISIPASI KINERJA OPERASIONAL PERUSAHAAN DI MASA DATANG: DALAM KONTEKS EQUITY RIGHT ISSUE DI INDONESIA |
| title_sort | kemampuan pasar modal dalam mengantisipasi kinerja operasional perusahaan di masa datang dalam konteks equity right issue di indonesia |
| topic | the ability of stocks market firm’s operational performance right issue |
| url | http://journals.ums.ac.id/index.php/benefit/article/view/1195 |
| work_keys_str_mv | AT ettyindriani kemampuanpasarmodaldalammengantisipasikinerjaoperasionalperusahaandimasadatangdalamkonteksequityrightissuediindonesia |