Analisis Dampak Pengumuman Right Issue Terhadap Return Saham di Perusahaan Manufaktur Dalam Bursa Efek Indonesia

Abstract

This study aims to determine the impact of the rights issue announcements on stock returns of manufacturing companies listed in Indonesia Stock Exchange. Based on the results of the study are expected to be used as basis for consideration or investment decision because it can measure the company's ability to generate returns on investments made in the company. Testing the hypothesis in this study using a different test analysis with one sample t test and paired t test. This study is a population of companies listed on the Indonesia Stock Exchange (IDX) totaling 146 companies. While the sample in this study are 18 companies listed in Indonesia Stock Exchange (BEI) with purposive sampling as a sampling technique. Based on the survey results revealed that there was no difference in the value of stock returns manufacturing companies in Indonesia Stock Exchange in 2008-2012 before and after the announcement of the rights issue, this suggests that the announcement of the rights issue does not have a significant impact on stock returns of manufacturing companies in Indonesia Stock Exchange. So the hypothesis that the announcement of the rights issue have a significant impact on stock returns for companies listed on the Indonesia Stock Exchange is not proven true.