Parmono Hadi, Teguh and Murdiyanto, Agus
ANALISIS KECANGGIHAN INVESTOR TERHADAP KETEPATAN REAKSI PASAR DALAM MERESPON PENGUMUMAN DIVIDEN MENINGKAT.
Hasil Penelitian.
Abstract
This research has purpose to analyze the ability of investor to accuracy of market
reaction to respon announcement of increasing dividend at Indonesian Stock Exchange.
This research also examine dividend information indication and accuracy of market
reaction. The variable which is used to see market reaction is abnormal return, in are
side the ability of investor is promoted by stock holder in institution.
The sample which is used in this research is all companies which are registrated in
Indonesian Stock Exchange is chosen by sampling purpose method since 2009-2011 it is
got 78 sample of company. This result of research show that increasing dividend
announcement doesn’t have information indication, investor is not correct to respond
decreasing dividend market announcement or Indonesian Stock Exchange has been
efficient in information or in all decisions, and there is not effect or impact from analyze
of ability investor toward the accuracy of market reaction to respond increasing dividend
announcement.
Keywords :Dividend increase, information content, decisionaly efficient market, Investor
shopistication, Institution ownership
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