Pengaruh Pengumuman Pergantian Ceo Terhadap Return Saham di Indonesia
The research was conducted in order to obtain empirical evidence related to the effect of CEO change announcements on stock returns of listed companies in Indonesia Stock Exchange. Samples were selected using purposive sampling method and obtained 17 samples during the period of August 1, 2007 until...
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Main Authors: | , |
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Format: | Theses and Dissertations NonPeerReviewed |
Published: |
[Yogyakarta] : Universitas Gadjah Mada
2013
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Subjects: | |
Online Access: | https://repository.ugm.ac.id/118247/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=58191 |
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Institution: | Universitas Gadjah Mada |
Summary: | The research was conducted in order to obtain empirical evidence related to
the effect of CEO change announcements on stock returns of listed companies in
Indonesia Stock Exchange. Samples were selected using purposive sampling
method and obtained 17 samples during the period of August 1, 2007 until July
31, 2012. This study uses Security Return Variability (SRV) to examine the
content of the information contained in the announcement of CEO change. The
study also ensures that no information is leaked before the announcement of CEO
change.
Hypothesis testing is performed using the t test, by comparing the t-value
with a t-table. Testing the hypothesis with t test obtained results that show that
CEO change announcement, the non-routine CEO change announcement, CEO
change announcements inside and CEO change announcements outside have
effect on share returns. Meanwhile, the test results also show that routine CEO
change announcements have no influence on stock returns. Based on the test
results it can be concluded that the hypothesis of the first, third, fourth, and fifth
in the study were received. Meanwhile, the second hypothesis in this study was
rejected.
This study has limitations, namely: using the estimated period of 30 days |
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