Pengaruh Pengumuman Pergantian Ceo Terhadap Return Saham di Indonesia

• Main Authors: , Ario Adi Nugroho, , Prof. Dr. Zaki Baridwan, M.sc., Akt.
• Format: Theses and Dissertations NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2013
• Subjects: ETD
• 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
• Institution: Universitas Gadjah Mada

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