Stock Price Behaviour around the Announcement Date of Cash Dividend on the Indonesia Stock Exchange

Mujilan, Agustinus (2022) Stock Price Behaviour around the Announcement Date of Cash Dividend on the Indonesia Stock Exchange. Stock Price Behaviour around the Announcement Date of Cash Dividend on the Indonesia Stock Exchange, 24 (1). pp. 10-23. ISSN pISSN 1411-0288, eISSN 2338-8137, Jurnal Nasional Terakreditasi Sinta 2

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Abstract

This study aims to explain the stock prices behavior around the announcement date of cash dividends. The study compares the stock prices a week before the cumulative date, cumulative date, record date, a week after the record date, and two weeks after the record date. The stock prices are also compared to the cash dividends nominals in 2017 and cash dividends in 2018. The researcher obtains the research data from LQ45 companies in 2018. The data is tested using the Wilcoxon Signed-Ranks Test. The results show that the date of announcement and recording of dividends do not have an impact on the increase in stock prices, but the result shows a decline in stock prices. The results of this study imply that the announcement of cash dividends does not trigger stock buying action around the announcement date for the companies who distribute cash dividends.

Item Type: Article
Additional Information: Jurnal Nasional Terakreditasi Sinta 2
Uncontrolled Keywords: Cash dividend; dividend distribution; stock price; stock price behavior; efficiency market.
Subjects: Widya Mandala Catholic University on Madiun Campus > Faculty of Business
Divisions: Journal Publication
Depositing User: F.X. Hadi
Date Deposited: 03 Aug 2022 05:57
Last Modified: 03 Aug 2022 05:57
URI: http://repository.ukwms.ac.id/id/eprint/31820

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