Electronic Theses and Dissertation

Abstract the purpose of this research is to verify the influence dividend payment announcement and right issue toward the abnormal return. the examine was done to find out the difference abnormal return before and after the dividend announcement and right issue. if the dividend payment announcement and right issue contains informations then market will react. research sample is determined by the sensus method. there are 30 companies wich announce announcement payment dividend and right issue between 2009, 2010, 2011, 2012, 2013. the statistical experiment used is t-test experiment (paired sample test).the observatioin was done in 11 days, consist of 5 days before and 5 days after the dividend payment announcement and right issue. the results of this study showed that there was no significant difference in abnormal return before and after dividend payment announcement and right issue. it means that dividend payment announcement and right issue have no information content, so the market has gived no reaction, because the dividend payment announcement and right issue can’t give the positive signal information. so it was concluded, that dividend payment announcement and right issue are not significantly influential toward abnormal return. keywords: abnormal return, dividend payment announcement and right issue x abstrak penelitian ini bertujuan untuk menguji pengaruh pengumuman pembayaran dividen dan right issue terhadap abnormal return. pengujian dilakukan dengan melihat perbedaan abnormal return sebelum dan sesudah pengumuman pembayaran dividen dan right issue. apabila pengumuman pembayaran dividen dan right issue memiliki kandungan informasi maka pasar akan bereaksi. penentuan sampel dilakukan dengan metode sensus. terdapat 30 perusahaan yang melakukan pengumuman pembayaran dividen dan right issue pada tahun 2009, 2010, 2011, 2012, 2013. percobaan statistik yang digunakan adalah t-test (paired sample test). pengamatan dilakukan selama 11 hari, yaitu 5 hari sebelum dan 5 hari sesudah pengumuman pembayaran dividen dan right issue. hasil penelitian menujukkan bahwa tidak terdapat perbedaan yang signifikan antara abnormal return sebelum dan sesudah pengumuman pembayaran dividen dan right issue. hal ini berarti bahwa pengumuman pembayaran dividen dan right issue tidak memiliki kandungan informasi, sehingga pasar tidak memberikan reaksi. karena pengumuman pembayaran dividen dan right issue tidak dapat memberikan informasi. jadi, dapat disimpulkan bahwa pengumuman pembayaran dividen dan right issue tidak memiliki pengaruh terhadap abnormal return. kata kunci: abnormal return, pengumuman pembayaran dividen dan right issue