ANALISIS ABNORMAL RETURN DAN LIKUIDITAS SAHAM SEBELUM DAN SESUDAH PENGUMUMAN AKUISISI : Studi pada Perusahaan Pengakuisisi yang Terdaftar di BEI Tahun 2011-2015

• Main Author: Karlina, Nia (Author)
• Format: Book
• Published: 2017-02-28.
• Subjects: Thesis; NonPeerReviewed
• Online Access: Link Metadata
• Notes: http://repository.upi.edu/28905/1/S_PEM_1305893_Title.pdf; http://repository.upi.edu/28905/2/S_PEM_1305893_Abstract.pdf; http://repository.upi.edu/28905/3/S_PEM_1305893_Table_of_Content.pdf; http://repository.upi.edu/28905/4/S_PEM_1305893_Chapter1.pdf; http://repository.upi.edu/28905/5/S_PEM_1305893_Chapter2.pdf; http://repository.upi.edu/28905/6/S_PEM_1305893_Chapter3.pdf; http://repository.upi.edu/28905/7/S_PEM_1305893_Chapter4.pdf; http://repository.upi.edu/28905/8/S_PEM_1305893_Chapter5.pdf; http://repository.upi.edu/28905/9/S_PEM_1305893_Bibliography.pdf; http://repository.upi.edu/28905/10/S_PEM_1305893_Appendix1.pdf; http://repository.upi.edu/28905/11/S_PEM_1305893_Appendix2.pdf
• Keywords: HB Economic Theory; HD Industries. Land use. Labor; HD28 Management. Industrial Management; L Education (General)

Akuisisi merupakan salah satu cara yang digunakan perusahaan untuk lebih mengembangkan bisnisnya. Akuisisi juga merupakan informasi yang penting bagi para pemegang saham. Pengumuman akuisisi yang dikeluarkan oleh suatu perusahaan akan mempengaruhi harga saham dan volume perdagangan perusahaan pengakuisisi. Dampak pengumuman akuisisi ini dapat diukur dengan menggunakan abnormal return dan likuiditas saham. Tujuan penelitian ini adalah untuk menganalisis perbedaan abnormal return dan likuiditas saham sebelum dan sesudah pengumuman akuisisi. Pengukuran abnormal return menggunakan market-adjusted model. Pengukuran likuiditas saham menggunakan trading volume activity. Periode pengamatan penelitian ini selama 5 hari sebelum dan 5 hari sesudah pengumuman akuisisi. Sampel penelitian ini adalah 28 perusahaan sampel yang mengumumkan akuisisi tahun 2011-2015. Data Abnormal Return terdistribusi normal. Hasil uji Paired Sample T Test menunjukkan bahwa tidak terdapat perbedaan Abnormal Return sebelum dan sesudah pengumuman akuisisi. Data Trading Volume Activity tidak terdistribusi dengan normal. Hasil uji Wilcoxon Signed Rank Test menunjukkan bahwa terdapat perbedaan likuiditas saham sebelum dan sesudah pengumuman akuisisi.----------Acquisition is one of the method used by the company in order to be more developed in business. Acquisitions are important things for shareholders. An acquisition announcement issued by a company will affect to stock price and trading volume of the acquirer companies. The impact of acquisition announcement will measured with Abnormal Return and Stock Liquidity. The purpose of this research is to analyze the difference of abnormal return and stock liquidity before and after the announcement of acquisitions. Abnormal returns are measured with market-adjusted model. Stock liquidity are measured with trading volume activity. Event windows of this research is 5 days before and 5 days after the announcement of acquisitions. Research sample consists of 28 companies sample which announce acquisition at 2011 - 2015. The data Abnormal Return to be distributed in nomal. The results of Paired Sample T Test showed that there is not differences of abnormal returns before and after the announcement of acquisition. The data Trading Volume Activity to not be distributed in nomal. The results of Wilcoxon Signed Rank Test showed that there is differences of stock liquidity before and after the announcement of acquisition.