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Jurnal

Jurnal Keuangan dan Perbankan

Keyword

KEYWORD : competitice effects, contagion effects, dividend, information content, intra industry effect.

Pengarang

  1. Emrinaldi Nur DP
  2. St. Dwiarso Utomo
  3. Enny Sulistyowati Mardjono

    Subject

    1. FINANCE
    2. BANKING

      [Abstrak]

       


      ABSTACT :



      The influence of information not ony for company it
      self which announcement company policy like financial statement, dividend or
      others, but also the other company in same industry or same market. The purpose
      of the reserch was to investigate the information content and intra industry
      effect of dividend announcement. The analysis include four aspects :
      information content, risk (beta), intra industry effect of dividen by big and
      small size firm, and impact firm characteristics to abnormal return nonreporter
      firm. The analysis for information content, risk (beta), intra industry effect
      used event study and for impact of firm characteristics used multiple linier
      regressions. Result of this research showed that there was information content
      arround the date of dividend announcement, but there was no difference between
      abnormal return by big and small size firm. The difference between beta before
      and after dividend announcement is not significant. The difference between beta
      big size firms and small size firm after dividend announcement is not
      significant. The intra industry effect of dividend announcement showed abnormal
      return with two effects : competitive effect and contagion effect. The firm
      specific characteristic used in this research were not significant to explain
      the fenomena intra industry

      Periode

      Vol 17, Nomor 03, Tahun 2013

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