EX-DIVIDEND DATE DAN PERUBAHAN HARGA SAHAM

Novriyanthi Taungke, S Supramono

Abstract


The aim of this study is to analyze whether the stock prices decrease at ex-dividend date in Indonesia Stock Exchange (IDX) that is determined by amount of dividend drop-off ratio (DDR). This study also attempts to investigate the differences the stock prices decrease at ex-dividend date based on Investment Opportunity Set (IOS). Sample consist of the companiesthat announced the dividend during 2010-2012 periods. By using non-parametric tests, especially Chi-square Test and Mann Whitney Test, the result of this study showed the stock prices decreased less than dividend amount on ex-dividend date. Besides, the non-growth firms experienced decrease more than growth firms.


Keywords


ex-dividend date, dividend drop-off ratio, IOS

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DOI: https://doi.org/10.26905/jkdp.v19i3.36

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Jurnal Keuangan dan Perbankan (Journal of Finance and Banking)

Diploma Program of Banking and Finance, Faculty of Economics and Business, University of Merdeka Malang

Published by University of Merdeka Malang

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