Analisis Perbedaan Harga Saham Sebelum Dan Sesudah Pengumuman Stock Split (Studi Pada Perusahaan Pelaku Stock Split Yang Terdaftar Di Bursa Efek Indonesia Periode 2018-2020)

Abstract

The purpose of this study is to find out and analyze the differences of 1) the average stock price and 2) the average abnormal return of shares in stock split companies listed on the IDX period 2018-2020.

Theories related to this research are financial management which includes capital markets, investments, stocks, event studies, corporate action, stock split, and abnormal returns. The analytical tools used in this study are normality tests and different tests. The normality test uses the kolmogorov smirnov method, while for other tests use a paired sample t-test if the data is normally distributed, and if the data is not distributed normally, it will be used wilcoxon signed rank test.

The results of this study showed that there was no significant difference in the average stock price before and after the announcement of the stock split on the stock split company listed on the IDX period 2018-2020, which means that this hypothesis 1 is rejected. As for hypothesis 2 is also rejected which means there is no difference in the abnormal average return of significant shares before and after the announcement of stock split on stock split companies listed on the IDX period 2018-2020