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Transfer Informasi Intra Industri di Sekitar Pengumuman Inisiasi dan Omisi Dividen | Cahyaningsih | Jurnal Akuntansi dan Bisnis

Transfer Informasi Intra Industri di Sekitar Pengumuman Inisiasi dan Omisi Dividen

Cahyaningsih Cahyaningsih

##article.abstract##


This research focuses at announcement of dividend initiations and dividend omissions. This research investigates stock prices reaction of rival firms (nonreporter) in the same industry with the announcing firms (reporter) from firms that have active trading share. This study used sample of 18 reporter and 79 nonreporter for dividend initiation, 9 reporter and 53 nonreporter for dividend omission during 2000-2004 time periods. The result of the study shows that on the announcement of dividend initiations and omissions have significant effects on valuation of nonreporter firms in the same industry. Those announcement cause competitive effect. This research also investigates characteristic variables of reporter firms that influence on stock prices reactions nonreporter firms (as investors reaction), that are size, growth, and risk. The statistic methods used to test hypothesis are t-test and multiple regression analysis. The result of the study shows that size and growth are significant, that can explain the magnitude of the transfer information intra-industry, but variable risk is not significant.

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DOI: http://dx.doi.org/10.20961/jab.v7i1.51

Jurnal Akuntansi dan Bisnis (JAB)
ISSN 1412-0852 (print), 2580-5444 (online)
Published by Accounting Study Program, Faculty of Economics and Business, Universitas Sebelas Maret, Indonesia


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