Analisis Pengaruh Indikasi Pengumuman Bond Rating Terhadap Return Saham Pada Emiten Sektor Perbankan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2009-2011

Cahya, Muhammad Indra (2013) Analisis Pengaruh Indikasi Pengumuman Bond Rating Terhadap Return Saham Pada Emiten Sektor Perbankan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2009-2011. S1 thesis, STIE Indonesia Banking School.

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Abstract

The announcement of bond rating is a publicinformation which can be used in stockassessments. This study aims to determine the existence of information indicative about bondrating announcement with a grade which is categorized as investment grade in the value ofabnormal return. The research using observational announcements bond ratings issued by PT.PEFINDO during the period 2009-2011. The sample that used in this research is a stock price ofbanking sector listed on the Indonesia Stock Exchange during the period 2009-2011. True activity in thisstudy is2 models ofabnormal return calculations that could be obtainedfrom the banking-sector issuers returns that announce bond rating in an investment gradecategories with descriptive statistics and tests of significance. The abnormal return that will betested is “per-grade” model and “whole grade that includes in investment grade”model. It ishad11-days event window period where the division is the 5 days before the announcement, theannouncement date, and 5 days after the announcement. Instead of it, there is an additionaltesting for the estimation period that will be used next in the process of regression The test results in this study showedasignificant relationship between bond rating withabnormal returns in the period before at thecalculations of per-grade model. Also oneday after the announcementat the calculation of whole grade modelwhich indicated the effect of theannouncement of bond rating. In other words, it can be concluded that the announcement ofbond rating has not been a big influence on stock returns in the banking sector Keywords:Bond rating, abnormal return.sektor banking, investment grade

Item Type:	Thesis (S1)
Subjects:	H Social Sciences > HF Commerce > HF5601 Accounting
Divisions:	Prodi S1 Akuntansi
Depositing User:	Mrs. Deli Apsa
Date Deposited:	25 Sep 2020 04:32
Last Modified:	14 Jun 2024 04:00
URI:	http://repository.ibs.ac.id/id/eprint/1355

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