Christian Herdinata_abstract_1612012

REAKSI PASAR TERHADAP PENGUMUMAN EMPLOYEE STOCK OWNERSHIP PROGRAM

Christian Herdinata

Fakultas Ekonomi Jurusan International Business Management
Universitas Ciputra Surabaya
Jl. Waterpark, Boulevard Citra Land, Surabaya, 60216.

Korespondensi dengan Penulis:
Christian Herdinata: Telp. + 62 31 745 1699, Faks. +62 31 745 1699
E-mail: christian.herdinata@ciputra.ac.id

 

Abstract

In Indonesia, the increasing of Employee Stock Ownership Program (ESOP) was relative known new, so it needed any evidence for the market reaction in Indonesia stock exchange. From the latest problem, the purpose of this research was to know how the market reaction for the announcement of ESOP in Indonesia Stock Exchange. Samples on this research were the companies which were listed in BEI that had announced ESOP for period January 1st, 2000 – December 31st, 2010. Analysis technique on hypotesis test related with market reaction for ESOP announcement was done by event study to calculate abnormal return. Research result showed that market tended to ignore ESOP announcement. And it meant that ESOP announcement was not considered as a signaling, which gave a good information for the investor in Indonesia to achieve profit.

Key words: ESOP (Employee Stock Ownership Program), marker reaction, signaling hypothesis, event study.

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Satia Nur Maharani_abstract_1612012

KANDUNGAN INFORMASI LABA BERSIH DAN ARUS KAS TERHADAP REAKSI PERUBAHAN RETURN SAHAM

Satia Nur Maharani

Fakultas Ekonomi Universitas Negeri Malang
Jl. Semarang No. 5  Malang

Korespondensi dengan Penulis:
Satia Nur Maharani: Telp.+62 341 955 2045
E-mail: tiamaharani@ymail.com

  Abstract

This paper presented an investigation of the listed LQ45 companies in Indonesia Security Exchange (BEI). This investigation examined the influence of earnings (EPS) and cash flows (OCF) to the in explaining stock returns and stock price.This study used the accounting data of the companies listed in the BEI from 2008-2010. Furthermore, it employed a two of statistical procedures (regression analysis and path analysis). Also, 31 Indonesian corporations were selected for testing the hypotheses. The results of this paper indicated the existence of information value of earnings and there was sufficient evidence to confirm information content to make the market react but cash flow does not have sufficient evidence to affect stock returns and stock price

Key words: earning per share, cash flow, stock return, stock prices

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Abstract_Yarnest_1612012

RASIO  KEUANGAN PENGUKUR KINERJA PERUSAHAAN DAN DAMPAKNYA TERHADAP EKSPEKTASI RETURN SAHAM                

                                                                 

Yarnest

Jurusan Manajemen Fakultas Ekonomi Universitas Merdeka Malang
Jl. Terusan Raya Dieng N0.62-64 Malang, 65146

Korespondensi dengan Penulis:
Yarnest: Telp./Fax. +62 341 560 058
E-mail: yarnestb@yahoo.com

 

Abstract

This research was intended to know and to describe BUMN firm performance listed at Indonesian Stock Exchange. It measured finance ratios and its impact to expectation return good stock partially and simultaneously. This observational object was corporate BUMN listed at Indonesian Stock Exchange, period 2005-2009. This research used design ex post facto. Exhaustive observational corporate BUMN listed at Indonesian Stock Exchange (BEI) were 13 firms. Because of little population, the method used was census method. Analysis techniques used were analysis multiple regression, quiz f and quiz t, data processing by programs Aviews version 6.0. The result of observation showed that liquidity ratio, leverage ratio, activity ratio, profitability ratio and stock ratio could measure simultaneous firm and performance impacted significant to expectation return stock. Activity ratio consisted of average collection period and inventory turnover and stock ratio consisted of price earning ratio and book value per share partially impacted significant to expectation return stock.  Meanwhile ratio was liquidity, leverage ratio. Profitability ratio partially did not impact significantly to expectation return stock. Stock ratio measured by book value per share constituting impacted as the dominant factor on exspectation return stock.

 Key words: financial ratio, corporate performance, return on expectation

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