PENGARUH PENGUMUMAN KENAIKAN TARIF CUKAI ROKOK TERHADAP HARGA SAHAM INDUSTRI ROKOK DI BEI

Abstract

This research aimed to find out the effect of announcement of the rise of cigarettes custom fees on the stock price of cigarettes industries which were listed on Indonesia Stock Exchange (IDX). While, the research was quantitative. Moreover, the population was PT Gudang Garam Tbk, PT Hanjaya Mandala Sampoerna Tbk, PT Bentoel International Investama Tbk, and PT Wismilak Inti Makmur Tbk. Moreover, the data collection technique used saturated sample, in which the sample was taken from population. Furthermore, the data wcich in the form of stock were 10 days before and after the announcement of the rise of cigarettes custom fee on October 24th, 2017. Additionally, based on the research result, it concluded the data followed the normaldistribution. However, since not all the data had fulfilled the homogeneity assumption, Welch ANOVA test was used. In addition, based on the result of Welch ANOVA test, it concluded the announcement of the rise of cigarettes custom fee had affected the stock price of cigarettes industries which were listed on Indonesia Stock Exchange (IDX).
Keywords: Event Study, stock price, cigarettes industry.