PENGARUH INFORMASI DIVIDEN KAS SEBELUM DAN SESUDAH EX DIVIDEND DATE TERHADAP HARGA SAHAM

Abstract

This research aimed to find out whether there was an effect of information on cash dividend announcements before and after the ex-dividend date on the stock price of manufacturing companies listed on the Indonesia Stock Exchange (IDX). The dependent variable was the stock price. Moreover, the independent variable was information on cash dividend announcements before and after the ex-dividend date. The research was quantitative with a case-study approach. The population was 381 manufacturing companies listed on the Indonesia Stock Exchange (IDX) 2016-2020. Furthermore. the data collection technique used purposive sampling, in which the sample was based on the criteria given. In line with that, there were 39 companies as the sample; in 5 years of observation. In total, there were 195 sample data. Additionally, the data analysis technique used a descriptive analysis technique, normality test, and non-parametric test (Wilcoxon test) with SPSS 26. The research resultshowed that there was a difference in stock price 10 days before the ex-dividend date and 10 days after the ex-dividend date.