NISWATIN, EKA NOFI (2012) PENGGUNAAN DIVIDEND SOGNALING THEORY DAN RENT ECTRACTION HYPHOTESIS DALAM KEBIJAKAN DIVIDEN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA PERIODE 2005-2010. Undergraduate thesis, STIE PERBANAS SURABAYA.
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Abstract
The research examines the dividend policy based on the dividend signaling hypothesis theory and rent extraction. A company’s dividend policy can be seen from the changes in dividends which are distributed by company. With the announcement of the dividend there will be a positive \ reaction and negative reaction. It can be used as a basic to determine whether this supports the dividend signaling theory or rent extraction hypothesis. The sample used was 38 manufakturing company with 85 the announcement dividen. One point a and b hypotheses was tested by one sample t test with a proxy for the abnormal return, two point a hypotheses was tasted by wilcoxon mann whitney and two point b hypotheses was tested by independent sample t test that both with a proxy for abnormal return from companies that have controlling shareholders and companies non controlling shareholders. Result research shows that when companies make dividend increase or decrease in the market will reaction. This research also supports the dividend signaling theory, where the market thinks the dividend is a signal given by the company. But this is research do not support the rent extraction hypothesis, which assumed that dividends are the market as a signal from the majority shareholders to minority shareholders. Suggestions for further researchers can conduct research with a sample of firms that differ in growth companies and companies do not grow because it also effect the market reaction. Keyword : Dividend Signaling Theory, The Rent Extraction Hypothesis, The Abnormal Return
| Item Type: | Thesis (Undergraduate) |
|---|---|
| Subjects: | 600 - TECHNOLOGY > 650 - 659 MANAGEMENT & PUBLIC RELATIONS > 657 - ACCOUNTING > 657.3 - FINANCIAL REPORTS |
| Divisions: | Bachelor of Accountancy |
| Depositing User: | Perpustakaan Universitas Hayam Wuruk Perbanas |
| Date Deposited: | 13 Jul 2018 07:23 |
| Last Modified: | 13 Jul 2018 07:27 |
| URI: | http://eprints.perbanas.ac.id/id/eprint/3343 |
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