Vol 8 (2023): June (in progress)
Business and Economics

Analysis of Abnormal Returns and Trading Volume Activities Before and After Ex-Date Dividends in the Manufacturing Sector Listed on the IDX 2016-2020 Period
Analisis Abnormal Return Dan Trading Volume Activity Sebelum dan Sesudah Ex-date Dividen Pada Sektor Manufaktur Yang Terdaftar di BEI Periode 2016- 2020


Dyah Agung
Universitas Muhammadiyah Sidoarjo, Indonesia
Heri Widodo
Unuversitas Muhammadiyah Sidoarjo, Indonesia *

(*) Corresponding Author
Published June 26, 2023
Keywords
  • Signalling Theory,
  • Capital Market,
  • Divident,
  • Abnormal Return,
  • Trading Volume Activity
How to Cite
Agung, D., & Widodo, H. (2023). Analysis of Abnormal Returns and Trading Volume Activities Before and After Ex-Date Dividends in the Manufacturing Sector Listed on the IDX 2016-2020 Period . Academia Open, 8, 10.21070/acopen.8.2023.4019. https://doi.org/10.21070/acopen.8.2023.4019

Abstract

This Study aims to analyze the ex-date dividen on the market reaction as masured has a research period, 5 days for the dividend ex-date before, 1 day for the estimation period, 5 days for the dividend ex-date. The sample selection in this study used a descriptive method. With a sample of 6 companies in the manufacturing sector. For 5 periodes 2016-2020. The data used is secondary data. The data analysis method used in this study is the paired sumple test for abnormal returns because the data is normally distributed. And the wilcoxon signed rank test on trading volume activity because the data is not uniformly distributed. Ex-date dividend before and ex-date dividend after in the different test the wilcoxon signed rank test on trading volume activity shows that there is a difference between before the ex-date dividend and the end-date after the dividend.

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