EVENT STUDY FOR INDONESIA STOCK BUYBACK REGULATION UNDER FLUCTUATING MARKET: STOCK BUYBACK ANNOUNCEMENT AND ABNORMAL RETURN

JOSEPH SURYO BASKORO, Tandelilin Eduardus, Prof., Dr., M.B.A.,

2022 | Tesis | Magister Manajemen

Penelitian ini menguji reaksi pasar dari 82 perusahaan indonesia menggunakan metoda event study. Penelitian ini menemukan reaksi positif pada periode 2017-2019 dan reaksi negatif pada periode 2020. Kemudian dengan metoda analisa regresi, penelitian ini menemukan korelasi positif dari ukuran perusahan dengan performa saham perusahaan. Korelasi negatif juga ditemukan dari likuiditas terhadap performa saham.

This research analyzed the market reaction to stock buyback announcements in 82 Indonesian companies. Using the event study method, this research found that there are positive market reactions in the 2017-2019 period while negative reactions found in the 2020 period. For the determinant for the market reaction, this research found that company size positively correlated to stock performance in Indonesian companies. Meanwhile, short-term liquidity negatively correlated to stock performance.

Kata Kunci : Pembelian Kembali Saham, Event Study