How UMA (Unusual Market Activity) Announcement Affects A Company’s Performance

Thomas Gamaliel Teguh Pribadi, Singgih Wijayana, S.E., M.Si., Ph.D.

2022 | Skripsi | AKUNTANSI

Studi ini menyelidiki pengaruh pengumuman Unusual Market Activity (UMA) terhadap kinerja keuangan perusahaan. Sampel penelitian berasal dari populasi sebanyak 268 perusahaan yang terkena pengumuman UMA dan terdiri dari 68 perusahaan dari Main Board. Studi menemukan bahwa ada korelasi positif yang signifikan secara statistik antara akumulasi pengumuman UMA dan rasio Tobin's Q, yang menunjukkan bahwa akumulasi pengumuman UMA berpengaruh terhadap kinerja perusahaan. Dalam hal pentingnya pengumuman UMA, hal tersebut merupakan sumber informasi penting bagi peserta pasar di Indonesia, Pengumuman UMA memberikan pengartian berharga tentang aktivitas yang tidak biasa atau mencurigakan di pasar. Studi ini berkontribusi pada literatur tentang UMA dengan memeriksa efek jangka panjang dari pengumuman terhadap kinerja perusahaan dan menambahkan perspektif baru untuk dieksplorasi dalam penelitian selanjutnya. Ini juga memberikan informasi baru tentang dampak pengumuman UMA dalam konteks Indonesia dan ruang lingkup pengaruh mekanisme kontrol volatilitas ini.

This study investigates the effect of numerous unusual market activity (UMA) announcements on a company's financial performance. The sample for the study was derived from a population of 268 companies affected by UMA announcements and consisted of 68 companies from the Main Board. The study found that there is a statistically significant positive correlation between accumulated UMA announcements and Tobin's Q ratio, indicating that accumulated UMA announcements have an effect on a company's performance. In terms of the importance of UMA announcements, they are an important source of information for market participants in Indonesia, providing valuable insights into unusual or suspicious activity in the market. The study contributes to the literature on UMA by examining the long-term effects of the announcement on company performance and adding a new perspective to explore in future research. It also provides new information on the impact of UMA announcements in the Indonesian context and the scope of the effect of this volatility control mechanism.

Kata Kunci : Unusual Market Activity Announcement , Tobin’s Q