REAKSI PASAR ATAS PENGUMUMAN CORPORATE GOVERNANCE PERCEPTION INDEX

Astria, Debby (2014) REAKSI PASAR ATAS PENGUMUMAN CORPORATE GOVERNANCE PERCEPTION INDEX. Undergraduate thesis, Universitas Katolik Musi Charitas Palembang.

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Abstract

The objective of this study is to examine about the capital market reaction of Corporate Governance Perception Index (CGPI) announcement. The variables used in this study are abnormal return and trading volume activity. The population of this study are all companies which participate in CGPI survey. The sample of this research are 66 companies during the period of 2011-2013 which are drawn using purposive sampling method. This study compares the abnormal return and trading volume activity before and after CGPI announcement. Observation are made during the period of 10 trading days; five days before and five days after the CGPI announcement. Hypotheses are tested by Paired Sample t Test with significant level = 5%. The result of this research shows that there is no significant difference between average abnormal return before and after CGPI announcement of CGPI, but there was significant difference between average trading volume activity before and after CGPI announcement. Keywords: corporate governance perception index, abnormal return, trading volume activity.

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