TVA, Abnormal Return, and Investor Perception on Changing of Tick Size 2 May 2016
Journal Title: Jurnal Keuangan dan Perbankan - Year 2017, Vol 21, Issue 3
Abstract
The objective of this study was to analyze the market reaction to the changing of the capital market's tick size regulation on May 2, 2016. The main goal of the regulation was to increase the capital market liquidity, then it’s important to test whether there was a difference in market liquidity before and after the regulation released. The method of this study was studying with Trading Volume Activity (TVA) and abnormal return based on secondary data and also investor perception based on primary data. The secondary data consist of 65 samples of listed companies in Indonesia Stock Exchange. The primary data consist of 67 investors in Yogyakarta that were selected using a purposive sampling method. The result of this study was a mix, there was no difference before and after the release of regulation in TVA, but there was a difference in abnormal return. The result of investor perception shows that there was a positive response to the changing of tick size regulation.
Authors and Affiliations
Tri Gunarsih, Astri Wening Perwitasari
Keywords
Related Articles
- EP ID EP438673
- DOI -
- Views 91
- Downloads 0
RESPON INVESTOR TERHADAP PENGUMUMAN LABA INDUSTRI PERBANKAN YANG MENGHADAPI KOS STICKINESS
This study aimed to analyze the response of investors to the announcement of the financial statements of the banking sector. The population in this study was the banking industry. This study used purposive sampling metho...
Strategi Bisnis dalam Praktik Manajemen Laba pada Perusahaan Manufaktur di Indonesia
This study investigated whether a firm’s business strategy is associated with real and accrual earnings management. It applied by Miles & Snow (1978) business strategy typology and classified business strategy into two d...
DAMPAK KEPUTUSAN INVESTASI DAN STRUKTUR KEPEMILIKAN KELUARGA TERHADAP KOMPENSASI DIREKSI PERUSAHAAN MANUFAKTUR INDONESIA
This study examined the influence of family ownership structure and investment decisions on CEO compensation. This study also examined how the family ownership structure and investment decisions jointly affected CEO comp...
ANGELS Rating System for Islamic Banking Industry in Indonesia
This study aims to analyze the bank soundness assessment using ANGELS approach in an Islamic bank. This research is a qualitative research. This research uses a non-interactive qualitative approach that is an analysis r...
Performance Evaluation of Equity Mutual Funds in Indonesia
Mutual funds considered an investment alternative for investors. One type of mutual fund that attracts many investors was the equity mutual funds. Equity mutual fund a type of mutual funds that most part of the investmen...