REAKSI PASAR MODAL TERHADAP PUBLIKASI CORPORATE GOVERNANCE PERCEPTION INDEX

Herdiyanti, Dini Putri and Midiastuty, Pranata P (2014) REAKSI PASAR MODAL TERHADAP PUBLIKASI CORPORATE GOVERNANCE PERCEPTION INDEX. FAIRNESS , 1 (1). pp. 1-25. ISSN 2303-0348

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Abstract

This study aims to test the market reaction of corporate governance perception index announcement. The variabel include abnormal return and trading volume activity of corporate governance perception index by big ten firms and not big ten firms, and corporate governanceperception index firms and not corporate governance perception index firms. The sample of this research is 62 firms, include 21 big ten firms and 21 big non firms, and 31 coporate governance perception index firms and 31 non corporate governance perception index firms during the period of 2005-2008. The result of this research show that corporate governance perception index measured by trading volume activity has information content and statistically significant. It ’s different with abnormal return, result show that corporate governance perception index statistically not significant. The difference between abnormal return and trading volume activity of big ten firms and not big ten firms around corporate governance perception index announcement is significant. The difference abnormal return between corporate governance perception index firms and not corporate governance perception index firms is not significant. But the difference trading volume activity between corporate governance perception index firms and not corporate governance perception index firms is significant

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