THE INTRA-INDUSTRY SPILLOVERS OF INDONESIAN RIGHT OFFERINGS

MIX: JURNAL ILMIAH MANAJEMEN

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Field Value
 
Title THE INTRA-INDUSTRY SPILLOVERS OF INDONESIAN RIGHT OFFERINGS
 
Creator Rafik, Abdur
Arafah, Embun
 
Subject intra-industry effect, spillover effect, pre-emptive rights, seasoned equity offering, event study, right issue
 
Description This study aims to examine the spillover effect of right offerings to the industry on the Indonesian Stock Exchange in the period 2009-2016. This study is designed using event study methodology. In total, there are 96 issuing companies (issuers) and 1205 non-issuing companies (non-issuers) used as the sample which was obtained using a purposive sampling technique. The test for information content on the right issues was conducted using standard t-test on the average cumulative abnormal return of issuers and non-issuers in the period t-10 to t+10 around the issuance. The research found positive abnormal returns for issuers in t0 to t+4 but did not confirm the spillover effect to non-issuers over the observed (window) periods. The average cumulative abnormal returns are randomly distributed during the window period. These results confirm the absence of intraindustry effect of right issues on the non-issuers’ performance
 
Publisher Universitas Mercu Buana
 
Contributor
 
Date 2019-02-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://publikasi.mercubuana.ac.id/index.php/Jurnal_Mix/article/view/5264
10.22441/mix.2019.v9i1.012
 
Source MIX: JURNAL ILMIAH MANAJEMEN; Vol 9, No 1 (2019): MIX: Jurnal Ilmiah Manajemen; 190 - 204
2460-5328
2088-1231
 
Language eng
 
Relation https://publikasi.mercubuana.ac.id/index.php/Jurnal_Mix/article/view/5264/2416
 
Rights Copyright (c) 2019 MIX: JURNAL ILMIAH MANAJEMEN
 

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