ANALISIS PENGUMUMAN RIGHT ISSUE TERHADAP REAKSI PASAR DAN VOLUME PERDAGANGAN SAHAM DI BURSA EFEK INDONESIA

This research was due ttl identifr the existence of abnormal return for the imestor and the existence of dijjer ent abnormal return with the volume of share/stock before and after releasing the announcement of Right Issue be tween 2004 — 2007. The object of this research is sorae company that have been inscribed in the list of Indonesian Stock Excange (ISE) and have done the announcement of right since 2004 to 2007. The result of this the sample election/audition using pzirposive sampling method have obtained 46 company. The data analysis has been done using one sample t-test and paired sample t-test. Based on the analysis which has been done, it was obtained that market reacts negatively to the announcemeht of right issue. lt is shown with the existence of the negative abnormal return and significance at the first day and the second after announcement of right issue. There are no dijjerences of abnormal return and stock trading volume before and after the announcement of right issue.