Aktivitas Volume Perdagangan Abnormal

Abstract

information content test that aims to see the market reaction to an event only focuses on the presence or the absence of abnormal return. therefore, it is necessary to test the information content based on trading volume as an alternative to the existing method. this research tried to test information content of bonus share announcements in indonesia stock exchange (Bei). the objectives of this study are to describe the abnormal trading volume activity, test the market reaction to the bonus shares announcements, and determine whether there are differences between AtvA before and after the bonus shares announcements. this research used AtvA analysis method. the sample size used in this research was 33 bonus shares announcement events in Bei in 2006-2017. there was a downtrend of bonus share distribution, and this is because the company considered not to distribute bonus shares at a certain time. Market reacted to bonus share announcement as shown by AtvA in t-1 with significance value of 0,048. This reaction indicates a possibility of information leakage regarding bonus share distribution. there is significant difference of ATVA between before and after bonus share announcements with significance value 0,069. There was a decrease in ATVA after the bonus shares announcements. the decrease in AtvA happened due to the investors' strategy to hold their shares until the cumdate period ended.

Analisis Kinerja Pegawai pada Biro Hukum Sekretariat Daerah Provinsi Sulawesi Tenggara

“…Emerson dalam Handayaningrat (2001), Drucker dalam Sugiyono (2009), dan Siswanto (2001) yang kesemuanya menekankan bahwa efektivitas merupakan suatu ukuran yang memberikan gambaran seberapa jauh target dapat tercapai, dengan melihat perbandingan antara rencana dengan yang telah ditentukan dengan hasil yang dicapai. Hasil wawancara yang didukung oleh hasil observasi menunjukkan bahwa para pegawai sudah cukup serius dalam mengerjakan pekerjaan mereka dan berusaha untuk menyelesaikannya tepat pada waktunya karena setiap pegawai sudah memiliki job description yang didalamnya berisi mengenai kewajiban dan pertanggungjawaban para pegawai terhadap tugas dan fungsi yang harus mereka kerjakan, walaupun tidak dapat dipungkiri masih ada beberapa pegawai yang kurang serius dalam menyelesaikan tugasnya, namun hal tersebut tidak berdampak serius terhadap ketetapatan waktu penyelesaian pekerjaan pada Biro Hukum Sekretariat Daerah Provinsi Sulawesi Tenggara.…”