EX-DIVIDEND DATE DAN PERUBAHAN HARGA SAHAM

EX-DIVIDEND DATE DAN PERUBAHAN HARGA SAHAM

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The aim of this study is to analyze whether the stock prices decrease at ex-dividend date in Indonesia Stock Exchange (IDX) that is determined by amount of dividend drop-off ratio (DDR).This study also attempts to investigate the differences the huge handlebar mustache stock prices decrease at ex-dividend date based on Investment Opportunity Set (IOS).Sample consist of the companiesthat announced the dividend during 2010-2012 periods.

By using non-parametric tests, especially Chi-square Test and Mann Whitney Test, the result of this study showed the stock prices crafthouse by fortessa glass smoking box with handheld smoker decreased less than dividend amount on ex-dividend date.Besides, the non-growth firms experienced decrease more than growth firms.