Ardiansyah, Rendy, Handayani, Krisnawuri and Setyawati, Dyah ORCID: https://orcid.org/0000-0002-8899-0947 (2023) Analysis of Differences in Abnormal Return and Stock Liquidity Before and After the Rights Issue. In: The 20th International Symposium on Management (INSYMA 2023): Series Advances in Economics, Business and Management Research, 30 September 2023, Universitas Surabaya.

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Abstract

This research aims to determine differences in strange returns and stock liquidity before and after the rights issue. The objects of this research were companies registered on the 2018–2021 Indonesian Stock Exchange. This research used a quantitative approach with secondary data. Documentation techniques were used for data collection. This study used purposive sampling so that out of 111 companies, only 38 companies met the sample criteria—data analysis techniques using descriptive analysis, normality tests, and difference tests. The results of this research show that: there are differences in strange stock returns before and after the rights issue. The Wilcoxon test results show a value of 0.002 which is less than 0.05. There is also no difference in stock liquidity before and after the rights issue. The Wilcoxon test results obtain a value of 0.446, greater than 0.05.

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