REAKSI PASAR TERHADAP PENGUMUMAN
PERUBAHAN BOND RATING (STUDI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2010 – 2016) Total View This Week0
Institusion
Universitas Katolik Musi Charitas
Author
., Sugiono
Subject
H Social Sciences (General)
Datestamp
2022-10-24 06:57:23
Abstract :
This research aims to analyze market reaction to the announcement of
bond rating change, either upgrade announcement or downgrade announcement.
Market reaction can be seen on significance abnormal return on the event
windows. Samples taken by purposive sampling technic and obtained 52 company
which consists of 30 upgrades and 22 downgrades. This research using event
study as the method to testing the hypothesis. Event period in this research is t-10
until t+10 with estimation period 100 days. The results of this research is market
reacted positively on upgrade announcement and react negative on downgrade
announcement.
Keywords: bond rating, event study, upgrade, downgrade