UJI INDEPENDENSI KINERJA KEUANGAN TERHADAP KEBIJAKAN RIGHT ISSUE STUDI KASUS DI BURSA EFEK INDONESIA

Abstract

Investors are the investment partners. They should find supporting information for making investment
desicions. This research will widen the academic knowledge and giving more information for the people, specially
for investor in the stock exchange. There are a lot of things that can be consoderation for investors, for instance,
information of emiten corporation action. Right issue, not only to support investor, but also, teorritacally can give
informastion that could cover both emiten and investor interest. Right issue is one of corporate policy or corporate
action in order to meet corporate goals, like bussiness expansion, increase liquidity, et cetera. Kuantitative
paradigm with descriptive method is used in this research. The research population are company that doing the right
issue in Indonesian Stock Exchange in the year 2012 – 2014. With purposive sampling method, this research used 25
companies as the sample research. Based on Kendal’s Tau Crosstab analysis, the result showed that DER, company
size and EAT significantly have the same direction with right issue policy, while company growth have different
direction. Others variable, PBV and public minority, have no direction significantly to right issue. Since the data is
not normal and the result of significant test is not robust, so further, this research need others reference to support
this research model