EFEKTIVITAS PENGAWASAN BAPEPAM TERHADAP PERILAKU FREE-RIDING DALAM REAKSI PASAR TENTANG PUBLIKASI LAPORAN KEUANGAN

Pribadi, Ronny Kristianto (2005) EFEKTIVITAS PENGAWASAN BAPEPAM TERHADAP PERILAKU FREE-RIDING DALAM REAKSI PASAR TENTANG PUBLIKASI LAPORAN KEUANGAN. S2 thesis, UAJY.

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Abstract

The phenomenon off free-riding behavior is triggered by the investors' motives to get the biggest abnormal gains or to avoid the smallest abnormal loss. There are many cause to this free-riding behavior, one of them is insider information that couldresult insider trading to happen. Indisider information and insider trading could occur if the BAPEPAM surveillance is ineffective due to its status as Stock Market Surveyor Body. This research is aimed to calculate the Average Annual Return (AAR) from companies that have not yet been publishing their increase or decrease in profit after other similar companies published their good news or bad news profit, as well as to identify, comprehend, analyze, and evaluate the effectivity of BAPEPAM to the free-riding behavior related to insider information and insider trading. This research is utilizing secondary data, namely the financial reports that was published by LQ45 companies during the period of 2001 until 2004, using the market model and event study. This research is also a normative law research, which is a legal research by using abstraction to Undang-Undang No.8 Tahun 1995 about stock market, specially about lies, deceits, and insider transactions, as well as the expense both imprisonment and administrative sanction.

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