Analisis Perbedaan Abnormal Return Dan Likuiditas Saham Sebelum Dan Sesudah Right Issue (Studi Pada Perusahaan-Perusahaan Yang Terdaftar Di Bursa Efek Indonesia Tahun 2012-2015)

This study aims to determine whether there is a difference of abnormal return and liquidity of shares before the rights issue after. The population in this study is that companies listed on the Stock Exchange that rights issues in 2012-2015. This research is a descriptive study using quantitative methods. Sample selection technique in this research is purposive sampling. In accordance with the criteria specified, then acquired 45 companies which used as a sample. The data used is secondary data derived from the Factbook 2012-2015, daily stock price data and Composite Stock Price Index (CSPI) Daily (Close Price). The assay used in this study is the normality test and then using two different test average (Wilcoxon Signed Rank Test). The results of this study indicate that the absence of a significant difference in abnormal return in the period before and after the announcement of the rights issue and this study shows the differences in the liquidity of the stock before and after the announcement of the rights issue. The difference results because of differences in the liquidity of shares Trading Volume Activity (TVA) is significant in the period before and after the announcement of the rights issue