PENGARUH KEBIJAKAN DEVIDEN TERHADAP HARGA SAHAM MENURUT TEORI BIRD IN THE HAND PADA EMITEN MANUFAKTUR DI BURSA EFEK JAKARTA

Abstract

Divident is one of return that expected by investor. Divident is an important thing for a

company because it will influence price of stock. The objective this research is to

examine the influence price of dividen policy on change price of stock. The population of

this study was listed companies in the manufacturing sector at Jakarta Stock

Exchange(JSX). The sample selection used purposive sampling. There were 20 sample

meeting the criteria with periods 2004 and 2005. The technique of analysis used in this

research was paired sample T test. The result of this research showed that dividen

increased was not influence price of stock significantly. That can be watch from t value

was 0,129 more less than t table 2,031. from that can be explained by increased of

dividend was not influence changed price of stock.