150,043 research outputs found
Analisis Abnormal Return Saham Sebelum dan Sesudah Reverse Stock Split pada Perusahaan di Bei Periode 2011-2015
A positive stock return causes investors interested and interested in investing in the company that issued the shares. Many companies do stock split to overcome the problem too low or too high stock prices. This study aims to analyze whether there are significant differences abnormal return of stock before and after conducted reverse stock split on company in BEI. The population in this study is the company that conducted reverse stock split in 2011 to 2015. Purposive sampling is the method used in sampling and obtained a number of 6 issuers meet the criteria of the sample. Tests in this study used the approach of event study and analytical techniques used to test bedaabnormal share return before and after reverse stock split is non-parametric test: wilcoxon signed rank test because the data is not normally distributed. The result obtained from this research is there is no significant difference of abnormal return of stock before and after announcement of reverse stock split. The result can be interpreted that the market does not respond to the stock split stocks. The stock split does not have information content and is not considered important information for investors.
 
A TESTING OF INFORMATIONALLY SEMI-STRONG MARKET EFFICIENCY: REVERSE STOCK SPLIT ON COMPANIES LISTED ON INDONESIA STOCK EXCHANGE PERIOD 2007-2017
This research is aimed to test and analyze informationally semi-strong market efficiency towards reverse stock split event. There are various reasons as to why company conducted reverse stock split. The announcement of reverse stock split activities could also affect the market reaction. This activity is often seen as a negative signal by investors. Hence, the variables measured in this research are abnormal return (AR), trading volume activity (TVA), and bid-ask spread. Market adjusted model is used in this research to determine the return during the window period which is ten days before (t-10) until ten days after (t+10) the announcement of reverse stock split. Data gathered is a secondary data taken from ICaMEL, Indonesia Stock Exchange (IDX), Kustodian Sentral Efek Indonesia (KSEI), and finance.yahoo.com. With using purposive sampling as its sampling method, this research took 12 out of 19 companies available in the population. KolmogorovSmirnov is used to determine normality. While, to test the market efficiency, the existence of abnormal return and its rapidity to be absorb in the market are used. Whereas, One Sample t-Test and Wilcoxon Signed-Rank test are used to test the hypothesis with a 5% significant level. The results show that there is negatively significant abnormal return around the day of the announcement of reverse stock split which are in the day of the announcement (t-0), seven days after (t+7), and eight days after (t+8) the announcement. There is also a significant difference on trading volume activity and bid-ask spread before and after the announcement. It indicates that reverse stock split has information and affects trading volume activity and bid-ask spread. With the existence of negatively significant abnormal return on day seven and eight after the announcement, it can be concluded that investors do see reverse stock split as a negative signal and Indonesia Stock Exchange (IDX) has not yet achieved informationally semi-strong market efficient
Reverse Chv\'atal-Gomory rank
We introduce the reverse Chv\'atal-Gomory rank r*(P) of an integral
polyhedron P, defined as the supremum of the Chv\'atal-Gomory ranks of all
rational polyhedra whose integer hull is P. A well-known example in dimension
two shows that there exist integral polytopes P with r*(P) equal to infinity.
We provide a geometric characterization of polyhedra with this property in
general dimension, and investigate upper bounds on r*(P) when this value is
finite.Comment: 21 pages, 4 figure
On the scope of the referential hierarchy in the typology of grammatical relations
In the late seventies, Bernard Comrie was one of the first linguists to explore the effects of the referential hierarchy (RH) on the distribution of grammatical relations (GRs). The referential hierarchy is also known in the literature as the animacy, empathy or indexibability hierarchy and ranks speech act participants (i.e. first and second person) above third persons, animates above inanimates, or more topical referents above less topical referents. Depending on the language, the hierarchy is sometimes extended by analogy to rankings of possessors above possessees, singulars above plurals, or other notions. In his 1981 textbook, Comrie analyzed RH effects as explaining (a) differential case (or adposition) marking of transitive subject ("A") noun phrases in low RH positions (e.g. inanimate or third person) and of object ("P") noun phrases in high RH positions (e.g. animate or first or second person), and (b) hierarchical verb agreement coupled with a direct vs. inverse distinction, as in Algonquian (Comrie 1981: Chapter 6)
Priority Queues with Multiple Time Fingers
A priority queue is presented that supports the operations insert and
find-min in worst-case constant time, and delete and delete-min on element x in
worst-case O(lg(min{w_x, q_x}+2)) time, where w_x (respectively q_x) is the
number of elements inserted after x (respectively before x) and are still
present at the time of the deletion of x. Our priority queue then has both the
working-set and the queueish properties, and more strongly it satisfies these
properties in the worst-case sense. We also define a new distribution-sensitive
property---the time-finger property, which encapsulates and generalizes both
the working-set and queueish properties, and present a priority queue that
satisfies this property.
In addition, we prove a strong implication that the working-set property is
equivalent to the unified bound (which is the minimum per operation among the
static finger, static optimality, and the working-set bounds). This latter
result is of tremendous interest by itself as it had gone unnoticed since the
introduction of such bounds by Sleater and Tarjan [JACM 1985]. Accordingly, our
priority queue satisfies other distribution-sensitive properties as the static
finger, static optimality, and the unified bound.Comment: 14 pages, 4 figure
Reverse mathematics and infinite traceable graphs
This paper falls within the general program of investigating the proof
theoretic strength (in terms of reverse mathematics) of combinatorial
principals which follow from versions of Ramsey's theorem. We examine two
statements in graph theory and one statement in lattice theory proved by
Galvin, Rival and Sands \cite{GRS:82} using Ramsey's theorem for 4-tuples. Our
main results are that the statements concerning graph theory are equivalent to
Ramsey's theorem for 4-tuples over \RCA while the statement concerning
lattices is provable in \RCA.
Revised 12/2010. To appear in Archive for Mathematical Logi
Monomials, Binomials, and Riemann-Roch
The Riemann-Roch theorem on a graph G is related to Alexander duality in
combinatorial commutive algebra. We study the lattice ideal given by chip
firing on G and the initial ideal whose standard monomials are the G-parking
functions. When G is a saturated graph, these ideals are generic and the Scarf
complex is a minimal free resolution. Otherwise, syzygies are obtained by
degeneration. We also develop a self-contained Riemann-Roch theory for artinian
monomial ideals.Comment: 18 pages, 2 figures, Minor revision
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