@article{Nurwulandari_Hasanudin_Melati_2021, title={Market Reactions on Corporate Actions in Growing and Nongrowing Energy Consuming Companies}, volume={11}, url={https://www.econjournals.com/index.php/ijeep/article/view/10737}, abstractNote={<p>This paper aims to analyze the market reactions on corporate actions in the form of split-up, reverse split, right issue, and mergers and acquisitions in growing and non-growing energy consuming companies in Indonesia. The market reaction is analyzed based on stock price, trading volume, and abnormal returns movements using paired sample t-tests from the results of the event study for five days before and after corporate actions in the form of split-up, reverse split, right issue, and mergers and acquisitions. The results showed that stock prices reacted positively on the split-up in growing energy consuming companies, while in non-growing energy consuming companies, stock prices did not react significantly. However, the abnormal returns of growing and non-growing energy consuming companies both showed a negative movement, while the trading volumes did not react significantly. This paper specifically analyzes the market reaction on corporate actions in growing and non-growing energy consuming companies to provide interesting insights about the different reactions given by the market to corporate actions carried out by the companies with different growth categories.</p><p><strong>Keywords:</strong> Market reaction, corporate action, split-up, reverse split, right issue, merger and acquisition</p><p><strong>JEL Classifications: </strong>D81, P48, Q35, Q42</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.10737">https://doi.org/10.32479/ijeep.10737</a></p>}, number={3}, journal={International Journal of Energy Economics and Policy}, author={Nurwulandari, Andini and Hasanudin, Hasanudin and Melati, Melati}, year={2021}, month={Apr.}, pages={290–295} }