FINANCIAL CHARACTERISTICS OF COMPANY THAT WILL PERFORM CORPORATE ACTION (PERIOD 2008-2017)

Abstract

This research was conducted to find out how the financial characteristics of companies that will carry out corporate actions in the form of a stock split. 48 companies listed on the Indonesia Stock Exchange were selected as research samples by purposive sampling method. Research variables as many as 18 variables. The analytical method used is cluster analysis. There are three groups of companies for the period t-1 stock split, namely: the company is very good, the company performs well, and company risk. Three groups of t-2 stock split period companies are: well-managed companies, less efficient companies, and well-performing and efficient companies. Corporate finance moves dynamically so that the stock split action cannot be predicted since t-2.