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73

Tabel : Data Abnormal Return Perusahaan Property & Real Estate Yang Listing
Di BEI Sebelum dan Sesudah Foced Delisting Saham PTRA Tahun
2011.

74

Tabel : Data Abnormal Return Perusahaan Property & Real Estate Yang Listing
Di BEI Sebelum dan Sesudah Foced Delisting Saham SIIP Tahun 2012.

75

Tabel : Data Abnormal Return Perusahaan Property & Real Estate Yang Listing
Di BEI Sebelum dan Sesudah Foced Delisting Saham PWSI Tahun
2013.

76

Tabel : Data Trading Volume Activity Perusahaan Property & Real Estate Yang
Listing Di BEI Sebelum dan Sesudah Foced Delisting Saham PTRA
Tahun 2011.

77

Tabel : Data Trading Volume Activity Perusahaan Property & Real Estate Yang
Listing Di BEI Sebelum dan Sesudah Foced Delisting Saham SIIP
Tahun 2012.

78

Tabel : Data Trading Volume Activity Perusahaan Property & Real Estate Yang
Listing Di BEI Sebelum dan Sesudah Foced Delisting Saham PWSI
Tahun 2013.

79

Tabel : Data Rata-Rata Actual Return, Expected Return, Abnormal Return dan
Trading Volume Activity Perusahaan Property & Real Estate Yang
Listing Di BEI Sebelum dan Sesudah Foced Delisting.

Descriptives : Rata-Rata Abnormal Return dan Trading Volume Activity


Descriptive Statistics
N

Minimum

Maximum

Mean

Std. Deviation

AAR Sebelum FD PTRA - 2011

-,0015

,0233

,009300

,0094879

AAR Sesudah FD PTRA - 2011

-,0165

,0076

-,003480

,0091786

AAR Sebelum FD SIIP - 2012

-,0025

,0089

,002600

,0043566

AAR Sesudah FD SIIP - 2012

-,0219

,0187

,001820

,0151969

AAR Sebelum FD PWSI - 2013

,0033

,0168

,009960

,0051432

AAR Sesudah FD PWSI - 2013

-,0129

,0204

,005040

,0125663

Valid N (listwise)

Descriptive Statistics
N

Minimum

Maximum

Mean

Std. Deviation

ATVA Sebelum FD PTRA - 2011

,0007

,0014

,001100

,0002550

ATVA Sesudah FD PTRA - 2011

,0006

,0015

,001060

,0003912

ATVA Sebelum FD SIIP - 2012

,0017

,0051

,003080

,0013046

ATVA Sesudah FD SIIP - 2012

,0020

,0031

,002500

,0004000

ATVA Sebelum FD PWSI - 2013

,0023

,0041

,003540

,0007162

ATVA Sesudah FD PWSI - 2013

,0035

,0064

,004720

,0012008

Valid N (listwise)

80

NPar Tests : Rata-Rata Abnormal Return dan Trading Volume Activity

One-Sample Kolmogorov-Smirnov Test


AAR

AAR Sesudah AAR Sebelum AAR Sesudah AAR Sebelum AAR Sesudah

Sebelum FD

FD PTRA -

FD SIIP -

FD SIIP -

FD PWSI -

FD PWSI -

PTRA - 2011

2011

2012

2012

2013

2013

,009300

-,003480

,002600

,001820

,009960

,005040

,0094879

,0091786

,0043566

,0151969

,0051432

,0125663

Absolute

,176

,159

,148

,239

,197

,208

Positive

,176

,123

,148

,141

,197

,171

Negative

-,130

-,159

-,126

-,239

-,152

-,208

Kolmogorov-Smirnov Z

,393

,355

,331

,535

,440

,464

Asymp. Sig. (2-tailed)

,998

1,000

1,000

,937

,990

,982

Mean

Normal Parametersa,b

Std. Deviation

Most Extreme Differences

a. Test distribution is Normal.


b. Calculated from data.

One-Sample Kolmogorov-Smirnov Test

ATVA

ATVA

ATVA

ATVA

ATVA

ATVA

Sebelum FD

Sesudah FD

Sebelum FD

Sesudah FD

Sebelum FD

Sesudah FD

PTRA - 2011

PTRA - 2011

SIIP - 2012

SIIP - 2012

PWSI - 2013

PWSI - 2013

,001100

,001060

,003080

,002500

,003540

,004720

,0002550

,0003912

,0013046

,0004000

,0007162

,0012008

Absolute

,300

,240

,233

,201

,333

,237

Positive

,147

,221

,233

,201

,217

,237

Negative

-,300

-,240

-,145

-,201

-,333

-,155

Kolmogorov-Smirnov Z

,671

,536

,521

,450

,745

,529

Asymp. Sig. (2-tailed)

,759

,936

,949

,987

,635

,942

Normal Parametersa,b

Most Extreme Differences

Mean
Std. Deviation

a. Test distribution is Normal.


b. Calculated from data.

81

T-Test : Rata-Rata Abnormal Return

Paired Samples Statistics


Mean
Pair 1

Pair 2

Pair 3

Std. Deviation

Std. Error Mean

AAR Sebelum FD PTRA - 2011

,009300

,0094879

,0042431

AAR Sesudah FD PTRA - 2011

-,003480

,0091786

,0041048

AAR Sebelum FD SIIP - 2012

,002600

,0043566

,0019483

AAR Sesudah FD SIIP - 2012

,001820

,0151969

,0067963

AAR Sebelum FD PWSI - 2013

,009960

,0051432

,0023001

AAR Sesudah FD PWSI - 2013

,005040

,0125663

,0056198

Paired Samples Correlations

Pair 1

Pair 2

Pair 3

AAR Sebelum FD PTRA - 2011 &


AAR Sesudah FD PTRA - 2011
AAR Sebelum FD SIIP - 2012 &
AAR Sesudah FD SIIP - 2012
AAR Sebelum FD PWSI - 2013 &
AAR Sesudah FD PWSI - 2013

Correlation

Sig.

,408

,495

,536

,352

-,572

,313

Paired Samples Test


Paired Differences
95% Confidence Interval
Mean

Std.

Std.

Deviation

Error Mean

of the Difference
Lower

Pair 1

Pair 2

Pair 3

AAR Sebelum FD PTRA - 2011 AAR Sesudah FD PTRA - 2011


AAR Sebelum FD SIIP - 2012 - AAR
Sesudah FD SIIP - 2012
AAR Sebelum FD PWSI - 2013 AAR Sesudah FD PWSI - 2013

df

Sig.
(2-tailed)

Upper

,0127800

,0101556

,0045417

,0001701

,0253899

2,814

,048

,0007800

,0133760

,0059819

-,0158285

,0173885

,130

,903

,0049200

,0160729

,0071880

-,0150371

,0248771

,684

,531

82

T-Test : Rata-Rata Trading Volume Activity

Paired Samples Statistics

Pair 1

Pair 2

Pair 3

Mean

Std. Deviation

Std. Error Mean

ATVA Sebelum FD PTRA - 2011

,001100

,0002550

,0001140

ATVA Sesudah FD PTRA - 2011

,001060

,0003912

,0001749

ATVA Sebelum FD SIIP - 2012

,003080

,0013046

,0005834

ATVA Sesudah FD SIIP - 2012

,002500

,0004000

,0001789

ATVA Sebelum FD PWSI - 2013

,003540

,0007162

,0003203

ATVA Sesudah FD PWSI - 2013

,004720

,0012008

,0005370

Paired Samples Correlations

Pair 1

Pair 2

Pair 3

Correlation

Sig.

,125

,841

,163

,794

-,862

,061

ATVA Sebelum FD PTRA - 2011 &


ATVA Sesudah FD PTRA - 2011
ATVA Sebelum FD SIIP - 2012 &
ATVA Sesudah FD SIIP - 2012
ATVA Sebelum FD PWSI - 2013 &
ATVA Sesudah FD PWSI - 2013

Paired Samples Test


Paired Differences
95% Confidence Interval
Mean

Std.

Std.

Deviation

Error Mean

of the Difference
Lower

Pair 1

Pair 2

Pair 3

ATVA Sebelum FD PTRA - 2011 ATVA Sesudah FD PTRA - 2011


ATVA Sebelum FD SIIP - 2012 ATVA Sesudah FD SIIP - 2012
ATVA Sebelum FD PWSI - 2013 ATVA Sesudah FD PWSI - 2013

df

Sig.
(2-tailed)

Upper

,0000400

,0004393

,0001965

-,0005055

,0005855

,204

,849

,0005800

,0013008

,0005817

-,0010351

,0021951

,997

,375

-,0011800

,0018539

,0008291

-,0034819

,0011219

-1,423

,228