From
the analysis which is already submitted as a report, we can conclude that PT. Steel Pipe Industry of Indonesia is a
good company to invest. Because, even though PT. Steel Pipe Industry of
Indonesia has a low return rate they still can pay their dividend well and
constantly without affected by their stock price. Its mean that PT. Steel Pipe
Industry of Indonesia is a secure company to invest and provide good long-term
return because they pay the dividend constantly without reducing their
stockholder values.
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Variance of
Rm
|
0.000125694
|
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Covar (Ri,Rm)
|
0.000085047268672
|
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Beta*
|
0.676620695
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*beta=
Covar(Ri,Rm)/var(Rm)
Meaning that if beta is lower than 1, the Ri is
lower than Rm. Which mean that the risk of this company is low.
t-Test:
Paired Two Sample for Means
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||
|
|
Variable 1
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Variable 2
|
|
Mean
|
-0.001232366
|
-0.009996689
|
|
Variance
|
0.000272051
|
0.001461616
|
|
Observations
|
10
|
10
|
|
Pearson
Correlation
|
0.056877442
|
|
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Hypothesized
Mean Difference
|
0
|
|
|
df
|
9
|
|
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t Stat
|
0.679847256
|
|
|
P(T<=t)
one-tail
|
0.256853046
|
|
|
t Critical
one-tail
|
1.833112933
|
|
|
P(T<=t)
two-tail
|
0.513706092
|
|
|
t Critical
two-tail
|
2.262157163
|
|
H0
: The dividend payment
affect the stock price
H1
: The dividend payment didn’t
affect the stock price
If
t stat > T crit, Accept H0
If
t stat < T crit, Accept H1
0.679847256 < 2.262157163
T stat < T crit
So we accept H1, The dividend payment didn’t affect
the stock price.
