Reaksi Pasar Atas Pengumuman CGPI

The objective of this research is to empirically examine about the market reaction of corporate governance perception index announcement. The analysis include in aspects abnormal return of corporate governance perception index announcement by good firms and not good firms. The sample of this research is 39 good firms and 13non good firms during the period of 2005 - 2007. The result of this research show that corporate governance perception index has information content and statistically significant responded by the market around the date of corporate governance perception index announcement. The difference between abnormal return of good firms and not good firms around corporate governance perception index announcement is not significant. Keywords: corporate governance perception index, abnormal return, trading volume activity, market reaction.