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Abstrak :
This research examined the announcement of seasoned equity offering to stock return and trading volume. This study grouped its sample by degree of financial distress risk. When managers realizing that the distress risk is rising, a firm will choose financed its activity by equity rather than bond. If investors recognize this chain of events, then the stock price will decrease by the announcement of seasoned equity. It?s called the static tradeoff between tax benefit and distress risk from debt-financing (Myers, 1989). The purpose of this research is to know the behavior of stock return and trading volume for each sample group. SEO announcement is an interesting subject because it has no hypothesis which best described the phenomenon on each capital market within a country. There are many different SEO effects depend on its capital market structure and efficiency which is support the efficient market hypothesis (Fama, 1970). Asquith and Mullins (1986) found signaling as the answer of negative price reaction, while Tsangarakis (1996) found investment opportunities as response of positive price effect. This research is using an event studies method in order to meet its objectives. By 41 days of event period, this research wants to get better return and trading volume behavior around announcement day. But, since bigger firms has harder public exposure, then this research restrict its event only for formal announcement done by Indonesia Stock Exchange (IDX). The result support Asquith and Mullins research and there is no evidence that Indonesian investors knowing about financial distress risk owned by listed firms. Significant cumulative average abnormal return was found in every sample group. Negative price effect was larger for group with high financial distress risk. On the contrary, higher volume turnover was booked by the group of high financial distress risk. This study suggested listed shares not to issue equity if its purpose is to do a financial restructuring. Because, once investors realize that distress risk have had risen, stock price will fall and the trading volume will be lessen. Further study could do some improvement by measuring the operating performance of the SEO firms, use other financial distress prediction model, or use other stock return calculation model.

Abstrak :
Persaingan antar operator telepon seluler saat ini semakin ketat, baik operator telepon yang beroperasi pada jaringan Global System for Mobile (GSM) maupun operator yang beroperasi pada jaringan Code Division Multiple Access (CDMA). Para operator ini terus bersaing memperebutkan pangsa pasar (market share). Pemasaran merupakan proses yang tidak dapat dipisahkan dari perusahaan, begitu pula dengan bisnis telekomunikasi. Berkaitan dengan hal tersebut, masing-masing operator telepon seluler harus menentukan strategi yang tepat sebagai upaya memenuhi keinginan, kebutuhan konsumennya dan kemudian dapat memperoleh pangsa pasar yang besar. Penerapan strategi pemasaran yang tepat bertujuan agar perusahaan dapat bertahan di ketatnya persaingan saat ini. PT. Telkomsel sebagai operator telepon seluler di Indonesia perlu menetapkan strategi pemasaran yang tepat pula, dimana saat ini para operator sibuk bersaing dengan melakukan "perang" tarif. Telkomsel dengan salah satu produk prabayarnya kartu simpati ikut meramaikan persaingan ini dan berusaha tetap mempertahankan pangsa pasarnya yang paling besar saat ini. Dalam menentukan strategi pemasaran, suatu perusahaan harus mengetahui tahapan suatu produk dalam daur hidup produk dengan tujuan agar perusahaan dapat mengambil kebijakan terhadap produk, dalam hal ini produk kartu simpati pada Telkomsel, dalam setiap tahapan. Pada penelitian ini, digunakan strategi pemasaran berdasarkan daur hidup produk yang dikembangkan dengan bauran pemasaran (product, price, place, and promotion). Penelitian ini menggunakan pendekatan kuantitatif bersifat deskriptif analitis. Teknik pengumpulan data dilakukan dengan cara melakukan wawancara dengan divisi-divisi yang terkait dengan pemasaran kartu simpati, product knowledge kartu simpati, website, brosur, dan sebagainya. Tujuan penelitian ini untuk mengetahui tahapan kartu simpati pada daur hidup produk, mengetahui strategi-strategi pemasaran yang telah dijalankan dan mengetahui alternatif strategi pemasaran berdasarkan daur hidup produk kartu simpati. Setelah dilakukan perhitungan menggunakan Metode Polli and Cook, kartu simpati berada pada tahap pertumbuhan. PT. Telkomsel menetapkan strategistrategi pemasaran yang tepat dalam memasarkan kartu simpatinya pada tahap pertumbuhan dan kondisi pasar saat ini.

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Nowadays the emulation between the existing cellular telephone operators increasingly stringency, good of telephone operator that operating on Global System for Mobile ( GSM) network and also operator that operating on Code Division Multiple Access ( CDMA) network. The operators always competes fights over market share. Marketing is inseparable process from company, likewise with telecommunications business. Relates to this thing, each telephone operator seluler must determine correct strategy as effort to fulfills desire, requirement of his consumer and then it can obtain big market share. Applying of correct marketing strategy is aiming that company can stay in tightening it the existing emulation. PT. Telkomsel as telephone operator seluler in Indonesia need to specify correct marketing strategy also, where the existing operators busy to vied with doing price war. Telkomsel with one of his prepaid products, simpati card still enliven this emulation and tries remain to maintains his existing biggest market share. In determining marketing strategy, a company must know step of a product in product life cycle with a purpose to that company can take policy to product in every step, in this case is simpati card product at Telkomsel,. At this research, applied marketing strategy based on product life cycle developed with marketing mix ( product, price, place, and promotion). This research applies quantitative approach had the character of descriptive analyticalness. Data collecting technique is done by the way of doing depth interview with division related to marketing of simpati card, product knowledge simpati card, website, brochure, another literature, etcetera. The purposes of this research are to know simpati card step at product life cycle, marketing strategys which has been implemented and alternative of marketing strategy based on simpati card product life cycle. After done calculation using Polli and Cook Method, simpati card stays at growth stage. PT. Telkomsel specifies correct marketing strategys in marketing his simpati card at growth stage and condition of the existing market.