Darlis, EdfanSyafei, Jasmina2015-03-112015-03-112015-03-11wahyu sari yenihttp://repository.unri.ac.id/xmlui/handle/123456789/6826This research is an empirical research about the sophistication of investors of the accuracy of the market reaction in response to announcements of dividend increases. The main purpose of this study was to examine the impact of investors towards the perfection of market reaction thoroughness in responding to the announcement of dividend increases in the Indonesia Stock Exchange. Where the results of this study is expected to add insight and knowledge about the effect of investor sophistication of the accuracy of the market reaction in response to announcements ofdividend increases. This study uses event study to analyze the elject of investor sophislication of the accuracy of the market reaction in response to announcements of dividend increases. The results of this study indicate that there was no effect of investor sophistication of the accuracy of the market reaction in response to announcements of dividend increases in the Indonesia Stock Exchange.enUR-Scientific Work Lecturer