Abstract
This study aims to determine market reaction in the event of simultaneous regional elections in 2018. This research is an event study with a period of observation for 7 days. The study was conducted on companies classified as LQ45 from February to July 2018. The population in this study was 45 companies. The method of determining the sample used is a non probability sampling method with a purposive sampling technique. The sample obtained was 37 companies. The market reaction to the 2018 simultaneous regional elections was measured using abnormal return and trading volume activity. The data analysis technique used is paired-sample t-test. The test results show that there is no difference in average abnormal return and trading volume activity before and after the events of simultaneous regional elections. This shows that simultaneous regional elections in 2018 did not cause market reaction because there was no information content on the event.
 Keywords: Event study, abnormal return, politics
Highlights
This study aims to determine market reaction in the event of simultaneous regional elections in 2018
Analisis Perbedaan Abnormal Return Dan Trading Volume Activity (TVA) Sebelum Dan Sesudah Internet Financial Reporting (IFR) (Event Study Pada Saham LQ45 Yang Terdaftar Di Bursa Efek Indonesia Periode Agustus 2015 – Juli 2016)
Summary
Hasil pada Gambar 2 menunjukkan bahwa pergerakan rata-rata trading volume activity cukup fluktuatif selama 7 hari periode peristiwa. Tabel 3 di atas menjelaskan bahwa, untuk rata-rata abnormal return sebelum peristiwa Pilkada serentak tahun 2018 memiliki nilai terendah -0,044331 dan nilai tertinggi 0,024850 dengan nilai mean sebesar -0,005127. Tabel 4 di atas menjelaskan bahwa, untuk rata-rata trading volume activity sebelum peristiwa Pilkada serentak tahun 2018 memiliki nilai terendah 0,000181 dan nilai tertinggi 0,004579 dengan nilai mean sebesar 0,001504. Ini berarti ratarata trading volume activity terkecil dari 36 perusahaan yang dijadikan sampel diperoleh oleh perusahaan Chandra Asri Petrochemical Tbk. sebesar 0,000181 dan rata-rata trading volume activity terbesar diperoleh oleh perusahaan Sawit. Ini berarti rata-rata trading volume activity terkecil dari 36 perusahaan yang dijadikan sampel diperoleh oleh perusahaan Chandra Asri Petrochemical Tbk. sebesar 0,000097 dan rata-rata trading volume activity terbesar diperoleh oleh perusahaan Bumi Resources.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
