Abstract
This study aims to test whether the event of the announcement of the first confirmed case of COVID-19 in Indonesia on March 2, 2020 affected the Indonesian stock market. A total of 119 samples used in this research event study were taken from the share prices of banks, transportation, and consumer good companies listed on the Indonesia Stock Exchange during the 21-day estimation window. The samples were taken using purposive sampling techniques and then the data was analyzed using the Statistical Package for the Social Sciences (SPSS) ver. 28. One Sample Kolmogorov-Smirnov test is used as a data normality test and hypothesis testing is conducted using the Paired-Sample Wilcoxon Signed Rank test. The results showed that there was no significant difference in the average abnormal return of transportation companies and banks before and after the announcement of the first confirmed case of COVID-19 in Indonesia. Meanwhile the average abnormal return of consumer goods companies showed significant difference before-after the first confirmed case of COVID-19 in Indonesia is announced.
Sign-in/Register to access full text options 
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 callMore From: International Journal of Application on Economics and Business
Disclaimer: 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.
