Analysis of the Capital Market Reaction to the First Java-Bali Community Activity Restriction Policy Announcement Event (Case Study of Food and Beverage Companies Listed on the Indonesia Stock Exchange)
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 01
Abstract
This research is an event study that aims to analyze the reaction of the capital market to the announcement of the Pemberlakuan Pembatasan Kegiatan Masyarakat Jawa-Bali (PPKM Jawa Bali) based on abnormal returns and trading volume activity. The data in this study are secondary data with quantitative data types. The population in this study includes 28 Food and Beverage companies listed on the IDX with the window period taken in the study being 5 days before and after the PPKM Jawa Bali Policy Announcement. In the statistical test analysis, this study used a paired sample t-test difference test because the prerequisites for the different tests, namely the data in the study were normally distributed, were met. The results of the paired sample t-test analysis significantly was not found to be different in Average Abnormal Return (AAR) and Average Trading Volume Activity (ATVA) before and after the PPKM Jawa Bali Policy Announcement event, was not found of differences in the study, which give us a conclusion that the PPKM Jawa-Bali Policy Announcement event did not have a certain information content so that the capital market did not react to the policy.
Authors and Affiliations
Erni Suci Budi Rahayu, Abdul Malik Kumar
Keywords
Related Articles
- EP ID EP726679
- DOI 10.47191/jefms/v6-i1-20
- Views 71
- Downloads 0
The Effect of Earning Per Share, Return on Assets, Return on Equity, Debt to Equity Ratio on Stock Prices (Study on Cigarette Companies Listed on the Indonesian Stock Exchange for the Period 2015-2017)
This study aims to determine partially, simultaneously and dominantly the effect of Earning Per Share (EPS), Return On Assets (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER) on Stock Prices in Cigarette Compani...
Quality Analysis of Profit at Pdam Tirta Anoa Kendari City
The purpose of this study was to determine the quality of earnings at PDAM Tirta Anoa Kendari City was adequate. The type of data used in this research is qualitative data. Sources of data used in this study primary data...
The Influence of Education and Training on the Performance of Military Personnel Through Competencies at RSAU Dr. M. Munir
The aim of this research is; 1) To describe the variables of education and training, competence and performance of military personnel at RSAU dr. M. Munir; 2) To analyze the effect of education and training on the compet...
Strengthening Business Innovative Solutions through Economic Dimensions of Sustainability: A Literature Review
Objectives: This research study aims to explore the potential role of sustainability development goals as an accountability mechanism and to one sector that is needed because a depth and flexibility required with a new p...
Evaluation of the Effect of Transnational Migrant Remittance, Investment, and Knowledge Transfer on Cultural Exchange in Ghana
The primary objective of this study is to investigate transnational migrant remittance, investment and knowledge transfer on cultural exchange. To achieve this aim, a survey research approach was employed to gather data...