Reaction of Indonesian Capital Market Investors to the Implementation of Tax Amnesty
Journal Title: Jurnal Keuangan dan Perbankan - Year 2017, Vol 21, Issue 4
Abstract
This study was an event study that aimed to find empirical evidence of the reaction of Indonesian capital market investors towards the implementation of tax amnesty. The population of this study was consisting of sectoral indexes listed on the Indonesia Stock Exchange during the study period. The data used were secondary data in the form of daily sectoral index five days before and five days after the event. The statistical test used to test the hypotheses was paired sample t-test. The result showed that there was no significant positive abnormal return in the period around the event date, as well as the period between the pre-event and event date of the tax amnesty implementation. The result also proved that there was no significant difference between the average trading volume activity in the period between pre-event and event date, event date and post event, and pre-event and post event of the tax amnesty implementation. In general, it can be concluded that investors did not respond to the events of the tax amnesty implementation as good news.
Authors and Affiliations
Agung Wibowo, Susetyo Darmanto
Keywords
Related Articles
- EP ID EP418369
- DOI -
- Views 82
- Downloads 0
Leverage, Asymmetric Information, Firm Value, and Cash Holdings in Indonesia
This research aimed to analyze the effect of leverage and asymmetry information on the firm value through cash holding as mediation variable. The populations of this research were all the firms which listed on the Indone...
LOYALITAS NASABAH DAN KINERJA PERBANKAN DI INDONESIA
The purpose of this study was to investigate the impact of customer loyalty on firm performance in the banking industry in Indonesia. This study used a sample of banking firms listed on the Indonesian Stock Exchange. The...
Testing marketing expenses role on the relation between leverage and performance
Marketing expenses usually one of the most important costs for the companies, but still a few research in finance discussing this. The previous study still inconsistent about the role of marketing expenses as a moderator...
Board Characteristics and Accounting Performance in Banking Industry: The Indonesian Experience
This paper examines the effect of board characteristics on accounting return in the Indonesian banking industry. The conceptual framework borrows from agency theory claiming that the board is held liable for monitoring r...
MEDIATION OF CSR AND PROFITABILITY ON THE INFLUENCES OF GCG MECHANISMS TO THE FIRM VALUE
The purpose of this research was to determine the causal relationship among GCG mechanism, financial performance, CSR and firm’s value. The model of the research was constructed by using financial performance and CSR as...