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 108
- Downloads 0
Strategic Management Accounting disclosure, ownership structure, and firm characteristics in Indonesia manufacturing companies
Why managers should choose to disclose their information with investors is one of the major issues in accounting research. Because of information asymmetry and the agency problem, disclosure is an important aspect of the...
PENILAIAN SAHAM PT PEMBANGUNAN PERUMAHAN PROPERTI DALAM RANGKA INITIAL PUBLIC OFFERING
This research aimed to estimate fair value per share of PT Pembangunan Perumahan Property Tbk. as a comparison value to the offered price, set at the time of Initial Public Offering (IPO). This research also aimed to det...
Determinants of capital adequacy ratio on banking industry: Evidence in Indonesia Stock Exchange
Capital adequacy ratio (CAR) is an important indicator of bank safety sustainability. Banks that can guarantee CAR means the bank has the power to resist the financial crisis, protecting the bank itself and funds from de...
SEMAKIN BERAGAM SEMAKIN BAIK? ISU KEBERAGAMAN GENDER, KEUANGAN, DAN INVESTASI PERUSAHAAN
This research aimed at investigating the impact of gender diversity on financial performance and investment efficiency in public companies listed in Indonesia Stock Exchange. As there was an increase in the number of wom...
The optimal cash holdings speed of adjustment and firm value: An empirical study in Indonesia
This study employs two models of the speed of cash holdings adjustment to measure the effect of cash management on firm value, they are the deviation standard cash holding model and partial speed of adjustment model. Usi...