Analisis Reaksi Pasar Modal Pada Peristiwa Pemilihan Gubernur Dki Jakarta Tahun 2017

Pameswari, Ida Ayu Nirma; Wirakusuma, Made Gede

doi:10.24843/eja.2018.v22.i02.p05

Cited by 7 publications

(11 citation statements)

References 5 publications

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“…Many studies have been conducted on political issues in Indonesia. Over the past four years, for example, several studies have linked political events to the stock price reactions (Budiman, 2015;Diniar & Kiryanto, 2018;Katti, 2018;Mansur & Jumaili, 2014;Mentayani, Rusmanto, & Ridhani, 2016;Nabila & Khairunnisa, 2015;Prameswari & Wirakusuma, 2018). The results of these studies have been successful in proving the influence of political events on stock prices.…”

Section: Market Reaction On the Announcement Of Elected President (The 2019 Presidential Election In Indonesia)mentioning

confidence: 99%

“…Some political events have proven to encourage investors to sell or hold their stocks. This activity makes it possible to obtain abnormal returns during the information period as occurred in Indonesia (Budiman, 2015;Diniar & Kiryanto, 2018;Imelda, Siregar, & Anggraeni, 2015;Katti, 2018;Mansur & Jumaili, 2014;Mentayani et al, 2016;Nabila & Khairunnisa, 2015;Prabandari, 2015;Prameswari & Wirakusuma, 2018), Korea (Chiu et al, 2005), Germany (Döpke & Pierdzioch, 2006), United States (Li & Born, 2006), Belgium (Vuchelen, 2003, Canada (Beaulieu et al, 2006), Turkey (Günay, 2016), Pakistan (Nazir et al, 2014), Egypt (Ahmed, 2017), Israel (Zach, 2003, Greece (Koulakiotis et al, 2016), and India (Datta & Ganguli, 2014). The study implies that there are differences in abnormal returns around the 2019 presidential election.…”

Section: Market Reaction On the Announcement Of Elected President (The 2019 Presidential Election In Indonesia)mentioning

confidence: 99%

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Market Reaction on the Announcement of Elected President

Fidiana

2020

JASF

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Investors tend to respond to political events information because they are considered to be supporting or risking the stability of the capital market, so they must immediately make investment decisions quickly. Unlike the election process in other countries, this five-yearly election in Indonesia is not just a regularity of changing authorities but also carries an ideological gamble. The 2019 election as a necessary test for Indonesia related to the issue of communist phobia: between secular and conservative. Different from previous research on political events that focus on the electoral period, this study aims to prove the information content of the presidential announcement in 2019 by using a window period of eleven days, which is five days before and five days after the announcements. Tests were conducted on 45 companies registered as LQ-45 companies in 2019. Different samples of paired tests were done using a paired t sample tool by comparing abnormal returns and the level of stock trading activity. By using various tests, this study proves the existence of significant differences in abnormal returns and trading activities in the period before and after the 2019 presidential announcement. So, it was concluded that the 2019 presidential announcement had information content that had an impact on obtaining abnormal returns for investors. This study also proves that investors respond to information and political events as part of their investment decisions. So that daily transaction fluctuations are indicated by a trend of increasing and decreasing selling and buying actions on a spot time

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Section: Market Reaction On the Announcement Of Elected President (The 2019 Presidential Election In Indonesia)mentioning

confidence: 99%

Section: Market Reaction On the Announcement Of Elected President (The 2019 Presidential Election In Indonesia)mentioning

confidence: 99%

Market Reaction on the Announcement of Elected President

Fidiana

2020

JASF

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“…Informasi non ekonomi terkadang bisa menjadi pemicu adanya reaksi pasar modal. Informasi yang ditimbulkan akibat peristiwa tersebut dapat memberikan pengaruh pada aktivitas yang terjadi di pasar modal, sehingga acap kali para investor menggunakan informasi tersebut untuk mempertimbangkan keputusan investasinya (Prameswari dan Made, 2018).…”

Section: Pendahuluanunclassified

“…Hal ini disebabkan karena ramadhan terjadi setiap sekali dalam setahun sehingga investor sudah memprediksi bahwa pada saat bulan ramadhan perusahaan-perusahaan yang bergerak dibidang transportasilah yang akan memberikan keuntungan. Para investor sudah memprediksi bahwa pada saat bulan ramadhan permintaan akan transportasi mengalami peningkatan yang signifikan dikarenakan banyak masyarakat yang mudik (Prameswari dan Made, 2018).…”

Section: Metode Penelitianunclassified

Reaksi Abnormal Return Dan Trading Volume Activity Sebelum dan Sesudah Ramadhan Effect

Kudusia

Yusuf

Mahmud

2020

jar

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This Research aims to find out the difference between the average of abnormal return and trading volume activity of the transportation companies’ stocks listed in Indonesia Stock Exchange, a period 2014-2018 before and after Ramadhan. The research method is a quantitative method. Th kind of data used is secondary data. The sample is 11 transportation companies listed ini Indonesia Stock Exchange during the period of 2014-2018, while the sampling technique applies purposive sampling. The findings show that there is no difference on the average of abnormal return before and after Ramdahan, and there is no difference on the average of trading volume activity in 2015 and 2018, whereas in 2014, 2016, and 2017 there is a difference on the average of trading volume activity. Meanwhile, the abnormal return and trading volume activity simultaneously influence toward Ramadhan effect with the result of the coefficient determination of 50%, it means that 50% of Ramadhan effect variable is explained by return and trading volume activity.

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“…Kenaikan FFR pada tanggal 26 September 2018 yang telah diprediksi dengan baik oleh pasar menyebabkan peristiwa tersebut tidak lagi relevan sebagai dasar pengambilan keputusan investasi pada periode peristiwa yang dibuktikan dengan tidak adanya signifikansi average abnormal return di sekitar periode peristiwa. Hasil ini didukung oleh beberapa penelitian terdahulu diantaranya Prameswari & Wirakusuma (2018), Cahyaningdyah & Cahyasani (2017), Yuniarthi (2016), Repousis (2016), serta (Lucia et. al.…”

Section: Tabel 4 Hasil One Sample T-test Average Abnormal Return (Aaunclassified

Reaksi Pasar Modal Atas Kenaikan The Federal Funds Rate Pada Tanggal 26 September 2018

Indrayuda

Sukartha

2019

E-Jurnal Akuntansi

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ABSTRAKDalam sistem perekonomian modern peranan pasar modal sangat penting sebagai tempat bertemunya emiten dan investor. Informasi internal dan informasi eksternal sangat diperlukan oleh investor sebagai dasar pertimbangan dalam pengambilan keputusan investasi. Dengan melihat ada atau tidaknya average abnormal return dan average trading volume activity disekitar periode peristiwa, penelitian ini bertujuan untuk meneliti reaksi pasar atas peristiwa kenaikan The Federal Funds Rate pada tanggal 26 September 2018. LQ45 adalah indeks saham yang digunakan sebagai sampel dalam penelitian ini dan metode pemilihan sampel yang digunakan adalah teknik purposive sampling. Penelitian ini menggunakan uji one sample t-test, paired sample t-test, serta uji wilcoxon signed rank test sebagai teknik analisis data. Ditemukannya signifikansi average trading volume activity disekitar periode jendela peristiwa menunjukkan bahwa pasar bereaksi atas peristiwa kenaikan FFR tanggal 26 September 2018. Namun hasil penelitian menunjukkan tidak adanya signifikansi average abnormal return disekitar periode peristiwa. ABSTRACTIn the modern economic system, the role of the capital market is very important as a place where emiten and investors meet. Internal information and external information are needed by investors as a basis for consideration in investment decision making. By looking at the presence or absence of average abnormal returns and average trading volume activity around the event period, this study aims to examine the market reaction to the Federal Funds Rate increase on September 26, 2018. LQ45 is a stock index used as a sample in this study using a purposive sampling technique as a method in sample selection. This study uses one sample t-test, paired sample t-test, and Wilcoxon signed rank test as data analysis techniques. The finding of the significance of average trading volume activity around the event period indicates that the market reacted to the FFR increase on September 26, 2018. However, the results of the study showed no significance of average abnormal return around the event period.

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Analisis Reaksi Pasar Modal Pada Peristiwa Pemilihan Gubernur Dki Jakarta Tahun 2017

Cited by 7 publications

References 5 publications

Market Reaction on the Announcement of Elected President

Market Reaction on the Announcement of Elected President

Reaksi Abnormal Return Dan Trading Volume Activity Sebelum dan Sesudah Ramadhan Effect

Reaksi Pasar Modal Atas Kenaikan The Federal Funds Rate Pada Tanggal 26 September 2018

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