Event study announcement of fraud and abnormal returns of BUMN companies
Umi Zahrotin Nafisa,
Makaryanawati Makaryanawati,
Haslinda Yusoff
Abstract:This study aims to determine the effect of fraudulent financial reporting of BUMN on abnormal returns. This study is important because most of the research examining these events has been conducted in developed markets. This study uses an event study approach with a window period of five days before and five days after the incident. By using the purposive sampling method, five BUMN companies that were reported to have committed the fraudulent in 2019 was selected in this study. The result shows that the incide… Show more
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