Event Study, Teori dan Pembahasan Reaksi Pasar Modal Indonesia

Abstract

Buku ini menyajikan teori dan pembahasan reaksi pasar modal Indonesia terhadap beberapa contoh peristiwa yang dipilih oleh penulis berdasarkan pertimbangan tertentu pada tahun 2016-2018. Penekanan buku ini terletak pada teori dan pembahasan sederhana yang diharapkan dapat membantu para pembaca dalam mengidentifikasi reaksi pasar modal Indonesia terhadap suatu peristiwa. Peristiwa apa saja yang akan dianalisis, bagaimana mekanisma pengujian efisiensi pasarnya, serta apa indikator reaksi pasar dan bagaimana pengukurannya, akan dijelaskan sekilas oleh penulis di bagian Pendahuluan pada buku ini. Bagian lengkap buku ini dapat diunduh melalui Google Play : https://play.google.com/store/books/details/Tarsisius_Renald_Suganda_Event_Study?id=_VF1DwAAQBAJ

Reaksi pasar modal terhadap kebijakan buyback saham tanpa persetujuan RUPS

“…Data yang didapat kemudian diolah untuk mendapatkan abnormal return pada periode peristiwa. Abnormal return diperoleh dari perhitungan actual return, expected return kemudian lanjut dengan abnormal return (Suganda, 2018). Selanjutnya, uji hioptesis dilakukan dengan uji beda paired samples t-test untuk mengetahui apakah memiliki perbedaan rata-rata yang secara nyata atau tidak (Hidayat & Istiadah, 2011;Saragih, 2015).…”

Indonesian Capital Market Reaction to Covid-19 as a Global Pandemic

“…While Hartono (2017) mentions that the event study is a study that learns the market reaction to an event whose information is published as an announcement. Meanwhile, according to Suganda (2018), the event study is a study conducted empirically to analyze the impact of events on the capital market of a country. In other words, the study was conducted to investigate the capital market reaction to an event.…”

“…The purpose of the event study, as mentioned by Suganda (2018), particularly in the testing of market efficiency, was used to test the market efficiency of semi-strong forms. Besides, Hartono (2017) mentions that the event study can also be used to test the information content of an event or announcement.…”

“…Certain information or events can trigger the movement of stocks in the capital markets that will affect the supply and demand of stocks. TVA is a sale of every transaction occurring on stock exchanges at a specific time for a particular stock and is one of the factors that also affect the movement of stocks (Suganda, 2018). Imelda et al (2014) conducted research on abnormal returns and trading volume activity in the Indonesian Stock Market in Relation to the Presidential Elections.…”

“…A study was conducted to investigate the capital market reaction to an event called event study (Suganda, 2018). If the event contains information, then it is indicated by the price change of the relevant securities.…”