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All Journal Jurnal Akuntansi Indonesia BJRA (Bongaya Journal of Research in Accounting) Jambura Accounting Review Mandalika Mathematics and Educations Journal Jurnal Revenue : Jurnal Ilmiah Akuntansi INVOICE : JURNAL ILMU AKUNTANSI Indo-MathEdu Intellectuals Journal Muhasabatuna: Jurnal Akuntansi Syariah Jurnal Iqtisaduna MATHEMATIC EDUCATION AND APLICATION JOURNAL (META) AKUNSIKA: Jurnal Akuntansi dan Keuangan Seminar Nasional Pengabdian Kepada Masyarakat Liabilitas : Jurnal Ilmiah Akuntansi dan Ekonomi Jurnal Pengabdian Sains dan Humaniora Indo-Fintech Intellectuals: Journal of Economics and Business Jurnal Ilmiah Akuntansi dan Keuangan (JIAN) Journal of Mathematics and Applied Statistics Research and Innovation in Applied Linguistics Future Academia : The Journal of Multidisciplinary Research on Scientific and Advanced Jurnal Sistem Informasi, Akuntansi dan Manajemen Almufi Jurnal Sosial dan Humaniora Jurnal Ekonomi, Manajemen, Akuntansi
Anwar, Azwar
Unknown Affiliation
Religion Arts Humanities Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Mathematics Social Sciences Other

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Journal : Jurnal Iqtisaduna

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Boikot Produk Unilever: Adakah Dampaknya Terhadap Return Saham PT Unilever Indonesia? Fitriza Rahma; Anwar, Azwar; Oktaviyah, Nurafni
Jurnal Iqtisaduna Vol 10 No 2 (2024)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/iqtisaduna.v10i2.52474

Abstract

The boycott campaign, actively promoted by the predominantly Muslim population in Indonesia, is seen as a form of solidarity with the Palestinian people and a response to the Indonesian Ulema Council (MUI) Fatwa Number 83 of 2023. This campaign has led to a decline in stock prices and returns for the targeted companies. This article aims to examine the impact of the boycott campaign against Unilever products on the stock returns of PT Unilever Indonesia before and after the issuance of MUI Fatwa Nmber 83 on November 8, 2023, which serves as the event date (t-0). A quantitative comparative approach was employed using time series data and probability sampling methods, specifically systematic sampling. The sample consists of weekly closing stock prices from observation windows ranging from t-30 to t+30, t-20 to t+20, and t-10 to t+10 around the event date. Data analysis was conducted using statistical tests, including normality tests, paired sample t-tests, and wilcoxon signed-rank tests. The results indicate no significant differences during the analyzed periods, suggesting that the boycott campaign had no substantial effect on stock returns before and after the issuance of MUI Fatwa Number 83 of 2023. This reflects the strength of brand loyalty, the stability of the Fast Moving Consumer Goods Industry, and market perception that remains unaffected by the negative signals from the boycott.
Co-Authors Achmad, Andi Alyani Albar, Saskia Apriliyana, Nur Pangesti Athiyah, Nikmatul Azis, Fajriani Darmayasa, Jero B Dunakhir, Samirah Eppendi, Jhoni Fauzia, Annisa Firima Zona Tanjung, Firima Zona Fitriza Rahma Hamid, Hariaty Hamzah, Hajrah Handayani, A. Asti Hermansyah Hermansyah Johan Johan LAKSANA, Jamie Anugerah Keeyan Lena, Natal Luti Junillah, Andi Maghfirah, Annesa Tasya Margawari Novel Masri, Alifiah pratiwi Mestralitiani Saleda Limbong Muhammad Azis Mukhammad Idrus Musa, Kartika S.P. Nining Purwanti, Nining Nur Afiah, Nur Nurafni Oktaviyah Nuraisyiah Putri, Asty Regina Putriyanti, Andi Iin Nur R, Marwah Ramadani, Fiska Anugrah Ramadhani, Febrina Nur Ramadhani, Laila Kamila Rasul, Imra Ukhriana Rasyidah Rasyidah S, Masnawaty Sahade Saipullah, Muhammad Salasa, Firda Samsinar Samsinar Sangkala, Masnawaty Shinta Wulandari, Shinta Siti Nuraeni, Siti Sri Wahyuni Suharni Syaibah, Siti Warka Syachbrani Widyawati, Eka Winarno Winarno Yoshita, Rika Yulyana, Yulyana