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All Journal E-Jurnal Akuntansi
Ni Made Dini Hari Putri
Faculty of Economics and Business, Universitas Udayana, Indonesia
Economics, Econometrics & Finance

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Stock Market Reaction to the Announcement of Law Number 7 of 2021 Regarding Harmonization of Tax Regulations Ni Made Dini Hari Putri; Ida Bagus Putra Astika
E-Jurnal Akuntansi Vol. 34 No. 1 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2024.v34.i01.p06

Abstract

The announcement of the implementation of government policy, specifically tax reformation policy, indicates a shift in tax management and the amount of tax obligations that must be borne. The purpose of this study is to demonstrate empirically that the capital market reacted to the announcement of the implementation of Law Number 7 of 2021 concerning the harmonization of tax regulations. This research is an event study with an event window of 7 trading days. This research was conducted at the Indonesia Stock Exchange, with a total population of 728 companies. Samples were taken using a proportioned stratified random sampling technique of 258 companies. The analysis technique used is the one-sample t-test on the cumulative abnormal return (CAR). The test results show that there is no market reaction as seen from the absence of significant abnormal returns around the event date.
Co-Authors Ida Bagus Putra Astika