Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal Kompartemen : Jurnal Ilmiah Akuntansi
Flavian Naretius Gunawan
Universitas Ma Chung
Economics, Econometrics & Finance

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
The Political Effect on Indonesia's Stock Market from "Peringatan Darurat" Demonstration” Rhenaldy Pius Wicaksono; Flavian Naretius Gunawan; Tarsisius Renald Suganda; Rino Tam Cahyadi
Kompartemen : Jurnal Ilmiah Akuntansi Vol. 23 No. 2 (2025): KOMPARTEMEN, Vol 23 No 2, September 2025
Publisher : Universitas Muhammadiyah Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30595/kompartemen.v23i2.27175

Abstract

This study investigates the market reaction to the "Peringatan Darurat" demonstration in Indonesia, triggered by political unrest, focusing on its impact on the Indonesia Composite Index (IHSG) using the INFOBANK 15 index as the sample. Political demonstrations are external events that may influence investor behavior and market dynamics. The Infobank 15 index is selected for its representation of companies with large market capitalizations and high trading liquidity, primarily from the banking sector, which plays a central role in the economy. An event study approach is used to analyze abnormal returns and trading volume activity (TVA) as proxies for market reaction. Results show a significantly positive abnormal return during the event window, indicating that the market interpreted the demonstration as containing positive informational value. However, TVA during and after the event did not show significant differences, suggesting minimal impact on trading activity. These findings imply that the Indonesian capital market reacts to political events but perceives the "Peringatan Darurat" demonstration as a routine occurrence with limited long-term impact on market stability.
Co-Authors Rhenaldy Pius Wicaksono Rino Tam Cahyadi, Rino Tam Tarsisius Renald Suganda