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P. D'Yan Yaniartha Sukartha
Faculty of Economics and Business, Universitas Udayana, Indonesia
Economics, Econometrics & Finance

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The Indonesian Capital Market's Response to the 2024 Simultaneous Elections Pande Gede Bagus Armana Putra; P. D'Yan Yaniartha Sukartha
E-Jurnal Akuntansi Vol. 34 No. 12 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2024.v34.i12.p02

Abstract

This study aims to examine the reaction of the Indonesian capital market to the 2024 simultaneous general elections. The analysis is based on a sample of 764 companies, with key measurements including abnormal return and cumulative abnormal return. The methodologies employed consist of descriptive statistical tests, one-sample t-tests, and paired t-tests. The results from the first hypothesis test reveal a significant abnormal return on the first and third days following the 2024 simultaneous elections. Additionally, the second hypothesis shows a significant difference in cumulative abnormal returns before and after the elections. These findings suggest that the 2024 general elections provided market-relevant information, leading to a measurable reaction in the Indonesian capital market
Co-Authors Pande Gede Bagus Armana Putra