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All Journal E-Jurnal Akuntansi
I Gusti Ayu Indah Kartika Dewi
Faculty of Economics Business Universitas Udayana, Indonesia
Economics, Econometrics & Finance

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Market reaction to Ministry of Transportation Regulation Number PM/13/Tahun/2021 for Transportation and Logistics Companies I Gusti Ayu Indah Kartika Dewi; Maria Mediatrix Ratna Sari
E-Jurnal Akuntansi Vol. 33 No. 7 (2023)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/

Abstract

The research aims to find out whether there is a market reaction to the announcement of the Minister of Transportation Regulation Number 13 of 2021 concerning transportation control during the Eid al-Fitr period. The market reaction in this research is seen from the abnormal return obtained from the difference between the expected return and the realized return. Expected return in research is estimated using the mean-adjusted model. The research was conducted using the event window for 7 days, namely 3 days before the event date, on the event date, and 3 days after the event. Based on the test results, it was obtained that the results of the announcement of the Ministry of Transportation Regulation Number 13 of 2021 did not get a reaction from the market, which was indicated by the cumulative abnormal return which was not significant during the observation period.
Co-Authors Maria Mediatrix Ratna Sari