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All Journal Jurnal Akuntansi Bisnis
Michael Octavian Tjoa
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Economics, Econometrics & Finance

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Menguji Respon Pasar dan Fundamental Keuangan Emiten Otomotif Pasca-Pengumuman Kebijakan Insentif Kendaraan Listrik Michael Octavian Tjoa
Jurnal Akuntansi Bisnis Vol 24, No 2: September 2026
Publisher : Universitas Katolik Soegijapranata Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24167/jab.v24i2.16184

Abstract

This study examines the impact of Presidential Regulation No. 55 of 2019 regarding electric vehicle tax incentives on the market and financial performance of automotive companies listed on the Indonesia Stock Exchange. Market performance was evaluated using abnormal return and trading volume activity, while financial performance was measured through revenue and EBITDA growth. Using purposive sampling, 10 companies were selected and analyzed via paired sample t-test and Wilcoxon signed-rank test. The results show that the policy announcement did not trigger a positive market reaction, as abnormal returns and trading activity did not increase significantly. Furthermore, no significant growth was observed in corporate revenue or profits. These findings imply that the market did not perceive the regulation as a strong investment signal, and companies have yet to translate the policy into financial gains.
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