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All Journal ASEAN Marketing Journal Journal of International Conference Proceedings Eduvest - Journal of Universal Studies
Wulandari, Permata
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Aerospace Engineering Humanities Computer Science & IT Decision Sciences, Operations Research & Management Electrical & Electronics Engineering Health Professions Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Neuroscience Social Sciences

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Journal : Journal of International Conference Proceedings

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The Effect of Covid-19 Pandemic on Stock Returns: An Evidence of Indonesia Stock Exchange Mugiarni, Ajeng; Wulandari, Permata
Journal of International Conference Proceedings Vol 4, No 1 (2021): Proceedings of the 9th International Conference of Project Management (ICPM) Mal
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v4i1.1122

Abstract

The pandemic Covid-19 caused panic not only in health sectors but also weakened the world’s economy. The stock market, as one of the barometers of the economy, was hit by the pandemic Covid-19. The impact of Covid-19 on the stock market provides a signal for investors. Stock returns are what investors look for when investing in stocks. Returns on the stock exchange respond to several events, one of which is the news about health related to the Covid-19 pandemic. This study aims to seek whether the Covid-19 outbreak affects stock returns in Indonesia Stock Exchange. Using daily data of Covid-19 confirmed case, daily data of Covid-19 death cases, and stock returns data in Indonesia from January 2, 2020, to December 31, 2020. The panel-data regression model is used to estimate the result of the study. This study shows that stock returns in Indonesia Stock Exchange respond negatively significantly as the number of confirmed cases increases also stock returns in Indonesia respond negatively significantly to the daily growth of death cases. This study also finds that stock return in consumer goods and basic chemical industry were the impacted industries caused by pandemic Covid-19. Empirical findings could be used for the practitioner to consider investing in the stock market to avoid the significant impact of such outbreaks in the future.
Merger and Acquisition Analysis in Creating Value for Shareholders in The Infrastructure and Utility Sector Widianova, Valentina Hemas; Wulandari, Permata
Journal of International Conference Proceedings Vol 4, No 1 (2021): Proceedings of the 9th International Conference of Project Management (ICPM) Mal
Publisher : AIBPM Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32535/jicp.v4i1.1136

Abstract

Trough 20 – years period their merger and acquisition (M&A) in sector infrastructure and utilities are the pledge of the most country in the world, especially in Asia with most emerging countries. This study aims to know the relation about M&A activities to value shareholders in infrastructure and utilities sector in during last 20 years and year of crisis in 2020. Observe for acquire and target companies using event study approach to find Cumulative Average Abnormal Return (CAAR) on M&A activities that represent the value for the shareholders. Set event window for 31 days, consist of 15 days before the announcement and 15 days after announcement. Using sample of listed companies who making acquisition activities in Asia which size of the deal above USD 30 million. The result shows that the acquirers give positive CAAR that statistically significant 10% and the targets give positive CAAR statistically significant 5 %. The target company has higher cumulative abnormal average return than the acquirer company. Then M&A activity during crisis shows that for acquirer give positive not significant CAAR with 4,6% abnormal return and target give positive CAAR 3.4% but not significant. The target gives higher CAAR positive for t-15 to t+7 than the acquirer.
Co-Authors Augustin, Eldest Dewi, Tri Kartika Hafidzoh, Qonitatun Hutabarat, Rendra Hymne Fajar Mahaganti, Fergie S Mugiarni, Ajeng Nilakurnia, Roswita Pradana, Fadly Eka Pramasanti, An Nisa Rifelly Dewi Astuti Rohmana, Lailiya Saragih, Tarimantan Sanberto Supriadi, Arief Dahyan Tengku Ezni Balqiah Widianova, Valentina Hemas