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Journal : Akuntansi Bisnis

Dampak Pengangkatan Kembali Sri Mulyani Indrawati (SMI) Menjadi Menteri Keuangan Negara Republik Indonesia Terhadap Bursa Efek Indonesia (Event Study Pada Sektor Perbankan dan Real Estate) Yuli Agustina
Akutansi Bisnis & Manajemen ( ABM ) Vol 23 No 2 (2016): Oktober
Publisher : STIE Malangkucecwara

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Abstract

The purpose of this study was to see whether there is market reaction on the appointment of returning Sri Mulyani Indrawati (SMI) as Minister of Finance of Indonesia on July 27, 2016 as measured by abnormal return of the company. The population of this study were 92 companies comprising of the entire real estate sector companies as much as 49 and as many as 43 companies of the banking sector. Selection of the sample using purposive sampling which is a non-probability sampling technique by observing certain criteria in accordance with the purpose of research. The criteria in question is a company that has a stock price information as much as 51 days, consisting of 40 days as the estimation period, 5 days before the event, time of event and 5 days after the events announcement of the cabinet reshuffle vol 2, as well as a company that actively conduct sales transactions and purchase of shares (shares not sleep) during the event period. Study determined the final sample is 80 companies. While statistical tool used two different test paired samples (paired sample t-test) with the program PASW Statistics 18. The results obtained from this study showed a difference of capital market reaction before and after the event up again of SMI became finance minister of Indonesia measured abnormal return. At the company's real estate sector, there is a significant reaction obtained on a comparison of the second day before (H-2) with the second day after (H + 2) events, while in the banking sector companies significant reaction obtained on a comparison between the first day before (H -1) with the first day after (H + 1) after the event.
Co-Authors Abdilah, Eka Novianti Abdillah Agustya Siwi Nashiroh Agung Winarno Agung Winarto Agus Purnomo Agus Wibowo Ahmad Fuadi Al Azhar, M. Habib Albar Bari'na, Moch. Yusufa Alfina Tiara Rahmawati Amaliah Rahman Amat Mukhadis Andi Basuki Andi Basuki, Andi Andika Bagus Nur Rahma Putra, Andika Bagus Nur Rahma Andyko, Mohammad Aprilianto, Rhiski Aripriharta - Arlinda Arlinda Aulia Assabilqul Khoiriah Azhar Ahmad Smaragdina Azizah, Hanifatul Bagus Shandy Narmaditya Buyung Adi Dharma Cahyono, Ageng Camelia N. C., Inneke Charlotte Davis Damayanti, Erin Alida Darmawan Satyananda Deby Alief Intan Permata Dewi Masruroh Dewi, Atika Sari Puspita Dwi Ariyani Dyan, Ariska Eko Triatmojo Wibowo Ely Siswanto Evi Susanti Fadia Zen Feby Sheila Anggraini Filianti Filianti Firdaus, M. Imron Fuad Indra Kusuma Habibi, M. Mujtaba Hadi Nur Handayani, Masitah Happy Fitria, Happy Havid Syafwan Heri Pratikto Husnik Maulidya Tungga Dewi Ichwanto, M. Aris Indri Cahya Gunawan Indri Isnaeni Jefri Putri Nugraha Juniar, Wita Ryani Kiki Safitri Kiong, Tee Tze Lisa Rokhmani Ludi Wishnu Wardana Lulu Nurul Istanti Luqmantoro, Septian Dwi M. Mujtaba Habibi M. Rudi Irwansyah Madziatul Churiyah Mariza Agustina Maroeto Maroeto Masruro, Umi Mohammad Arief Mohammad Arief Mohammad Musthofa Al Ansyorie Mokh Sholihul Hadi Ms, Allien Kallala Muhammad Afnan Habibi Muhammad Aris Ichwanto Muhammad Mujtaba Habibi Musafir, Raqqasyi Rahmatullah Nadya Dwi Safitri Netti Marini Nidhom, Ahmad Mursyidun Nirmala, Annisa Najla Ni’mah, Muflihatun Norman Sandi Sugiarto Novia Dian Larasati Nur Ahyani Nur Faridah, Nur Nurdiana, Siti Prayudhila Regita Septiany Prih Hardinto Prohimi, Afwan Hariri Puspasari, Heny Putra Hilmi Prayitno Rama Kurniawan Rhiski Aprilianto Rizha, Muhammad Romadhon, M Zaenul Rosa Firda Sadela Rosalia, Alvina Kevin Rosalina Dhea Anisa Chintya Dewi Rosmeri Saragih Safitri, Nadya Dwi Salsabila, Unik Hanifah Saxena, Rachana Setyowati, Ayu Windah Sheerad Sahid Sholehah, Afidah Yeti Silvia Sella Gesy Soenar Soekopitojo Sri Handayani Subagyo Subagyo Subagyo Subagyo Syahrul Munir Tamara, Alfinda Pinky Tee Tze Kiong Trisetia Wijijayanti Tuwoso Veithzal Rivai Zainal Wilujeng, Ita Prihartining Wita Ryani Juniar Wiwik Wahyuni Yanti, Yunita Dwi Yanuariyanti, Meliyana Yaser Krisnafi, Yaser Yohanes Hadi Soesilo Yulia Ria Dini, Agi Yuliana, Eka Ayu Yusrotul Khasanah, Yosi