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All Journal Jurnal Ekonomi Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) Journal The Winners JAM : Jurnal Aplikasi Manajemen Journal of Degraded and Mining Lands Management Jurnal Manajemen Atma Jaya Binus Business Review E-Dimas: Jurnal Pengabdian kepada Masyarakat Hasanuddin Economics and Business Review JPM (Jurnal Pemberdayaan Masyarakat) Martabe : Jurnal Pengabdian Kepada Masyarakat Jurnal Akuntansi Minda Baharu Referensi : Jurnal Ilmu Manajemen dan Akuntansi Agroekoteknologi Tropika Lembab Review of Management and Entrepreneurship INTEGRITAS : Jurnal Pengabdian Jurnal Muhammadiyah Manajemen Bisnis (JMMB) Wiga : Jurnal Penelitian Ilmu Ekonomi New Language Dimensions Journal of Applied Agricultural Science and Technology Journal of International Conference Proceedings JPMA Innovative: Journal Of Social Science Research JS (Jurnal Sekolah) Social Science Academic Acta Solum Jurnal Manajemen Maranatha
Sumani .
Universitas Katolik Indonesia Atma Jaya
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Journal : Journal The Winners

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Abnormal Return Analysis Before and After General Election in Asia Steven Lesmana; Sumani
The Winners Vol. 23 No. 2 (2022): The Winners
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/tw.v23i2.7083

Abstract

The research aimed to examine the capital market`s reaction to political events as seen from the abnormal return using the event study concept. Since there are conflicting results of similar previous studies, further research is needed. The research used event study methods, cumulative average abnormal return (CAAR) to compare abnormal returns during the general election. The research intended to compare stock market activities where there are general elections in four countries in Asia which conduct general elections every five years, and with the condition that the general elections in those countries must be completed within one day. The calculation was carried out on the stock index`s daily data representing the country in the last five events general elections in each country. The research used an estimated period of 120 days and a time of observation of 33 days. Research shows no significant difference between the average abnormal returns before and after the general election event in the last five events for all the countries tested. It can occur due to various factors, such as the anticipation made by investors, investors' behavior, and the amount and speed of information circulating. Further research is required to find out the form of the country`s efficient market.
Co-Authors Afandi, Mochammad Farid Ahmad Roziq AKTAVIA HERAWATI Arika Indah Kristiana Aris Wuryantoro, Aris Azizah, Zakiyah Lina Nur Budi Nugroho, Yohanes Arianto Budiastuti, Maria Theresia Sri Cempaka Paramita, Cempaka Christiana Fara Dharmastuti, Christiana Fara Christine Winstinindah Sandroto Dwi Priyo Ariyanto Dwinita Laksmidewi Dwinita Laksmidewi, Dwinita Ema Desia Prajitiasari Eveline Kusuma Fitriana, Ummi Nur Ganjar Herdiansyah, Ganjar Haqi, Roikha Nurul Hardian, Tiara Hengky Sulaiman Ika Barokah Suryaningsih Intan Nurul Awwaliyah Irmawati, Viviana Istiqomah, Nanda Mei Jaka Suyana Kartikasari, Dyah Kenneth, Sean Komariah Komariah Limawan , Tamara Letitia Lokaprasidha, Pramesi Madyakusumawati, Synthia Mahdani, Sutheta Putra Markilah, Markilah Marmono Singgih Maro’ah, Siti Michael Dimitri Mujiyo Mujiyo Nanik Setyowati Nugroho, Emanuel Yakobus Prasetyo Nugroho, Yohanes Arianto Budi NURDIN, DJAYANI Prasetya, Ignatius Bryan Putri, Rizky Atika Salsabila Ivabianca Ramadhan, Sandy Fajar Retno Rosariastuti Reza Suleman Rilo Pambudi Rony, Zahara Tussoleha Sabda Risky Juliana Safira, Firjin Siti Saadah Sri Hartati Steven Lesmana Surachman, Rinta Faradila Susanto, Arnis Budi Sutarno Sutarno Syahputri, Hilda Mega Syahputri, Vika Uriel Kafka Lungguran Wahyuningsih, Unik Washil, Moh. Zadul Wenny Chandra Widhiyastuti, Alfia Nisa Widodo, Roni Winstinindah Sandroto, Christine Winstinindah-S, Christine Wistinindah S, Christine Yasintha Soelasih Yuanisyah, Risma Febrian Yudapratama, Ammar Firdausi Yuli Kuswardani, Yuli Yulianti, Anita Zefanya, Okaria Nathalie