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All Journal E-JURNAL AKUNTANSI
Ni Luh Dea Kemuning
Fakultas Ekonomi dan Bisnis Universitas Pendidikan Nasional, Indonesia
Economics, Econometrics & Finance

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Reaksi Pasar terhadap Peristiwa Politik 2019 di Indonesia Ni Luh Dea Kemuning; Ida Bagus Teddy Prianthara; I Made Andika Pradnyana Wistawan
E-Jurnal Akuntansi Vol 31 No 7 (2021)
Publisher : Accounting Department, Economic and Business Faculty of Universitas Udayana in collaboration with the Association of Accounting Department of Indonesia, Bali Region

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2021.v31.i07.p11

Abstract

This study examines the information content in political events in 2019, namely the appointment of the president and vice president and the announcement of the Kabinet Indonesia Maju. Market reaction is measured by abnormal returns, security return variability, and trading volume activity. The observation period in this study was five days before and after the event, with a sample of 20 companies affiliated with the winner of the election and 25 companies at the announcement of the Indonesian Maju Cabinet. The results of hypothesis testing indicate that there is a difference in the average abnormal return in the event of the appointment of the elected president and vice president, but there is no difference in security return variability and trading volume activity. Furthermore, hypothesis testing shows that there is a significant difference in average trading volume activity before and after the announcement of the Kabinet Indonesia Maju, but there is no difference in abnormal return and security return variability. Keywords: Market Efficiency; Event Studies; Abnormal Returns; Security Return Variability; Trading Volume Activity.
Co-Authors Anak Agung Gde Putu Widanaputra Ida Bagus Teddy Prianthara