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Journal : JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi)

WHAT IS THE CAPITAL MARKET REACTION TO THE BOYCOTT ANNOUNCEMENT? Pertiwi, Dian; Sejati, Fajar Rina
JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi) Vol 10, No 2 (2024): Vol 10, No. 2 (2024)
Publisher : Universitas Pakuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34204/jiafe.v10i2.10810

Abstract

ABSTRACT This study examines the information content of boycott announcements with abnormal returns and trading volume activity as indicators. Companies in the primary consumer goods sector comprise the study population, and 47 samples were obtained after being selected through purposive sampling techniques. Data were tested using a one-sample t-test, a Wilcoxon signed ranked test, and a paired t-test. The results show a negative market reaction around the time of the boycott announcement and a difference in abnormal returns before and after the announcement. However, trading volume activity does not show a significant difference. The implication of this study is to add theoretical evidence to event studies related to testing the information content of boycott announcements. In addition, the study's results can provide insight for investors in interpreting an event such as a boycott action that is responded to as a negative signal. ABSTRAK Penelitian ini menguji kandungan informasi pada pengumuman boikot dengan return taknormal dan aktivitas volume perdagangan sebagai indikator. Perusahaan sektor barang konsumen primer menjadi populasi penelitian dan diperoleh 47 sampel setelah dipilih melalui teknik purposive sampling. Data diuji dengan one sample t-test, wilcoxon signed ranked test, dan paired t-test. Hasil menunjukkan bahwa terdapat reaksi pasar negatif disekitar waktu pengumuman boikot serta terdapat perbedaan return taknormal sebelum dan setelah pengumuman. Namun demikian, aktivitas volume perdagangan tidak menunjukkan perbedaan signifikan. Implikasi penelitian ini adalah menambah pembuktian teori pada studi peristiwa terkait pengujian kandungan informasi pada pengumuman boikot. Selain itu, hasil penelitian dapat menjadi wawasan bagi investor dalam menafsirkan sebuah peristiwa seperti aksi boikot yang direspon sebagai sinyal negatif.
Co-Authors A.A. Ketut Agung Cahyawan W Abdul Muis Abdul Rasyid Adawiyah, Asrindah Nur Adonia Getse Halel, Adonia Getse Adrial Adrial, Adrial Afdal Afdal, Afdal Afrian Raus, Afrian Afriwardi Afriwardi Aisyah Elliyanti Albadi Sinulingga Albayani, Ali Akbar Aldrin Akbar, Mohammad alfi husni, alfi Almurdi Almurdi Alvianita Gunawan Putri Anggrainy, Fenty Anggreini, Oktafia Reza Apriningsih, Apriningsih Apriningsih Arief, Muhammad Arina Widya Murni Astuti, Hesty Widi Aswiyanti Asri Bambang Setia Wibowo Beatrix Trikurnia Gasong, Beatrix Trikurnia Bobby Indra Utama Budhima, Kukuh Danu Citra Manela Deddy Saputra Dessy Arisanti Dia Rofinda, Zelly Dia Djati Mardiatno Doni Marisi Sinaga, Doni Marisi Edwido Leonori Saputra Efiariza, Nurul Navela Efrida Efrida, Efrida Elizabeth Bahar Elmatris Sy Endrinaldi Endrinaldi Entar Sutisman Eti Yerizel Ety Yerizel Eviyanti, Novitasari Fadhillah, Ilham Arief Fadita, Puteri Ayudia Farida Arianti Fitri Fitri Fitri, Hidayati Habibah, Septiara Nur Hanum, Fathiya Juwita Hardisman Hasmiwati Hastiwi, Antika Heni Hendra Permana Hendriati, Hendriati Hidayah, Sukma Nurul Hidayat, Ishak Hirowati Ali, Hirowati Husnil Kadri Husnil Wardiyah Ibrahim, Muhdi B. Hi. Ikhsan, Farid Jaalussalam, Ejen Jacky Munilson Jasman, Putri Elica Julizar Julizar Julizar Julizar Kamil, Roky Insan Karmala, Estiana Tri Kartim, K. Kencana, Gita Lestari, Rahmi lina, Ros Litriani, Erdah Lucinda Patesia Amada Rumadas Maghfira, Saadatul Mahata, Liganda Endo Makatita, Grace Gloria Makkiyah, Feda Anisah Makom, Maharani Rona Mariani, Siti Mark Gregory Robson, Mark Gregory Masampe, Ranny Masnadi, Nice Rachmawati Maya Panorama, Maya Mohamad Reza Mustava, Indriani Dini Mutaqin, Bachtiar W. Nastiti, Intan Aulia Ninis Agustini Nofrianti, Mami Noverial, Noverial Novita A., Devy Nur Azlina Nurhajjah, Sitti NURJANAH " Prima Astuti Handayani Purwanjani, Wahyu Puspitasari, Linda Intan Rahayu, Indah Rahmat Syawqi Rahmatika, Annisa Ratuna, Maharani Rauza Sukma Rita Reza, Mohamad Ridhwasyah Pasolo, Muhammad Rika Susanti Rima Semiarty Rina Gustia Rinang Mariko, Rinang Rini Gusya Liza, Rini Gusya Rismawati, Puput Romlah Roza Mulyana Sahrul Ponto Saleha Rodiah Sari, Ramadhanita Mustika Sarmen Aris Savitri, Melvinia SEJATI, FAJAR RINA Shanti Darmastuti Silvia, Nelmi Sofia Achnes Suprayitno Suprayitno Syahzuni, Barlia Syamsuddin, Nurul Hidayah Tonggiroh, Mursalim Trisno, Assyifa Azzahra Dwi Ulul F., Raisa Melina Anik Wibawa, I Gede Laksana Widayani Wahyuningtyas Windawati, Atif Yaslinda Yaunin Yose Ramda Ilhamdi yudhono, raden maisa Yulistini, Yulistini Yunis, Aldi Zarista, Hasbi Azhari Zelly Dia Rofinda