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All Journal ESENSI: JURNAL BISNIS DAN MANAJEMEN Jurnal Kedokteran Brawijaya Animal Agricultural Journal Journal of Economics, Business, & Accountancy Ventura Briliant: Jurnal Riset dan Konseptual Paediatrica Indonesiana Animal Production : Indonesian Journal of Animal Production Jurnal Riset Akuntansi dan Keuangan Jurnal Organisasi Dan Manajemen JURNAL PengaMAS Maker: Jurnal Manajemen Jurnal Pengembangan Penyuluhan Pertanian International Journal of Economics, Business and Accounting Research (IJEBAR) JESS (Journal of Education on Social Science) Jurnal Pengabdian Masyarakat (ABDIRA) Bulletin of Community Engagement Journal Of Business, Finance, and Economics (JBFE) Indonesian Capital Market Review SWARNA Jurnal Dinamika Akuntansi dan Bisnis (JDAB) Sinergi Akademisi dan Masyarakat IIJSE Jurnal Bilingual Jurnal Bioteknologi & Biosains Indonesia (JBBI) Jurnal Bioteknologi & Biosains Indonesia
Sutaryo Sutaryo
Faculty of Economics and Business, Universitas Sebelas Maret, Surakarta
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Journal : Journal of Economics, Business,

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Is the effect of a political event more pronounced for government controlled firms? Trinugroho, Irwan; Fajrin, Aurio; Sutaryo, Sutaryo
Journal of Economics, Business, and Accountancy Ventura Vol. 19 No. 2 (2016): August - November 2016
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v19i2.629

Abstract

This study investigates market reaction to a political event, which is the presidential election of Republic of Indonesia in 2014 by studying 387 publicly traded firms in the Indonesia Stock Exchange. It employs event study method to measure the information content of this event. By going deeper, this study looked at the effect difference between government controlled firms (partially privatized firms) and private firms. The results show that there was a significant abnormal return around the event date. The negative abnormal return one day before the election date, which was followed by rebounding one day after the event, indicate that investors consider that the election had been done well particularly with respect to the political stability and security. Moreover, this paper reveals that the effect of presidential election is more pronounced for government-controlled firms than private firms. Government controlled firms may be more susceptible to political event.
Co-Authors Abeng, Doni Aboe, Roswita M Adi Wijaya Adji Prasetya, Andika Ag Soemantri Agung Purnomoadi Agustinus Soemantri Alastair James Ward, Alastair James Ali Marasabessy, Iksan Amaruddin, Hamdan Aminuyati Andiani, Tiara Ani Kusbandiyah Ariefianto, Mochammad Doddy Arifin, Taufiq Artiani, Gita Bagawat Sari, Fauziya Baldah, Nasrun Berkah Fajar Tamtomo kiono Cahyoko, Muhammad Fauzan Christian, Yoshia Christian, Yoshia Dewi, Giovani Surya Djokomoeljanto Djokomoeljanto Doddy Setiawan Dwiyantono, Rifky Evi Gantyowati Fajrin, Aurio Ferdyson, Ferdyson Ferryono, Baries Gita Puspa Artiani, Gita Puspa Hasan, Nurprihatina Henrik Bjarne Møller, Henrik Bjarne Herni Justiana Astuti Hidayah, Chusnul Indrarosa, Dwita Indriasari, Indriasari Irwan Trinugroho, Irwan Isna Putri Rahmawati Iswari Setianingsih Jaka Winarna JOKO MARIYONO Khuluk, Nazaruddin Kinanti, Rengganis Ayu Kurniawan, Aisyahqi Ramadhani Putri Lipiyanto, Ony Maricar, Farida Marsetyawan HNES, Marsetyawan Moedrik Tamam Muhtar Muhtar Muhtar Muhtar Muthmainah Muthmainah Nurrahmawati Nurrahmawati, An Pahrul Rodji, Achmad Palupi-Baroto, Retno Payamta, Payamta Prihatnolo Gandhi Amidjaya Rahmawati, Isna Putri Rini Astuti Rita Purwasih Rizki Amalia Rodji, Achmad Pahrul Rumende, Rooije RH Saiful Latif, Saiful Sain, Aji Saleh Siregar, Wildan Saleh Siregar Sihombing, Sahat Sipahutar, Indra Sarjono Siska Amelia Amelia, Siska Amelia Siswanto Imam Santoso Suharyo Hadisaputro Sukadi Sukadi SURYO Budi Santoso Susanto, Setio Taufiq Arifin Umasangadji, Shifa Alviony Wahyu Setiawan Wicaksono, Aditya Kurniawan Winarna, Jaka Y Anni Aryani Y. Anni Aryani Yetty Yetty Yuswanto, Adi Zatmika, Ajat