<![CDATA[In this study, we use an event study approach to empirically study the market performance and response trends of Indonesian primary consumer goods sector companies to the Covid-19 pandemic. The study aims to examine the impact of four announcements related to Covid-19 social restriction by observing abnormal return and trading volume activity reaction of 74 sample companies in the Indonesia Stock Exchange. By using the event study method, secondary data consist of daily stock prices, daily trading volume, and daily index prices between three days before and three days after the event and analyzed by Paired Sample t-Test and Wilcoxon Signed Rank Test. The result showed the abnormal return on the transition of Large-Scale Social Restriction (PSBB), first Community Activities Restriction Enforcement (PPKM), and emergency period of PPKM are not significant. Significantly abnormal return only showed on the first announcement of PSBB. Trading volume activity before and after the four PSBB and PPKM announcements also are not significant. Dalam penelitian ini digunakan pendekatan event study untuk mempelajari kinerja dan reaksi pasar pada perusahaan-perusahaan sektor barang konsumen primer terhadap pandemi Covid-19. Penelitian ini bertujuan untuk menguji pengaruh keempat pengumuman terkait pembatasan sosial Covid-19 terhadap abnormal return dan trading volume activity pada 74 perusahaan sampel di Bursa Efek Indonesia. Menggunakan metode event study dan data sekunder berupa harga saham harian, jumlah transaksi harian, dan indeks gabungan harian selama tiga hari sebelum dan tiga hari setelah tanggal peristiwa, yang diuji dengan Paired Sample t-Test dan Wilcoxon Signed Rank Test. Hasil penelitian menunjukkan adanya abnormal return secara signifikan pada saat PSBB pertama kali diumumkan. Sedangkan abnormal return saat PSBB transisi, PPKM, dan PPKM darurat tidak signifikan. Perbedaan trading volume activity sebelum dan sesudah keempat pengumuman PSBB dan PPKM juga tidak signifikan.]]>
