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All Journal Proceeding National Conference Business, Management, and Accounting (NCBMA) Rashid
Okta Eka Putra
Universitas Informatika dan Bisnis Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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Sentimen Politik dan Volatilitas Pasar: Reaksi Indeks Pefindo 25 terhadap Pemilu Presiden 2024 Hendi Wijaya; Tarisa Nur Asyifa; Kania Aini Salmabila; Tasya Bella Oktaviani; Dinan Maolana Ibrahim; Okta Eka Putra
Rashid : Journal of Economic Vol. 1 No. 1 (2025): Rashid : Journal of Economic
Publisher : Jaanur Elbarik Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65065/nzqp3063

Abstract

This study aims to determine whether or not there are changes in stock returns and trading volume before and after the election. This study uses a quantitative method with an event study approach to analyze market reactions to the 2024 Presidential Election. The results of the study showed that there was no significant difference in stock returns and trading volume of the Pefindo 25 Index. This finding indicates that investors consider fundamental factors more than short-term political sentiment. This study concludes that the 2024 Presidential Election does not have a significant impact on stock returns and trading volume of the Pefindo 25 Index. Market stability indicates that investors have anticipated this political event in advance. This finding confirms the importance of fundamental factors in investment decision making compared to short-term political sentiment.
MARKET REACTION TO INTEREST RATE CUT ANNOUNCEMENTS: AN EVENT STUDY ON THE INDONESIA STOCK EXCHANGE Meli Yuniar; Shahran Khairana Sofyan; Alex Pintu Batu; Okta Eka Putra
Proceeding National Conference Business, Management, and Accounting (NCBMA) 9th National Conference Business, Management, and Accounting
Publisher : Faculty of Economics and Business Universitas Pelita Harapan

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Abstract

This study aims to analyze the differences in the performance of all stock indices listed on the Indonesia Stock Exchange (IDX) before and after the implementation of a rate cut policy. A rate cut is a monetary policy instrument used to stimulate economic growth by increasing liquidity, lowering borrowing costs, and encouraging consumption and investment. Such policy changes may affect capital market movements; however, each stock index may respond differently depending on its characteristics and sectoral composition. This research employs a quantitative approach with a paired-sample comparative design. The population consists of all IDX stock indices, including IHSG, FTSE Indonesia, LQ45, Kompas 100, Bisnis-27, IDX30, IDX Islamic, IDX Main Board, IDX Syariah, IDX Sri-Kehati, IDX Banking, SMinfra18, MNC36, Investor33, Jakarta Islamic 70 (JII70), and IDX80. A saturated sampling technique was applied, with observation periods of 15 trading days before and 15 trading days after the rate cut announcement. Data were analyzed using normality tests (Shapiro–Wilk), followed by either the Paired Sample T-Test or the Wilcoxon Signed Rank Test depending on data distribution. The findings indicate that statistically there are no significant differences in the performance of most stock indices before and after the rate cut policy (p-value > 0.05). This suggests that the Indonesian capital market responds efficiently to monetary policy changes, and that the rate cut information may have been anticipated by investors. The results provide implications for investors, regulators, and policymakers in understanding market dynamics following monetary policy adjustments and serve as empirical evidence for investment decision-making and economic policy evaluation.
Co-Authors Alex Pintu Batu Dinan Maolana Ibrahim Hendi Wijaya Kania Aini Salmabila Meli Yuniar Shahran Khairana Sofyan Tarisa Nur Asyifa Tasya Bella Oktaviani