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All Journal Jurnal Ilmiah Edunomika (JIE)
Winda Aisyah Widjaja
Program Studi Magister Manajemen, Fakultas Ekonomi dan Bisnis, Universitas Pembangunan Nasional “Veteran” Jawa Timur
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education

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ANALISIS PERBEDAAN ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY SEBELUM DAN SESUDAH PERISTIWA MERGER BANK SYARIAH INDONESIA Winda Aisyah Widjaja; Dhani Ichsanuddin Nur
JURNAL ILMIAH EDUNOMIKA Vol 7, No 2 (2023): EDUNOMIKA
Publisher : ITB AAS Indonesia Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jie.v7i2.10023

Abstract

This study aims to investigate whether there are differences in abnormal returns and Trading Volume Activity before and after the merger event of Bank Syariah Indonesia. It describes a market reaction due to the announcement of a merger which can be perceived as the changes in share prices and trading volume activity. The method of his study was a quantitative approach based on the problem characteristics by applying an event study for the status of research subjects concerning a specific or typical phase. In particular, the population were PT Bank Mandiri Syariah, PT Bank Negara Indonesia Syariah, and PT Bank Rakyat Indonesia Syariah, which merged to become Bank Syariah Indonesia. Therefore, the analysis technique used the Paired Sample T-Test and Shapiro-Wilk test for 31 days before the event (15 days before, one day after the event date, and 15 days after). As a result, this study showed no differences in Abnormal Returns before and after Islamic banking merged to become Bank Syariah Indonesia. Its stock market has not interpreted mergers as actions with new information that affects the company's value. With the research results on trading volume activity, there was also no difference before and after the merger of Bank Syariah Indonesia
Co-Authors Dhani Ichsanuddin Nur