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Market Reaction to the January 2026 Trading Halt: Evidence from IDX30 Stocks Natigor NS, Dayan Hakim; Herlina, Listri
Studi Akuntansi, Keuangan, dan Manajemen Vol 5 No 4 (2026): April
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/sakman.v5i4.6431

Abstract

Purpose: This study aims to examine the market reaction to the trading halt that occurred on January 29, 2026, on the Indonesia Stock Exchange (IDX), focusing particularly on stocks included in the IDX30 index. Market reactions are analyzed using abnormal returns and trading volume activity. Method: An event study methodology is employed with an eleven-trading-day event window (T?5 to T+5) and a 14-day estimation period, consistent with the standard short-window event study practice in emerging markets, using all 30 IDX30 constituent stocks. Results: Significant abnormal returns were observed only at T?5 (p < 0.05), suggesting partial market anticipation prior to the trading halt. No other days in the event window exhibited significantly abnormal returns, and trading volume activity was insignificant throughout. No statistically significant differences were found between the pre- and post-event periods for either measure. Conclusions: Market response appeared to precede the trading halt rather than follow it, while the halt itself produced no significant change in abnormal returns or trading volume among the IDX30 stocks. Limitations: The findings are based on a single trading halt event and one index, which may limit generalizability across broader market conditions or different halt types. Contributions: This study provides early evidence of the role of trading halt mechanisms in an emerging market context, offering preliminary insights for investors, regulators, and researchers.
Technology Readiness Index in The Application of Blockchain Technology In Indonesian Carbon Exchange Dayan Hakim Natigor Sipahutar; Yoyo Sudaryo; Taufik Walhidayat; Gary Cokins
Jurnal Manajemen Industri dan Logistik Vol. 8 No. 2 (2024): 8 original research articles were authored/co-authored by 29 authors from 1 cou
Publisher : Politeknik APP Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30988/jmil.v8i2.1443

Abstract

The integration of Information and Communication Technology (ICT) with Blockchain technology has indeed brought about significant changes across various aspects of digital economic activities. This study provides a perspective on the influence of blockchain use on the performance of Indonesian Carbon Exchange players. The results of data analysis show that the variables Optimism (p-value 0.001<0.05) and Innovation (p-value 0.000<0.05) in the adoption of blockchain technology have a significant positive influence on the performance of Indonesian Carbon Exchange players. The results of testing the Insecurity variable on social media adoption showed significant negative results with a p-value of 0.002 (<0.05). And the results of testing the Discomfort variable with the adoption of blockchain technology have no influence on the performance of Indonesian Carbon Exchange players with a p-value of 0.074 (>0.05).