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All Journal Jurnal Akuntansi
Ermina Sari
STIE Al-Madani, Lampung
Economics, Econometrics & Finance

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MARKET REACTION TO THE COVID-19 PANDEMIC (CASE STUDY ON RETAIL COMPANIES LISTED ON THE IDX) Ermina Sari
Jurnal Akuntansi Vol. 12 No. 2 (2022): Accounting Journal
Publisher : UNIB Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33369/j.akuntansi.12.2.43-51

Abstract

One of the sectors affected by the COVID-19 pandemic is the retail sector. The share prices of issuers engaged in the retail sector are mostly traded in the red zone. This study aims to find out how the Indonesian market, especially in the retail sector, reacted to the COVID-19 pandemic. Observations were made in a period of 1 month before and 1 month after the event as the event window in this study was determined based on WHO declaration on Corona Virus (COVID-19) as a global pandemic at March 11, 2020. Fifteen samples were obtained in this study using purposive sampling method. The testing was carried out using SPSS paired sample t-test. The results of hypothesis testing in this study indicate that all proposed hypotheses (Ha1, Ha2 and Ha3) are accepted. Thus, the market reacted to the WHO's designation of the corona virus (COVID-19) as a global pandemic with a decrease in cumulative abnormal returns, a decrease in stock prices and an increase in trading volume.
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