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All Journal COUNT: Journal of Accounting, Business and Management
Prasetya, Fikri Dwi
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Economics, Econometrics & Finance

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ANALYSIS OF STOCK PRICE EVALUATION IN THE ENERGY SECTOR AND CONSUMER CYCLICAL SECTOR DURING IPO AND AT THE END OF 2024 Prasetya, Fikri Dwi; Sri Suryaningsum
Count : Journal of Accounting, Business and Management Vol. 2 No. 1 (2024): July: COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v2i4.395

Abstract

This study aims to evaluate the performance of energy and consumer cyclical sector stocks on the Indonesia Stock Exchange by comparing the stock price at the end of 2024 to the share price at the time of the Initial Public Offering (IPO) as the basis for an investment strategy in 2025. This study uses a quantitative method with differential test analysis, with data from 21 companies in the energy sector and 49 companies in the consumer cyclical sector that meet the sample criteria. The study results show that in hypothesis 1, there is no significant difference between the share price at the time of the IPO and the end of 2024 in energy sector companies. For hypothesis 2, there is a significant difference between the share price at the time of the IPO and the end of 2024 in companies in the consumer cyclical sector. For hypothesis 3, there is no significant difference in stock prices during IPOs between the energy sector and consumer cyclical, with the average stock price at the time of IPO in the energy sector higher than that of the consumer cyclical sector. For the 4th hypothesis, there is a significant difference in stock prices at the end of 2024 between the energy and consumer cyclical sectors, with the average stock price at the end of 2024 in the energy sector being higher than in the consumer cyclical sector.
EVENT HISTORY ANALYSIS (EHA) METHOD AS EVENT STUDY DEVELOPMENT Sri Suryaningsum; Prasetya, Fikri Dwi
Count : Journal of Accounting, Business and Management Vol. 2 No. 1 (2024): July: COUNT: Journal of Accounting, Business and Management
Publisher : CV. Fahr Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61677/count.v2i4.396

Abstract

This study aims to introduce event history analysis (EHA) as an alternative to event study in accounting, business, and economics research, especially for events that span a long time. Event Studies are generally limited to analysing daily events, whereas many phenomena in this area, such as post-IPO stock price stabilization, require long-term analysis. Event History Analysis, which originated in medicine, has evolved and began to be used in business research in Western countries. However, its use in Indonesia is still limited. Inappropriate use of Event Studies for long-term events may lead to biased research results. The method used in this study is an in-depth comparative literature analysis between Event Study and Event History Analysis. In addition, data testing simulations were carried out using Event History Analysis. The results of this study present a comprehensive comparison table between Event Study and Event History Analysis. Practical guidance on data preparation for COX regression analysis (one of the EHA methods) is also provided. This study also provides examples of research titles relevant to EHA, complete with event identification, independent variables, and expected interpretations. This study contributes to increasing the validity and accuracy of analyses in studies involving a relatively long time span.
Co-Authors SRI SURYANINGSUM