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Egita Nur Fadila
Fakultas Ekonomi dan Bisnis Universitas Telkom

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Konfrontasi Rusia-Ukraina: Bagaimana Pengaruhnya Pada Reaksi Pasar dan Kinerja Saham Sub Sektor Mining? Mohammad Fauzan Alghifari; Apriwandi Apriwandi; Egita Nur Fadila
E-Jurnal Akuntansi Vol 34 No 11 (2024)
Publisher : Accounting Department, Economic and Business Faculty of Universitas Udayana in collaboration with the Association of Accounting Department of Indonesia, Bali Region

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/EJA.2024.v34.i11.p08

Abstract

This research aims to empirically demonstrate the divergence of capital market responses measured by abnormal returns, trading volume, volatility of security returns, and stock performance measured by returns in the mining subsector listed on the IDX due to the Russia-Ukraine war. This research is vital because geopolitical conflicts such as the Russia-Ukraine War affect financial markets, especially commodity-dependent sectors, thus providing insights for investors and policymakers in the face of uncertainty. Using an event study method for 10 days pre-and post-war, this research used 29 companies with paired sample t-tests in the hypothesis testing. This study is the first to combine the four variables AR, TVA, SRV, and R to analyze the impact of the Russia-Ukraine conflict, thus becoming a novelty in this research. This study revealed a significant change in TVA. At the same time, no considerable divergence was found in AR, SRV, and R in mining subsector companies listed on the IDX, both before and after the Russia-Ukraine war.