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All Journal Lead Journal of Economy and Administration Riset Akuntansi dan Keuangan Indonesia
Leonny Noviyana Sakti Pamungkas
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Journal : Riset Akuntansi dan Keuangan Indonesia

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Stocks vs Mutual Funds in An Election Year: Which is More Profitable? Leonny Noviyana Sakti Pamungkas; Y Anni Aryani; Doddy Setiawan
Riset Akuntansi dan Keuangan Indonesia Vol. 10 No. 2 (2025): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v10i2.10305

Abstract

This study analyzes the reaction of stock markets and mutual funds to political events using a sample of 15 countries that held elections. In general, we document the returns before and after the elections and use t-test to determine the effect and f-test to measure the volatility of both. The results show that the short-term effect is significant for all mutual funds and only a few stocks are significant. In addition, with the same conditions, it does not necessarily have the same impact on the two instruments.  However, we only found the short-term impact. While the explanation is not too clear, investors may want to observe the economic impact on stocks and mutual funds arising from longer time horizons.
Co-Authors Doddy Setiawan Riedwan Adhie Saputra Setyaningtyas Honggowati Y Anni Aryani