Sihombing, Ruth Vrinida
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Analysis Of Stock Prices, Stock Returns, And Stock Trading Volumes of Companies Before and After Merger & Acquisition Announcement Sihombing, Ruth Vrinida; Djazuli, Atim
Jurnal Management Risiko dan Keuangan Vol. 4 No. 1 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Purpose –  This study aims to assess and explain differences in stock prices, stock returns, and stock trading volume of companies listed on the Indonesia Stock Exchange (IDX) in 2022 following mergers and acquisitions.   Design/methodology/approach – This research uses a quantitative approach with a population and sample consisting of companies that conducted mergers or acquisitions in 2022. Data were analyzed using descriptive statistics, normality tests, and difference tests in SPSS. Normally distributed data were tested using the Paired Sample T-Test, while non-normally distributed data were analyzed using the Wilcoxon Signed-Rank Test.   Findings – The results show that there are no significant differences in stock prices, stock returns, and stock trading volume after mergers and acquisitions among listed companies on the IDX in 2022.   Originality/value –  This study provides empirical evidence on the limited short-term market impact of mergers and acquisitions in the Indonesian capital market and contributes to event study literature in emerging markets.