The Reaction of Capital Markets on the 2024 Presidential Election (An Event Study of Companies in the Infrastructure Sector and Building Construction Sub-Sector Listed on the Indonesia Stock Exchange)

Prasintahayu, Elysa
Indrawati, Nur Khusniyah

Jurnal Management Risiko dan Keuangan
Vol. 4 No. 1 (2025)

The objective of this research is to identify the reaction of capital markets on the 2024 presidential election event in the context of companies in the infrastructure sector and building construction sub-sector listed on the Indonesia Stock Exchange. Using purposive sampling technique, 17 companies listed on the Indonesia Stock Exchange and in the green zone according to Refinitiv were selected as the sample. The data was harvested from documentations, and the incorporated variables are abnormal return and trading volume activity. This study finds that there is no significant difference in the average abnormal stock return before and after the 2024 Indonesian presidential election and that (2) there is a significant difference in the average trading volume activity of shares before and after the 2024 Indonesian presidential election.