Analysis of the Capital Market Reaction to the First Java-Bali Community Activity Restriction Policy Announcement Event (Case Study of Food and Beverage Companies Listed on the Indonesia Stock Exchange)
Journal Title: Journal of Economics, Finance and Management Studies - Year 2023, Vol 6, Issue 01
Abstract
This research is an event study that aims to analyze the reaction of the capital market to the announcement of the Pemberlakuan Pembatasan Kegiatan Masyarakat Jawa-Bali (PPKM Jawa Bali) based on abnormal returns and trading volume activity. The data in this study are secondary data with quantitative data types. The population in this study includes 28 Food and Beverage companies listed on the IDX with the window period taken in the study being 5 days before and after the PPKM Jawa Bali Policy Announcement. In the statistical test analysis, this study used a paired sample t-test difference test because the prerequisites for the different tests, namely the data in the study were normally distributed, were met. The results of the paired sample t-test analysis significantly was not found to be different in Average Abnormal Return (AAR) and Average Trading Volume Activity (ATVA) before and after the PPKM Jawa Bali Policy Announcement event, was not found of differences in the study, which give us a conclusion that the PPKM Jawa-Bali Policy Announcement event did not have a certain information content so that the capital market did not react to the policy.
Authors and Affiliations
Erni Suci Budi Rahayu, Abdul Malik Kumar
Keywords
Related Articles
- EP ID EP726679
- DOI 10.47191/jefms/v6-i1-20
- Views 78
- Downloads 0
Developing Digital Marketing through Instagram Social Media and Promoting QRIS as a Payment Tool for UMKM Dapoermamaminie
Digital marketing is the application of digital technology to connect, interact, and communicate with customers to meet their needs and desires. Not a few business people do digital marketing to introduce their business....
Importance of Economic Corridors as Driver of Regional Integration: South Caucasus and Central Asian Context
Developing and integrating regions is facilitated by economic corridors, which are strategically arranged infrastructure systems that include roads, railroads, ports, and pipelines. The importance of economic corridors i...
Government Fiscal Transfers and the Technical Efficiency of Optimising Sustainable Public Debt in Kenya
Over the past decade, as Kenya has consistently made fiscal transfer from the central government to the counties, the country’s public debt has continuously become less sustainable. This observation contrasts with the po...
Working Capital Management and Performance of Manufacturing and Distributing Firms Listed on Ghana Stock Exchange
This study critically examines the imperative for enhanced working capital management (WCM) among Ghanaian firms, with a particular focus on the performance of manufacturing and distribution companies listed on the Ghana...
The Influence of Motivation, Compensation, and Workplace on Employee Performance at PT. UMC Suzuki Surabaya
Human resources play a crucial role in the success of an organization or firm. This study has the purposes to determine the influence of motivation, compensation, and Workplace on employee performance. The population and...