Indonesian Capital Market Investor Response Toward The Simultaneous Regional Elections In 2018 ( Study On Lq45 Stocks February Until July 2018 )
Journal Title: IOSR Journal of Economics and Finance (IOSR-JEF) - Year 2018, Vol 9, Issue 5
Abstract
This study aims to find the empirical evidence of the reaction of Indonesian capital market investors toward the simultaneous regional elections in Indonesia 2018. The population in this study is the consistent stocks listed in LQ 45 during this study period. The data used is secondary data in the form of stock price and daily LQ-45 index five days before and after the election. The statistical tests used to test the hypothesis areOne sample t-test and Paired samples t-test. The results of One sample t-test showed that there is a significant negative abnormal return around the date of the election. It means that the investors responded to this simultaneous regional election as bad news. The results of Paired samples t-testshowed that there is no significant positive difference of average abnormal return at the moment of the election and before the election, there is no significant positive difference of average abnormal return at the moment of the election and after the election and also there is no significant positive difference of average abnormal return before and after the election.
Authors and Affiliations
Suroto . , Ch. Asta Nugraha
Keywords
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- EP ID EP414921
- DOI 10.9790/5933-0905020915.
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