scholarly journals COMPARATIVE ANALYSIS OF INDONESIA CAPITAL MARKET REACTION BEFORE AND AFTER ANNOUNCEMENT OF PRESIDENTIAL ELECTIONS UNITED STATES 2016 DONALD TRUMP (Event Studies On Shares Member Index LQ-45)

ACCRUALS ◽  
2018 ◽  
Vol 2 (1) ◽  
pp. 1-27
Author(s):  
Gunawan Jamaludin ◽  
Sri Mulyati ◽  
Trisandi Eka Putri
Keyword(s):  
United States ◽  
Capital Market ◽  
Abnormal Return ◽  
Trading Volume ◽  
The United States ◽  
Market Model ◽  
Average Difference ◽  
Donald Trump ◽  
Before And After ◽  
Trading Activities

This study aims to determine the empirical evidence of differences before and after the announcement of the results of the election of President of the United States 2016 Donald Trump against the average abnormal return, trading volume trading activities, and frequency trading activities of shares in the capital market in Indonesia. This study is an event study with a 15-day window event that begins on October 31 2016 (t-7) to November 18, 2016 (t+7) and the date of the announcement of the 2016 Presidential Election of the United States of America which falls on November 9, 2016 as (t0). The sample used in this research is 24 stock members of LQ-45 index chosen by purposive sampling method. The data used in this study is secondary data sourced from the website of Indonesia Stock Exchange (http://www.idx.co.id/). Expected return in this study using market model. Then the data is analyzed using Microsoft Excel 2010 and SPSS 22 applications. The result of the research shows that based on the result of paired-samples t-test it can be concluded that statistically the average difference of abnormal return variable before and after announcement of election result of President of United States 2016 Donald Trump, then based on result of wilcoxon signed rank test can be concluded that statistically the average difference of trading volume activity volume variables, and the frequency of trading activity of stock before and after the announcement of the result of the election of President of the United States 2016 Donald Trump.

scholarly journals Indonesian Capital Market Reaction To The Announcement Of A Recession Due To The Pandemic Covid-19

Academia Open ◽  
2021 ◽  
Vol 5 ◽  
Author(s):  
Vani Aryani ◽  
Nurasik
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Trading Volume ◽  
Rank Test ◽  
Volume Activity ◽  
The Third ◽  
Security Return ◽  
Average Abnormal Return ◽  
Significant Difference ◽  
Before And After

On November 5, 2020, Indonesia was declared a recession after the Central Statistics Agency announced that the Indonesian economy experienced a decline in the third quarter of 2020. The Indonesian economy experienced a decline in the third quarter of 2020, which was minus 3.49 percent. In the second quarter of 2020, the Indonesian economy was already minus 5.32 percent. The announcement of the recession event gave rise to various perceptions for capital market participants. So the purpose of this study is to find out and compare the differences in the average Abnormal Return, Trading Volume Activity, and Security Return Variability of IDX 30 issuers before and after the announcement of the recession due to the COVID-19 pandemic. The research method used is quantitative research with an event study approach. The type of data in this study is secondary data with data collection techniques using the documentation method. The sample used is IDX30 stock issuers on the Indonesia Stock Exchange for the period August 2020 - January 2021. The data analysis technique in this study is descriptive statistical analysis, paired t-test and Wilcoxon signed rank test. The results of this study indicate that: (1) there is a significant difference in the average abnormal return of IDX 30 issuers before and after the announcement of the recession due to the covid-19 pandemic. (2) there is a significant difference in the average Trading Volume Activity of IDX 30 issuers before and after the announcement of the recession due to the covid-19 pandemic. (3) there is no significant difference in the average Security Return Variability of IDX 30 issuers before and after the announcement of the recession due to the covid-19 pandemic.

scholarly journals PEMILU SERENTAK DALAM KAITANNYA TERHADAP REAKSI PASAR MODAL DI INDONESIA

2020 ◽  
Vol 25 (1) ◽  
pp. 54-64
Author(s):  
Niken Kusumawardani
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Trading Volume ◽  
Stock Exchange ◽  
Volume Activity ◽  
Political Event ◽  
The Public ◽  
Significant Difference ◽  
Before And After ◽  
Index Stock

This study aims to determine the effect of simultaneous elections in Indonesia, namely legislative and executive elections that occur simultaneously together with the reaction in the capital market. Market reaction is measured using trading volume activity and returns stock that occur within the timeframe before and after the holding of simultaneous elections, namely on the date before and after April 17, 2019. The population in this study is the issuer that actively trades its shares on the Indonesia Stock Exchange (IDX) in Compass100 Index stock category. The research hypothesis was tested with an independent sample t-test using software SPPS26. Hypothesis testing results indicate a significant difference in trading volume activity that occurs before and after simultaneous elections. While the variable abnormal return there is no significant difference before and after the election simultaneously. This research is expected to be a reference for all parties concerned including the public towards a political event that occurs in this case specifically the simultaneous elections for decision making related to investment activities in stock instruments

Experiencing vicarious rejection in the wake of the 2016 presidential election

2018 ◽  
Vol 23 (2) ◽  
pp. 179-194
Author(s):  
Heather M. Claypool ◽  
Alejandro Trujillo ◽  
Michael J. Bernstein ◽  
Steven Young
Keyword(s):  
United States ◽  
Presidential Election ◽  
Presidential Elections ◽  
The United States ◽  
Political Orientation ◽  
Presidential Candidate ◽  
Hillary Clinton ◽  
Social Pain ◽  
Donald Trump ◽  
Before And After

Presidential elections in the United States pit two (or more) candidates against each other. Voters elect one and reject the others. This work tested the hypothesis that supporters of a losing presidential candidate may experience that defeat as a personal rejection. Before and after the 2016 U.S. presidential election between Donald Trump and Hillary Clinton, voters reported their current feelings of rejection and social pain, along with potential predictors of these feelings. Relative to Trump supporters, Clinton (losing candidate) supporters reported greater feelings of rejection, lower mood, and reduced fundamental needs post-election, while controlling for pre-election levels of these variables. Moreover, as self–candidate closeness and liberal political orientation increased, so too did feelings of rejection and social pain among Clinton supporters. We discuss the implications of these results for understanding human sensitivity to belonging threats and for the vicarious rejection literature.

scholarly journals REAKSI PASAR MODAL INDONESIA TERHADAP PERISTIWA BENCANA ALAM TSUNAMI DI ACEH TANGGAL 26 DESEMBER 2004

2018 ◽  
Vol 13 (2) ◽  
Author(s):  
Nungky Viana Feranita
Keyword(s):  
Natural Disaster ◽  
Capital Market ◽  
Stock Prices ◽  
Abnormal Return ◽  
Trading Volume ◽  
Economic Environment ◽  
Volume Activity ◽  
Average Abnormal Return ◽  
Before And After ◽  
Disaster Event

As one of an instrument of economy, capital market can not be separated from influence that amend in its environment, either occur in macro economic, micro economic or non-economic environment. This research is one of the event study which examined in how the reaction of Indonesian capital market toward event that occur in an non-economic environment which is tsunami natural disaster in Aceh, December 26th, 2004.The purpose of this research is to examine stock prices reaction and trading volume activities in Jakarta Stock Exchange (JSX) toward tsunami natural disaster event in Aceh, also to examine whether there are any differences in average abnormal return and average trading volume activity before and after tsunami natural disaster event in Aceh. The samples are generated from stocks that have the biggest market capitalization in JSX which are often listed in LQ45 in period August, 2003 until January, 2008.The result of test using SPSS with 95% confidence level shows that JSX was not responded toward tsunami natural disaster event in Aceh. This is shown by no abnormal return during event period, no difference of average abnormal return before and after event, and no difference of average trading volume activity before and after tsunami natural disaster event in Aceh.

scholarly journals INDONESIAN CAPITAL MARKET REACTION TO COVID-19 AS A GLOBAL PANDEMIC

2020 ◽  
Vol 5 (2) ◽  
pp. 120
Author(s):  
Novi Syaifatun Kamala ◽  
Muhammad Andryzal Fajar
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Trading Volume ◽  
World Health ◽  
Rank Test ◽  
Bid Ask Spread ◽  
Global Pandemic ◽  
Average Abnormal Return ◽  
Significant Difference ◽  
Before And After

This study aims to obtain empirical evidence of the absence of an average abnormal return, average volume trading activity, and bid-ask spread of stocks in the period around the event of the COVID-19 announcement as a global pandemic. The statement of the COVID-19 as the global pandemic of the World Health Organization (WHO) made the Indonesian capital market touch the lowest point at the level of 4,929.56. This study used the event study with the windows period for 11 days, which was five days before the announcement, the day of the announcement, and five days after the announcement. This type of research was a quantitative research using secondary data of the stock daily data obtained from the official website of the Indonesia Stock Exchange at www.idx.co.id and also some other sites that support such as Yahoo Finance. Sampling techniques used were purposive sampling and as many as 44 companies that meet data completeness criteria. The data analysis technique used was a non-parametric t-test using the Wilcoxon Signed-Rank test. The results of this study show that there is a difference in Average Abnormal Return in the period t-5 & t+5, t-4 & t+4, t-2 & t+2, and t-1 & t+1. The Average Trading Volume Activity indicates there is no significant difference in all periods of observation between before and after the announcement. Meanwhile, the Bid-Ask Spread shows a significant difference before and after the announcement in all periods for 11 days of observation.

scholarly journals Abnormal Return and Trading Volume Activity Before and After Presidential Election 2019 ( Study on LQ-45 stock on February-July 2019)

2019 ◽  
Vol 34 (2) ◽  
Author(s):  
C H Asta Nugraha ◽  
Suroto Suroto
Keyword(s):  
Capital Market ◽  
Presidential Election ◽  
Abnormal Return ◽  
Trading Volume ◽  
Composite Index ◽  
T Test ◽  
Volume Activity ◽  
Paired Samples ◽  
Significant Difference ◽  
Before And After

<p>This study aims to find out the empirical evidence of Indonesia capital market investors’ reaction toward presidential election 2019. The population in this study is the companies’ stocks which are included in the LQ-45 index during this study. The data used is secondary data in the form of LQ-45 stocks and daily Composite index three days before and three days after the event. By implementing the one sample t-test and paired samples t-test, the result shows that there is a positive and significant abnormal return around the event especially on the third day (t+3) after the event.  Moreover, there is an insignificant difference in the average of negative abnormal return and significant difference on the average of negative trading volume activity, before and after the presidential election 2019.</p><p><strong>Keywords:</strong> Capital Market, Event Study, Abnormal Return, Trading Volume Activity, Investors’ Reactions</p><p class="Default"><em>Penelitian ini bertujuan untuk menemukan bukti empiris reaksi investor pasar modal Indonesia terhadap peristiwa pemilihan presiden 2019. Populasi penelitian ini adalah saham-saham perusahaan yang konsisten tergabung dalam indeks LQ-45 selama periode penelitian. Data yang digunakan adalah data sekunder berupa harga saham LQ-45 dan IHSG harian tiga hari sebelum dan tiga hari setelah peristiwa. Uji statistik yang digunakan untuk menguji hipotesis adalah one sample t-test dan  paired samples t-test. Hasil yang diperoleh menunjukkan terdapat abnormal return positif dan signifikan di sekitar  peristiwa terutama pada hari ke-3 (t+3) setelah peristiwa. Selain itu, terdapat perbedaan rata-rata abnormal retrun negatif tidak signifikan dan terdapat perbedaan rata-rata trading volume activity negatif yang signifikan antara sebelum dan setelah peristiwa pemilihan presiden 2019. </em></p><p><strong><em>Kata Kunci</em></strong><em>: Pasar Modal, Studi Peristiwa, </em>Abnormal Return, Trading Volume Activity, <em>Reaksi Investor</em></p>

The Reaction Of The Indonesian Capital Market When Indonesia Experiences Recession In 2020 

Academia Open ◽  
2021 ◽  
Vol 5 ◽  
Author(s):  
Rony Yulian Putra Santoso ◽  
Heri Widodo
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Trading Volume ◽  
Quantitative Research ◽  
Sampling Technique ◽  
Rank Test ◽  
Research Approach ◽  
Volume Activity ◽  
Security Return ◽  
Before And After

This study aims to explain whether or not there is evidence of differences in abnormal return, trading volume activity, and security return variability of companies listed in the LQ45 index on the IDX before and after the November 2020 recession announcement. This study uses quantitative research approach. The LQ45 index is the research population used in this study. Meanwhile, to determine the research sample in this study using purposive sampling technique. The Wilcoxon Signed Rank Test is a data analysis technique used. Based on the results of the research, the abnormal return indicator gives a change with sig. 0.012. Trading volume activity changes with sig. 0.000. Security return variability provides changes with the value of sig. 0.026. So it can be concluded that in the event of an announcement of a recession there is a capital market reaction to companies listed in the LQ45 index.

scholarly journals Capital Market Reaction Against Political Events (Event Study of Demonstration 212 Peaceful Action )

2018 ◽  
Author(s):  
Sri Utami Ady
Keyword(s):  
Stock Returns ◽  
Event Study ◽  
Capital Market ◽  
Stock Price ◽  
Abnormal Return ◽  
Trading Volume ◽  
Share Price ◽  
Stock Trading ◽  
Significant Difference ◽  
Before And After

This study aimed to explain the reaction of the capital market (Event study) 212 demonstrations peaceful protest events against the share price of PT Nippon Indosari Corpindo Tbk on December 2016. The study was conducted at PT Nippon Indosari Corpindo Tbk. As one of the companies affected directly the event. The data used the daily closing stock price data, daily stock trading volume, and the number of outstanding shares obtained from the Indonesia Stock Exchange. By using a t test analysis, there were three hypotheses in this study, namely whether the investor obtain abnormal return to their events (H1), whether there was a difference of abnormal return before and after the event (H2), whether there were differences in the volume of stock trading before and after the event (H3). Results of tests made clear that investors did not earn abnormal return to their peaceful protest demonstration event 212, the results of tests performed also explained that there was no significant difference in abnormal stock returns and trading volume before and after the event. This was because the Indonesian people already familiar with the demonstrations that occurred in the country, so that market participants were more calm in dealing with the situation. The reaction of investors to the event in the Indonesian capital market was quite low indicates the level of efficiency of the Indonesian capital market was still weak

scholarly journals REAKSI PASAR MODAL INDONESIA TERHADAP PERISTIWA PENGUMUMAN HASIL PENGHITUNGAN SUARA PEMILIHAN UMUM DAN PELANTIKAN PRESIDEN AMERIKA SERIKAT

2018 ◽  
Vol 7 (6) ◽  
pp. 2971
Author(s):  
Ni Made Ayu Windika Saraswati ◽  
I Ketut Mustanda
Keyword(s):  
United States ◽  
Abnormal Return ◽  
Market Reaction ◽  
Stock Exchange ◽  
Participant Observation ◽  
Total Sample ◽  
The United States ◽  
Test Analysis ◽  
Significance Level ◽  
Before And After

This study aims to explain the Indonesian capital market reaction to the announcement of the election vote results and the inauguration of the United States President. The population in this study are companies listed in the index LQ45 Indonesia Stock Exchange period August 2016. Sampling method in this study is nonprobability sampling and total sample are 45 companies. This study uses non-participant observation technique to collect data and event study method with paired t-test analysis techniques to test the significance level of abnormal return. This study finds that (1) there is difference in abnormal return before and after the announcement of the election vote results and (2) there is difference in abnormal return before and after the inauguration of the United States President. The findings indicate that there is market reaction around the announcement of the election vote results and the inauguration of the United States President.

scholarly journals ANALISIS REAKSI PASAR SEBELUM DAN SESUDAH PELANTIKAN KABINET INDONESIA MAJU PADA PERUSAHAAN BUMN DI BURSA EFEK INDONESIA

2020 ◽  
Vol 7 (2) ◽  
Author(s):  
Abdullah Kango ◽  
Ivonne S. Saerang ◽  
Maryan Mangantar
Keyword(s):  
Capital Market ◽  
Abnormal Return ◽  
Trading Volume ◽  
Hypothesis Test ◽  
Volume Activity ◽  
Test Analysis ◽  
Trading Frequency ◽  
Activity Frequency ◽  
Before And After ◽  
Observation Period

President Joko Widodo had been inaugurated ministers in the Advanced Indonesia Cabinet that will help him to undergo the wheels of government in the 2019-2024 period on October 23, 2019. The inauguration is one of the important event in the capital market shows that there are some reactions of the event. The aims of this study to see how the reaction of capital market by looking at the differences of the variabels abnormal return, trading volume activity and trading frequency of stock before and after the event. The research object is 20 companies of state-owned corporation on period during September–November 2019. The analytical method used to test is compares two means from each variables. The observation period is 14 days which is 7 days before and 7 days after event. This hypothesis test used paired sample t-test analysis. The result of this research shows that there is significant differences between abnormal return before and after of event, there is no significant differences between trading volume activity before and after of event, and there is a significant differences between trading frequency before and after event. Keywords: Event Study, Abnormal Return, Trading Volume Activity, Frequency of Stock Trading

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