CAPITAL MARKET REACTION TO PRABOWO-GIBRAN’S VICTORY IN THE 2024 PRESIDENTIAL ELECTION IN INDONESIA : TESTING ON INFOBANK15
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Keywords:
Event Study, Presidential Election, Returns, Stock Price, Trading Volume Activity
Abstract
This research aims to analyze the capital market reaction to the event study of Prabowo-Gibran's victory in the Indonesian Presidential Election by comparing the variables of stock price, stock return and Infobank15 stock trading volume activity in the research period 20 days before and 20 days after the announcement on March 20 2024. Including quantitative research because the data taken is secondary data sourced from idx.co.id where the population which is also a sample is 15 leading banks with good performance according to the Indonesian Stock Exchange. The research results reveal that there is no difference in the average stock price, average stock return and average TVA before and after the announcement of Prabowo-Gibran's victory.
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References
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Maulana, F., Kosim, A. M., & Devi, A. (2021). Analisis Pengaruh Tingkat Harga Saham, Return Saham, dan Volume Perdagangan Saham terhadap Stock Split ISSI Periode 2015– 2020. El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam, 2(3), 245–256. doi: 10.47467/elmal.v2i3.628
Okpiani, W. A., & Khoriawati, N. (2022). Estimasi Perbedaan Harga Saham dan Volume Perdagangan Saham Sektor Perbankan Syariah Di Indonesia Studi Peristiwa: KTT G20 Di Bali Tahun 2022. MALIA (TERAKREDITASI), 14(1), 106–126. doi: 10.35891/ml.v14i1.3778
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Pratiwi, I. G. A. M. A. M. A., Dwipradnyana, I. M. M., & Diatmika, I. G. N. D. (2021). ANALISIS PERBANDINGAN RETURN SAHAM DAN VOLUME PERDAGANGAN SAHAM SEBELUM DAN SETELAH MERGER (Studi Kasus pada PT. Bank Syariah Indonesia Tbk.). Majalah Ilmiah Universitas Tabanan, 18(1), 108–113. Retrieved from https://ejournal.universitastabanan.ac.id/index.php/majalah-ilmiah-untab/article/view/117
Sutapa, I. K. R. S., Sumiari, K. N., & Putri, W. T. I. (2022). Analysis of Share Trading Volume and Abnormal Stock Returns Before and After the Implementation of OJK Regulation Number 17/POJK.03/2021. Repositori Politeknik Negeri Bali. Retrieved from https://repository.pnb.ac.id
Wicaksono, C. A., & Adyaksana, R. I. (2021). ANALISIS REAKSI INVESTOR SEBAGAI DAMPAK COVID-19 PADA SEKTOR PERBANKAN DI INDONESIA. JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi), 6(2), 129–138. doi: 10.34204/jiafe.v6i2.2227
Yusmaniarti, Y., Sepika, S., Ranidiah, F., Astuti, B., & Khair, U. (2022). Perbandingan Harga Saham dan Volume Transaksi Saham Sebelum dan Sesudah Pengumuman Nasional Kasus Covid-19 (Studi Kasus pada Perusahaan Sub Sektor Perkebunan di Bursa Efek Indonesia). EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi Dan Bisnis, 10(1), 357–372. doi: 10.37676/ekombis.v10i1.1533
Aulia, N., & Jaya, T. J. (2022). Analysis Of Differences In Returns Of Sharia Stocks Before And After The Announcement Of The Covid-19 Pandemic In Indonesia. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 7(4). doi: 10.30651/jms.v7i4.13336
Bouzzine, Y. D., & Lueg, R. (2020). The contagion effect of environmental violations: The case of Dieselgate in Germany. Business Strategy and the Environment, 29(8), 3187–3202. doi: 10.1002/bse.2566
Carlini, F., Cucinelli, D., Previtali, D., & Soana, M. G. (2020). Don’t talk too bad! Stock market reactions to bank corporate governance news. Journal of Banking & Finance, 121, 105962. doi: 10.1016/j.jbankfin.2020.105962
Dwianto, N. A., & Yulita, I. K. (2019). REAKSI PASAR MODAL INDONESIA TERHADAP PELUNCURAN RUDAL KOREA UTARA. EXERO : Journal of Research in Business and Economics, 2(1), 22–40. doi: 10.24071/exero.v2i1.2059
Erawati, F. N., Angarani, D., & Hasan, K. (2022). Analisis harga saham, return saham dan likuiditas saham sebelum dan sesudah akuisisi pada PT. Semen Indonesia. Proceeding of National Conference on Accounting & Finance, 356–361. Retrieved from https://journal.uii.ac.id/NCAF/article/view/22308
Gita, R. L., Chumaidiyah, E., & Zulbetti, R. (2022). The Comparison of Stock Price Before and After Pandemic to Identify The Health of Sector Company. International Journal of Innovation in Enterprise System, 6(02), 132–142. doi: 10.25124/ijies.v6i02.185
Hantoro, J. (2024, March 21). KPU Tetapkan Kemenangan Prabowo-Gibran di Pilpres 2024, Politikus Senior PDIP Dorong Pengguliran Hak Angket. Retrieved April 9, 2024, from Tempo website: https://nasional.tempo.co/read/1847944/kpu-tetapkan-kemenangan-prabowo-gibran-di-pilpres-2024-politikus-senior-pdip-dorong-pengguliran-hak-angket
Hidayat, R. (2018). ANALISIS PERBEDAAN ABNORMAL RETURN SEBELUM DAN SESUDAH PERISTIWA POLITIK PADA SAHAM PERUSAHAAN LQ-45 DI BEI | Hidayat | Jurnal Ilmu Manajemen. Retrieved February 28, 2024, from https://jurnal.um-palembang.ac.id/ilmu_manajemen/article/view/1569
Indrianti, R., Suyanto, S., & Rahayu, S. R. (2020). Reaksi Pasar Modal Terhadap Kemenangan Ir. H. Joko Widodo pada Pemilihan Presiden di Indonesia Tahun 2019. Jurnal Akuntansi AKTIVA, 1(2), 229–244. doi: 10.24127/akuntansi.v1i2.554
Jogiyanto. (2017). Teori Portofolio dan Analisis Investasi (10th ed.). Yogyakarta: BPFE.
Khairunnisa, R. (2022). Perbandingan Return dan Trading Volume Activity pada masa Sebelum dan Selama Pandemi Covid-19 pada Emiten Syariah Sektor Healthcare di Bursa Efek Indonesia. AT-TAWASSUTH: Jurnal Ekonomi Islam, 7(2), 224–234. doi: 10.30829/ajei.v7i2.11981
Mardiyaningsih, E., & Andhitiyara, R. (2020). Analisis Perbandingan Sebelum Dan Sesudah Stock Split dengan Tingkat Likuiditas Saham, Harga Saham, dan Return Saham pada Indeks Saham Kompas 100 Tahun 2014 – 2018. JISAMAR (Journal of Information System, Applied, Management, Accounting and Research), 4(1), 1–13. Retrieved from https://journal.stmikjayakarta.ac.id/index.php/jisamar/article/view/166
Maulana, F., Kosim, A. M., & Devi, A. (2021). Analisis Pengaruh Tingkat Harga Saham, Return Saham, dan Volume Perdagangan Saham terhadap Stock Split ISSI Periode 2015– 2020. El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam, 2(3), 245–256. doi: 10.47467/elmal.v2i3.628
Okpiani, W. A., & Khoriawati, N. (2022). Estimasi Perbedaan Harga Saham dan Volume Perdagangan Saham Sektor Perbankan Syariah Di Indonesia Studi Peristiwa: KTT G20 Di Bali Tahun 2022. MALIA (TERAKREDITASI), 14(1), 106–126. doi: 10.35891/ml.v14i1.3778
Olivia, X., & Maulana, A. H. (2024, March 27). Massa Demo di Patung Kuda, Tuntut Prabowo-Gibran Didiskualifikasi. Retrieved April 9, 2024, from KOMPAS.com website: https://megapolitan.kompas.com/read/2024/03/27/11223021/massa-demo-di-patung-kuda-tuntut-prabowo-gibran-didiskualifikasi
Pratiwi, I. G. A. M. A. M. A., Dwipradnyana, I. M. M., & Diatmika, I. G. N. D. (2021). ANALISIS PERBANDINGAN RETURN SAHAM DAN VOLUME PERDAGANGAN SAHAM SEBELUM DAN SETELAH MERGER (Studi Kasus pada PT. Bank Syariah Indonesia Tbk.). Majalah Ilmiah Universitas Tabanan, 18(1), 108–113. Retrieved from https://ejournal.universitastabanan.ac.id/index.php/majalah-ilmiah-untab/article/view/117
Sutapa, I. K. R. S., Sumiari, K. N., & Putri, W. T. I. (2022). Analysis of Share Trading Volume and Abnormal Stock Returns Before and After the Implementation of OJK Regulation Number 17/POJK.03/2021. Repositori Politeknik Negeri Bali. Retrieved from https://repository.pnb.ac.id
Wicaksono, C. A., & Adyaksana, R. I. (2021). ANALISIS REAKSI INVESTOR SEBAGAI DAMPAK COVID-19 PADA SEKTOR PERBANKAN DI INDONESIA. JIAFE (Jurnal Ilmiah Akuntansi Fakultas Ekonomi), 6(2), 129–138. doi: 10.34204/jiafe.v6i2.2227
Yusmaniarti, Y., Sepika, S., Ranidiah, F., Astuti, B., & Khair, U. (2022). Perbandingan Harga Saham dan Volume Transaksi Saham Sebelum dan Sesudah Pengumuman Nasional Kasus Covid-19 (Studi Kasus pada Perusahaan Sub Sektor Perkebunan di Bursa Efek Indonesia). EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi Dan Bisnis, 10(1), 357–372. doi: 10.37676/ekombis.v10i1.1533
Published
2024-06-29
How to Cite
Fitriyani, Y. (2024). CAPITAL MARKET REACTION TO PRABOWO-GIBRAN’S VICTORY IN THE 2024 PRESIDENTIAL ELECTION IN INDONESIA : TESTING ON INFOBANK15. Ekonomi Dan Bisnis: Berkala Publikasi Gagasan Konseptual, Hasil Penelitian, Kajian, Dan Terapan Teori, 28(1), 34-42. https://doi.org/10.24123/jeb.v28i1.6482
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Articles
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