BAGAIMANA SAHAM BUMN BEREAKSI TERHADAP PEMINDAHAN IBUKOTA
The purpose of this study was to determine the market reaction to the announcement of the planned move of the capital to East Kalimantan by President Joko Widodo (16/8) of shares listed in the IDXBUMN20 index by observing differences in average abnormal returns between before and after the D-day (August 16 2019). This research is a quantitative study using secondary data sources taken from the sites www.idx.com, finance.yahoo.com, and www.duniainvest.com. The population in this study are companies that are included in the IDXBUMN20 index in 2019. The data collection technique in this study uses documentation techniques. While the data analysis technique uses the Wilcoxon Signed Rank Test. The results of this study indicate that there was a positive market reaction after President Joko Widodo announced plans to relocate the capital to East Kalimantan during his speech at the Senayan Parliament Complex, Jakarta (16/8). This positive reaction especially affected SOE companies listed in the IDXBUMN20 index.
Keyword: moving capital; market reaction; average abnormal return
Ahmed, W. M. A. (2017). The impact of political regime changes on stock prices: the case of Egypt. International Journal of Emerging Markets (Vol. 12). https://doi.org/10.1108/IJoEM-12-2015-0258
Hartono, J. (2015). Teori Portofolio dan Analisis Investasi edisi kesepuluh. (10, Ed.). Yogyakarta: BPFE Yogyakarta.
Hutasoit, W. L. (2018). Analisa Pemindahan Ibukota Negara. Dedikasi, 19(2), 108–128.
Ita. (2019, April). Dampak ekonomi pemindahan ibu kota Indonesia dari Jakarta. News.Detik.Com. Retrieved from https://news.detik.com/abc-australia/d-4530283/dampak-ekonomi-pemindahan-ibu-kota-indonesia-dari-jakarta
Sajid Nazir, M., Younus, H., Kaleem, A., & Anwar, Z. (2014). Impact of political events on stock market returns: empirical evidence from Pakistan. Journal of Economic and Administrative Sciences, 30(1), 60–78. https://doi.org/10.1108/jeas-03-2013-0011
Sukirno. (2003). Event Study Sebuah Pendekatan dalam Penelitian Akuntansi. No (01) Tahun (XXXI). Jurnal UNY. Retrieved from https://journal.uny.ac.id/index.php/informasi/article/viewFile/7178/6190.
Yadika, B. (2019). Ibu Kota Pindah, Saham BUMN Bakal Moncer. Liputan6.Com, pp. 9–12. Retrieved from https://www.liputan6.com/bisnis/read/4048228/ibu-kota-pindah-saham-bumn-bakal-moncer
Article StatisticAbstract view : 285 times
PDF views : 333 times
The PDF file you selected should load here if your Web browser has a PDF reader plug-in installed (for example, a recent version of Adobe Acrobat Reader).
If you would like more information about how to print, save, and work with PDFs, Highwire Press provides a helpful Frequently Asked Questions about PDFs.
Alternatively, you can download the PDF file directly to your computer, from where it can be opened using a PDF reader. To download the PDF, click the Download link above.
How To Cite This :
- There are currently no refbacks.