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Reaction Analysis of Issuers Listed on the Indonesia Stock Exchange on the Impact of Covid

In: Proceedings of the 7th Global Conference on Business, Management, and Entrepreneurship (GCBME 2022)

Author

Listed:
  • Alwi Ihsan Nababan

    (Universitas Sumatera Utara)

  • Nisrul Irawati

    (Universitas Sumatera Utara)

  • Chairul Muluk

    (Universitas Sumatera Utara)

Abstract

The purpose of this research was to identify and analyze differences in Abnormal Return & Trading Volume Activity before and after the announcement of the first Covid-19 case in Indonesia, Micro-Scale PPKM, and Emergency PPKM in companies listed on the Indonesia Stock Exchange during the 2020–2021 period. Case study research is the method used (Event Study). An event study is a study of the market sentiment of an event. The population for this research is companies listed on the Indonesia Stock Exchange for 2020–2021, involving as many as 79 companies in the Healthcare, Technology, Transportation & Logistics sectors. Purposive sampling was used to collect samples from as many as 48 companies. The Differential Test, particularly the Paired Sample T-Test and the Wilcoxon Signed Rank Test, is used for analysis. There was no significant difference in abnormal returns before and after the announcement of the first case of Covid-19 in Indonesia, Micro-Scale PPKM, and Emergency PPKM in the Healthcare, Technology, Transportation, and Logistics sectors, according to the results. There is a significant difference in Trading Volume Activity before and after the announcement of the first case of Covid-19 in Indonesia in the Healthcare sector but not in the Technology or Transportation & Logistics sectors. There is a significant difference in Trading Volume Activity before and after Micro-Scale PPKM in the Healthcare and Technology sectors but not in the Transportation & Logistics sector. There is no significant difference in Trading Volume Activity in the Transportation & Logistics sector before and after the announcement of the first case of Covid-19 in Indonesia, Micro-Scale PPKM, and Emergency PPKM.

Suggested Citation

  • Alwi Ihsan Nababan & Nisrul Irawati & Chairul Muluk, 2024. "Reaction Analysis of Issuers Listed on the Indonesia Stock Exchange on the Impact of Covid," Advances in Economics, Business and Management Research, in: Ratih Hurriyati & Lili Adi Wibowo & Ade Gafar Abdullah & Sulastri & Lisnawati & Yusuf Murtadlo (ed.), Proceedings of the 7th Global Conference on Business, Management, and Entrepreneurship (GCBME 2022), pages 83-100, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-234-7_10
    DOI: 10.2991/978-94-6463-234-7_10
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