The Analysis of Market Reaction to Bank Indonesia Policy in Credit Sector

Abstract: Credit policy implemented by Bank Indonesia is included in the published information  (public  information)  that  affect  the  prices  of  securities  of  all companies listed on the stock market. Bank Indonesia policy is said to contain information  in  case  of  changes  in  stock  prices.  The  purpose  of  this  research was to analyzing the  market reaction to Bank Indonesia policy, which is  seen from  Abnormal  stock  Return,  include  CAR,  AAR  and  CAAR.  Analysis  tools used  in  this  research  include  descriptive  analysis,  normality  testing  and hypothesis  testing.  The  results  of  this  research  show  there  are  10  companies which  have  positively  significant  to  Bank Indonesia’s credit policy. While  the other  3  companies  have negatively significant to Bank Indonesia’s credit policy.  

Keywords: Abnormal Return, BI Policy, Credit

Author: Abednego Priyatama, Dr. Prihantoro

Journal Code: jpmanajemengg140129

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