Reaksi Pasar Atas Pemilu Presiden 2014 (Studi Pada Emiten Yang Listing di Jakarta Islamic Index)
Abstract: The results of the
presidential elections can provide a signal for investors to make decisions to
invest. The purpose of this study was to determine the market reaction to the
results of the presidential elections. Market reaction in this study is indicated
by the presence of abnormal returns around the announcement date and the
difference in trading volume activity before and after the announcement. This
study is a quantitative research by using event study method with 25 issuers
that listed on the Jakarta Islamic Index during the study period. The study was
conducted during the 121 days consisting of 100-day estimation period and
21-day observation period. Statistical calculation in this study showed
insignificant results both in the AAR and TVR. It means there is no impact from
the announcement of the presidential election’s result because the investors
may have been anticipating the result of the announcement.
Keywords: The result of
presidential election, Abnormal Return, Trading Volume Activity
Penulis: Astuti Kurniawati,
Leo Herlambang
Kode Jurnal: jpmanajemendd151435
