Skip to main navigation menu Skip to main content Skip to site footer

Business and Economics

Vol 3 (2020): December

Capital Market Reaction Analysis Before and After Bank Indonesia's Decision Regarding Interest Rates
Analisis Reaksi Pasar Modal Sebelum Dan Sesudah Keputusan Bank Indonesia Mengenai Suku Bunga



(*) Corresponding Author
DOI
https://doi.org/10.21070/acopen.3.2020.1149
Published
August 30, 2021

Abstract

The development of capital market activities can not be separated from the role of investors as investors and disclosure of information as consideration of investor decision making.This research aims to find out how the capital market reacts before Bank Indonesia's decision on interest rates.And to find out how the capital market reacted after Bank Indonesia's decision on interest rates.This research uses quantitative research that is event study. Data collection of financial statements at the Investment Gallery of the Indonesia Stock Exchange, University of Muhammadiyah Sidoarjo.The population in this study includes LQ45 companies that have been listed on the Indonesia Stock Exchange, with sampling techniques namely total sampling.Data analysis using T-test. The results of this study prove that there is a difference in the average abnormal return before and after Bank Indonesia's decision on interest rates as evidenced by the value of Sig.(2-tailed) is 0.000 less than 0.005 and there is a difference in average trading volume activity before and after Bank Indonesia's decision on interest rates as evidenced by the value of Sig.(2-tailed) 0.000 less than 0.005.

References

  1. Purnawati, i gusti ayu, & Werastuti, desak nyoman sri. (2013). Faktor Fundamental Ekonomi Makro Terhadap Harga Saham LQ 45. Keuangan Dan Perbankan
  2. Tandelilin, E. (2010). Portofolio dan Investasi (Teori dan Aplikasi).
  3. Anoraga, P. dan P. P. (2003). Pengantar Pasar Modal.
  4. Marzuki, U. (1989). Pasar Modal Sebagai Piranti untuk Mengalokasi Sumberdaya Ekonomi Secara Optimal Management & Usahawan Indonesia.
  5. Hengky, A. dan M. (2014). Perbedaan Average Abnormal Return, Average Trading Volume Activity Sebelum dan Sesudah Pemilu di Indonesia.
  6. Brunner, M. (2009). Does Politics Matter? The influence of elections and government formation in the netherlands on the amsterdam exchange index. 44 (2).
  7. Samsul, M. (2006). Pasar Modal dan Manajemen Portofolio. Erlangga.
  8. Tzachi, Z. (2003). Political events and stock market: Evidence of Israel.
  9. Hartawan, I Made Pradana Adiputra, N. A. surya D. (2015). Analisis Perubahan Volume Perdagangan Saham dan Abnormal Return Sebelum dan Sesudah Pemilu Legislatif 09 April 2014 (Event Study pada Sektor-Sektor Industri di Bursa Efek Indonesia). 3.
  10. Kabiru, James Ndungu, D. E. O. dan H. W. K. (2015). The Effect of General Elections on Stock at The Nairobi Securities Exchange. 11(28).
  11. Manurung, J. (2005). Ekonometrika: Teori dan Aplikasi. PT. Elex Media Komputindo
  12. Jogiyanto. (2010). Teori Portofolio dan Analisis Investasi. BPFE.
  13. Respati, N. W. (2014). Reaksi Pasar Modal Terhadap Pengumuman Sengketa Hasil Pemilihan Presiden. JSAI., 1(1), h:12-20.
  14. Linawati, D. (2009). Dampak Pengumuman Kenaikan BI Rate Tanggal 07 Oktober 2008 Terhadap Abnormal Return dan Trading Volume Activity. Diponegoro Journal of Management.
  15. Rokhman, M.T.N., Afandy, D.P., & Kiptiyah, S. M. (2009). Analisis Return, Abnormal Return, Aktivitas Volume Perdagangan dan Bid-Ask Spread Saham di Seputar Pengumuman Stock Split. Vol. 12.
  16. Parmadi, N. K. A. R., Adiputra, I. M. P., & Dharmawan, N. A. S. (2014). Analisis Reaksi Investor Terhadap Kenaikan Harga Bahan Bakan Minyak di Bursa Efek Indonesia. E-Journal Akuntansi Universitas Pendidikan Ganesha, 2(1).
  17. Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif dan R&D. 39.
  18. Vahini, Y. P. dan N. W. A. P. (2015). Event Study: Analisis Reaksi Investor Pada Publikasi Laporan Keuangan Tahunan. EJurnal Akuntansi Universitas Udayana, 13(2), h:387-404

Downloads

Download data is not yet available.