Authors:

Chrismendo Haniel Caesario, Made Gede Wirakusuma

Abstract:

“The capital market has an important role for a country’s economy because it functions as a means of corporate funding and a place for people to invest in financial instruments. One of the factors that affect the capital market is government policies, for example, the policy of lifting the Implementation of Community Activity Restrictions (PPKM) on December 30, 2022. Based on data from the Jakarta Composite Index (JCI) taken on the Indonesia Stock Exchange (IDX) website, it shows price fluctuations throughout the announcement period, which is 3 days before and after the announcement. This study aims to obtain empirical evidence related to market reactions to the decision to repeal PPKM in Indonesia. The sample determination method uses the purposive sampling technique method. The data usedis secondary data obtained from the Indonesia Stock Exchange throughout the event window. Data analysis techniques using Paired Sample T-Test. Based on the results of purposive sampling, there were 45 sample data used. The results of the analysis show that the average abnormal return on shares during the period before and after the event is always negative, it can also be seen from the results of the analysis that the average Trade Volume Activity (TVA)period before and after the announcement, is negative. This research is able to make an empirical contribution to the development of market efficiency theory as well as additional information related to market reactions in responding to government policies, namely the repeal of PPKM in Indonesia.”

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PDF:

https://jurnal.harianregional.com/eeb/full-98781

Published

2023-07-31

How To Cite

CAESARIO, Chrismendo Haniel; WIRAKUSUMA, Made Gede. REAKSI PASAR TERHADAP PENGUMUMAN PENCABUTAN PPKM DI INDONESIA.E-Jurnal Ekonomi dan Bisnis Universitas Udayana, [S.l.], p. 1438-1449, july 2023. ISSN 2337-3067. Available at: https://ojs.unud.ac.id/index.php/EEB/article/view/98781. Date accessed: 28 Aug. 2025. doi:https://doi.org/10.24843/EEB.2023.v12.i07.p19.

Citation Format

ABNT, APA, BibTeX, CBE, EndNote - EndNote format (Macintosh & Windows), MLA, ProCite - RIS format (Macintosh & Windows), RefWorks, Reference Manager - RIS format (Windows only), Turabian

Issue

VOLUME.12.NO.07.TAHUN.2023

Section

Articles

Creative Commons License This work is licensed under a Creative Commons Attribution 4.0 International License