Prasetia, Albert Andika and Sarumpaet, Susi and Sukmasari, Dewi (2017) Impact of Political Events (Inauguration of Cabinet and Cabinet Reshuffles) on Industrial Sectors in Indonesia Stock Exchange. In: 17th Asian Academic Accounting Association- Bali Indonesia, 22-23 November 2017, Bali Indonesia.

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Abstract

The purpose of this research is to analyse Indonesian capital market’s reaction to cabinet formation and cabinet reshuffles, which is indicated by a change in abnormal return and trading volume activity. Event Study method was used to analyse the market reaction and paired sample t-test to analyse abnormal returns and Trading Volume Activity differences before and after the events for 90 companies listed in Indonesia Stock Exchange selected using purposive sampling method. Abnormal return and Trading Volume Activity were used to measure market reaction. Paired-Sample T-Test and Wilcoxon-Signed Rank Test were used to test market reaction before and after the event. The results showed in three political events observed, reaction only occurred on Trade, Service and Investment during before and after cabinet reshuffle volume I (abnormal return) and cabinet reshuffle volume II (Trading Volume Activity). Overall, political events observed does not contain enough information to trigger reactions in all market sectors. Keywords: Abnormal return, cabinet, Indonesia stock exchange, trading volume activity

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Depositing User: Susi Sarumpaet
Date Deposited: 18 Oct 2019 03:14
Last Modified: 18 Oct 2019 03:14
URI: http://repository.lppm.unila.ac.id/id/eprint/14433

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