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LQ45 Stock Index Abnormal Return Reaction to the Covid-19 Pandemic: the Even Study Methodology

Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE)

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Title LQ45 Stock Index Abnormal Return Reaction to the Covid-19 Pandemic: the Even Study Methodology
 
Creator Solihin, Ikin
Sugiarto, Sugiarto
Ugut, Gracia Shinta S.
Hulu, Edison
 
Description LQ45 Index stocks are liquid stocks with high market capitalization, have a high trading frequency, growth prospects, and fairly good financial conditions, are not volatile and have been objectively selected by the IDX. This research aims to determine the abnormal return of LQ45 Stock Index to the covid-19 pandemic. This research uses even study method with population consisted entirely of daily data from the ten most populous cities in the United States. The result of this study shows that there are significant differences in abnormal returns before and after the announcement of the Covid-19 pandemic by WHO. The announcement of this pandemic is responded to as a negative signal by investors so that information regarding the announcement of the Covid-19 pandemic by the WHO is responded to early and at the time of launching the information no longer had any effect because the prices had moved towards equilibrium. The future research that extend the research time period and include other external factors such as lockdown policies or inflation is needed as the limitation in this research.
 
Publisher Prodi. Ekonomi Syariah, Institut Pesantren KH Abdul Chalim
 
Date 2022-03-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://e-journal.ikhac.ac.id/index.php/iijse/article/view/2051
10.31538/iijse.v5i1.2051
 
Source Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE); Vol 5 No 1 (2022): Sharia Economic: January, 2022; 342-355
2621-606X
10.31538/iijse.v5i1
 
Language eng
 
Relation https://e-journal.ikhac.ac.id/index.php/iijse/article/view/2051/863
 
Rights Copyright (c) 2022 Ikin Solihin, Sugiarto Sugiarto, Gracia Shinta S. Ugut, Edison Hulu
http://creativecommons.org/licenses/by-sa/4.0