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Analysis of Abnormal Returns Before and After the Announcement of the Merger of State-Owned Sharia Banks

AL-ARBAH: Journal of Islamic Finance and Banking

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Title Analysis of Abnormal Returns Before and After the Announcement of the Merger of State-Owned Sharia Banks
 
Creator Putri, Indah Amalia
Mubarok, Ferry Khusnul Mubarok
Wahyudi, Rofiul
 
Subject —
Stock Prices, Mergers, Abnormal Returns, Islamic Banks.
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Description AbstractPurpose - This study aims to examine the capital market's reaction to the merger of BUMN Syariah Banks, which is seen as abnormal returns at PT Bank BRI Syariah Tbk.Method - The data for this study were taken ten days before and ten days after announcing the BUMN Sharia Bank merger. The data was processed by paired sample t-test using SPSS.Result - Based on the analysis and discussion results, it shows that there is no market reaction to the announcement of the signing of the BUMN Islamic bank merger on BRIS shares as seen from the abnormal returns before and after the signing of the merger, which there is no significant difference.Implication - This can happen because the world is currently facing the COVID-19 pandemic, which causes market uncertainty. In addition, abnormal returns are not the only indicator to measure the wealth created by an event. Another factor that causes no significant difference in abnormal returns is that the data used in the event window research is daily and short enough to have no visible reaction. Furthermore, the issue of a merger has also been circulating before the announcement of the signingOriginality- This article examines abnormal returns before and after the announcement of the merger of State-Owned Sharia Banks 
 
Publisher Universitas Islam Negeri (UIN) Walisongo Semarang
 
Contributor —
 
Date 2021-12-31
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
Quantitaitve
 
Format application/pdf
 
Identifier https://journal.walisongo.ac.id/index.php/arbah/article/view/10097
10.21580/al-arbah.2021.3.2.10097
 
Source AL-ARBAH: Journal of Islamic Finance and Banking; Vol 3, No 2 (2021); 111-126
2716-2575
2716-3946
 
Language eng
 
Relation https://journal.walisongo.ac.id/index.php/arbah/article/view/10097/pdf
 
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Rights Copyright (c) 2021 AL-ARBAH: Journal of Islamic Finance and Banking
http://creativecommons.org/licenses/by-nc-sa/4.0