The Short-Term Influences of Covid-19 Pandemic on Indonesia Stock Exchange

Khairunnisa Nadhifah Syahfiraputri, Rr Prasetiowati, H Hersugondo

Abstract


This study aimed to discern the short-term influences of the Covid-19 pandemic on the Indonesia Stock Exchange. The stocks from nine industries in Indonesia Stock Exchange were putting to use in this study. In this study, the short-term cumulative abnormal return was calculated by applying the data taken from 59 days of trading after the confirmation notice of the first Covid-19 case in Indonesia. The result of the study depicted a Return in the event window (+1,+9) dropped drastically, which later bounced back; There was no cumulative abnormal return in the pre-event, and Cumulative abnormal return started to appear during event and post-event.


DOI: 10.26905/jkdp.v25i3.5796



Keywords


Abnormal Return; Indonesia Stock Exchange; Short-Term Effect; Event Study; Industry Group; Covid-19 Announcement

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DOI: https://doi.org/10.26905/jkdp.v25i3.5796

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Jurnal Keuangan dan Perbankan (Journal of Finance and Banking)

Diploma Program of Banking and Finance, Faculty of Economics and Business, University of Merdeka Malang

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