Apakah Pembatasan Sosial Berskala Besar Warga Negara Asing Berdampak Pada Average Abnormal Return?
Studi Pada Sub Sektor Pariwisata, Perhotelan, dan Restoran di Bursa Efek Indonesia
Keywords:
Event Study, Average Abnormal Return, Large-Scale Social Restrictions for Foreign NationalsAbstract
This study examines the differences in stock prices listed on the Indonesia Stock Exchange as measured using average abnormal returns on events (event studies) before and after the enactment of Large-Scale Social Restrictions for Foreign Citizens, especially COVID-19 which has an impact not only threatening human health but also has an impact on the economic sector. This condition will certainly have an impact on all sectors including stock trading on the Indonesia Stock Exchange, especially the Tourism, Hospitality, and Restaurant sub-sector. By using a sample of 41 companies on the Indonesia Stock Exchange with a research period of 3 months (16 November 2020 to 15 February 2021) the type of purposive sampling research that meets the criteria and using paired sample t-test, the results show that there is no difference Average Abnormal Return before and after the occurrence of a PSBB event for Foreign Citizens. So it can be concluded that the PSBB for Foreign Citizens has no impact on the average abnormal return obtained by investors.
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Fama, E. F. (1970). Efficient Capital Markets : A Review of Theory and Empirical Work. The Journal of Finance, 25(2), 383–417.
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Hartaroe, B. P., Mardani, R. M., & Abs, M. K. (2016). Prodi manajemen. 82–94.
Indonesia Stock Exchange Data Services Division. (2020). IDX Monthly Statistics MAY 2020. Idx, 28(07), 5.
Ismanto, J. (2020). Reaksi Pasar Modal Terhadap Pengumuman PSBB DKI Jakarta Jilid II ( Event Study LQ-45 Terdaftar BEI ). 3(2), 51–66. https://doi.org/https://doi.org/10.36277/edueco.v3i2.60
Kiky, A. (2020). Manajemen Risiko terhadap Black Swan Event Maret 2020 di Indonesia. Studi Kasus Efek Covid-19 Terhadap Pasar Modal Indonesia. Jurnal Bina Manajemen, 8(2), 90–105.
Kusnandar, D. L., & Bintari, V. I. (2020). Perbandingan Abnormal Return Saham Sebelum dan Sesudah Perubahan Waktu Perdagangan Selama Pandemi Covid-19. Jurnal Pasar Modal Dan Bisnis, 2(2), 195–202. https://doi.org/10.37194/jpmb.v2i2.49
Larasati, D., & Kelen, L. H. . (2021). Apakah Pembatasan Sosial Berskala Besar (PSBB) Berdampak Terhadap Average Abnormal Return? (Studi Pada Pasar Modal Indonesia). Jurnal Ilmu Manajemen Dan Bisnis, 11(1), 1–8.
Prof. Dr. Suryana, Ms. (2012). Metodologi Penelitian : Metodologi Penelitian Model Praktis Penelitian Kuantitatif dan Kualitatif. Universitas Pendidikan Indonesia, 1–243. https://doi.org/10.1007/s13398-014-0173-7.2
Putri, T. (2020). Reaksi pasar modal Indonesia terhadap fluktuasi Rupiah atas pandemi Covid-19. Jurnal Ilmiah Mahasiswa FEB Universitas Brawijaya, 8(2), 1–11.
Rifa’i, M. H., Junaidi., & Sari., A. F. K. (2020). Pengaruh Peristiwa Pandemi COVID-19 Terhadap Indeks Harga Saham Gabungan. E-Jra, 09(02), 1–13.
Sekaran, U. (2017). Metode Penelitian untuk Bisnis: Pendekatan Pengembangan-Keahlian (6th ed.). Salemba Empat, Jakarta Selatan.
Siahaya, S. L., V, J., & Litamahuputty. (2021). Analisis return sebelum dan sesudah kebijakan pembatasan sosial berskala besar pada perusahaan sektor perbankan bumn yang terdaftar di bursa efek indonesia. Jacomina V Akuntansi, Jurusan Negeri, Politeknik, 2(06), 8–17.
Sugiyono, P. (2018). metode penelitian kuantitatif. Bandung, Alfabeta.
Sultan, M., Diy, U., Ntb, U., Ratulangi, S., Sulut, U., Yani, A., & Jateng, U. (2020). Jumlah Kunjungan Wisatawan Mancanegara Menurut Pintu Masuk Dan Kebangsaan. 2019(Irts 2008), 1–15.
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