The capital market is not only a funding facility for the companies but also means for investment activities. So many roles of the capital market in economic activities will have an impact on the sensitivity of the market reaction to events that occur. At the end of 2019, a new virus emerged in China, called the Corona Virus Disease 2019 or COVID-19. In Indonesia, the first case of COVID-19 was approved directly by President Joko Widodo on March 2020. The purpose of this research is to discover informations regarding the first reporting of COVID-19 in Indonesia, as well as abnormal return, frequency of trade, and market capitalization before and after the event. The observation began 30 days before the event and 30 days after the event. This study uses quantitative research in the comparative method. The sample uses judgment sampling with total of 22 food and beverage companies listed on the Indonesia Stock Exchange. The finding show did not contain information that caused the market to be disapproved. This is proven by the absence of significant results in daily tests on the indicators. The results were also not significant in the combined abnormal return test and the combined market capitalization test. The trade comparison test results show a significant difference which means there was a market-panic towards trading activities after the event that caused some frequency differences, before and after the event in terms of trade transactions.Keywords: Event Study, Abnormal Return, Trading Frequency, Market Capitalization

The release of bank’s intellectual capital is one of the important elements of bank’s annual reports. Although it is not presented adequately in the annual reports, voluntary disclosure of bank’s intellectual capital relatively represents the response to the needs of greater information for the users. This research aims to see the influence of corporate governance on the intellectual capital disclosure based on a case study on private banks in Indonesia. The variables to be examined in the research include the Composition of Independent Commissioners as well as The Competence of Audit Committee and Risk Oversight Committee. The samples were taken using purposive sampling, considering particular criteria. As many as 62 banks are selected to be taken as research samples. The data were analyzed using multiple linear regression analysis method. The result of a partial test shows that the Composition of Independent Commissioners has a positive and significant influence on the intellectual capital disclosure; the Competence of Audit Committee has a positive and significant influence on the intellectual capital disclosure; and the Competence of Risk Oversight committee does not influence the intellectual capital disclosure. Meanwhile, the result of a simultaneous test shows that the Composition of Independent Commissioners, the Competence of Audit Committee, and the Competence of Risk Oversight Committee significantly influence the intellectual capital disclosure.

Abstrak:    Pasar modal merupakan salah satu indikator kemajuan perekonomian. Gambaran keadaan politik mencerminkan keadaan pasar, sehingga mempengaruhi psikologi Investor dalam mengambil keputusan Investasi. Pasar Modal bereaksi terhadap peristiwa yang mengandung informasi. Peristiwa berpengaruh terhadap terbentuknya fluktuasi harga saham, misalnya peristiwa 22 Mei 2019. Penelitian ini dilakukan dengan tujuan untuk mengetahui Reaksi Pasar terhadap pengumuman kemenangan, berbasis data pergerakan harga saham 14 hari sebelum dan sesudah peristiwa. Jenis Penelitian yang digunakan berupa penelitian kuantitatif menggunakan data sekunder, return dan volume harga saham perusahaan BUMN go public, kemudian diuji beda paired samples test. Hasil Penelitian menunjukkan terdapat perbedaan Abnormal Return yang signifikan. Artinya, pasar bereaksi terhadap Pengumuman Kemenangan, dikarenakan pergerakan harga saham masih dipengaruhi oleh suatu informasi dan peristiwa. Sedangkan, indikator Abnormal TVA menunjukkan hasil yang unik, yaitu tidak terdapat perbedaan aktivitas perdagangan abnormal secara parsial namun terdapat perbedaan signifikan dalam uji ATVA gabungan. Investor pada saham BUMN mempercayai value saham BUMN sehingga tidak mudah terpengaruh informasi jangka pendek. Akan tetapi, dalam transaksi saham BUMN (uji Abnormal TVA gabungan), sebagian kecil aktivitas dari Investor saham BUMN yang panik, serta aktivitas trader, dapat terlihat, sehingga terdapat perbedaan yang signifikan pada rata-rata aktivitas perdagangan Investor.Kata Kunci:   Event Study, Abnormal Return, dan Abnormal TVA

The capital market is one indicator of a country's economic progress, which contributes to the economic development of a country. Which can be described as a country's wheels, the source of funds for companies that are the support of a country. This research was conducted with the goals of studying accuracy support resistance by using Fibonacci retracement indicators based on candlestick stock price movements. The type of research used consists of a type of quantitative research using secondary data that contains a graph of the stock price of the LQ45 index mining sector which then carried out a different sample dependent test.The results of this study indicate that the support and resistance on the Fibonacci Retracement indicator has a difference with the selection price so that it can complete estimates of inaccurate support resistance.

President Joko Widodo had been inaugurated ministers in the Advanced Indonesia Cabinet that will help him to undergo the wheels of government in the 2019-2024 period on October 23, 2019. The inauguration is one of the important event in the capital market shows that there are some reactions of the event. The aims of this study to see how the reaction of capital market by looking at the differences of the variabels abnormal return, trading volume activity and trading frequency of stock before and after the event. The research object is 20 companies of state-owned corporation on period during September–November 2019. The analytical method used to test is compares two means from each variables. The observation period is 14 days which is 7 days before and 7 days after event. This hypothesis test used paired sample t-test analysis. The result of this research shows that there is significant differences between abnormal return before and after of event, there is no significant differences between trading volume activity before and after of event, and there is a significant differences between trading frequency before and after event. Keywords: Event Study, Abnormal Return, Trading Volume Activity, Frequency of Stock Trading