Apakah Pembatasan Sosial Berskala Besar Warga Negara Asing Berdampak Pada Average Abnormal Return?

Abstract

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.

Analisis Prediksi Kebangkrutan Dengan Metode Altman Z-Score di Masa Pandemi Covid-19

“…Merespon dengan adanya wabah ini, pemerintah Indonesia telah menerapkan kebijakan antara lain pembatasan sosial massal atau dikenal juga dengan PSBB (Lolu & Kelen, 2021). "Beberapa percaya bahwa langkah-langkah jarak sosial adalah gerakan pemerintah yang efektif guna memperlambat menyebarnya Covid-19" (Masrul et al, 2020).…”

Market Reactions to Emergency Community Activity Restrictions Policy

“…This decline in performance will also have an impact to the company's activities on the Indonesia Stock Exchange (IDX). Especially the shares of the restaurant, hotel, and tourism subsectors as the performance of issuers decreases, the trading profits obtained will decrease (Lolu & Kelen, 2021). Investor often looks at the internal factors and external factors of the company before investing in an issuer so considering the negative impact experienced by the restaurant, hotel, and tourism sectors due to the Emergency PPKM policy will certainly be a consideration for investors in making decisions.…”