Jenis Industri, Kepemilikan Saham Asing Dan Reaksi Pasar Modal Akibat Serangan Bom Teroris

Utama, Cynthia Afriani; Hapsari, Lina

doi:10.21002/jaki.2012.07

Cited by 9 publications

(10 citation statements)

References 18 publications

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“…Beta is usually estimated using a standard market model, with the statistical model linking stock returns with the market index [26]. This study uses an estimation period of 210 days as the observation period for estimating beta values [27].…”

Section: Betamentioning

confidence: 99%

Market Reaction to Announcement of the Corporate Governance “Comply or Explain” Regulation and Determinants of Compliance Level

Anintyarini¹,

Utama²

2019

Proceedings of the 12th International Conference on Business and Management Research (ICBMR 2018)

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The purpose of this study is to investigate the market reaction in Indonesia to the announcement of the Financial Services Authority Regulation (POJK) on the implementation of corporate governance guidelines using a "comply or explain" approach. In addition, the study examines the effects of trends in industry (financial industry or other industries) and the degree of ownership concentration on compliance with the POJK, as intended, in the annual reports of companies. An event study test reveals that the POJK's announcement has not been responded to by the market. The public had been aware of the regulation in the context of corporate governance for certain particular industries, in addition to other specific regulations, prior to it being issued by the Financial Services Authority (OJK). Furthermore, the results of the analysis revealed a higher trend for compliance with the POJK for the financial industry. This is indicative of more accountable and transparent management within the financial industry. In relation to ownership concentration, firms with high ownership concentrations have tended not to contravene the POJK with respect to the inclusion in their annual reports of the implementation of corporate governance guidance, since these regulations are mandatory for all public firms.

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Section: Betamentioning

confidence: 99%

Market Reaction to Announcement of the Corporate Governance “Comply or Explain” Regulation and Determinants of Compliance Level

Anintyarini¹,

Utama²

2019

Proceedings of the 12th International Conference on Business and Management Research (ICBMR 2018)

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“…Baker (2014) membahas dampak terorisme terhadap industri pariwisata. Penelitian di Indonesia terkait dengan serangan teroris dilakukan oleh Utama and Hapsari (2012) menganalisis reaksi pasar modal akibat serangan bom teroris berdasarkan jenis industri dan kepemilikan saham asing. Meskipun beberapa studi telah dilakukan, tetapi masih menyisakan dua pertanyaan apakah sentimen negatif tersebut dialami oleh mayoritas perusahaan atau hanya terjadi pada perusahaan dengan karakateristik tertentu saja.…”

Section: Pendahuluanunclassified

“…Investor segera menjual sahamnya sehingga mengakibatkan harga saham akan mengalami penurunan atau terjadi sentimen negatif. Beberapa penelitian yang berhubungan serangan terorisme pernah dilakukan antara lain oleh Utama and Hapsari (2012); Kumar and Liu (2013); Aurangzeb and Dilawer (2012);Baker (2014);Najaf (2017) yang menemukan adanya sintemen negatif terhadap peristiwa terorisme. Berdasarkan hal tersebut, maka diajukan hipotesis sebagai berikut; H1: Terdapat sentimen negatif akibat terjadinya peristiwa serangan bom Sarinah pada 14 Januari 2016.…”

Section: Pendahuluanunclassified

Sentimen Investor Terhadap Peristiwa Terorisme Berbasis Fundamental Perusahaan (Studi pada Peristiwa Serangan Bom Sarinah 14 Januari 2016)

Handoko¹,

Supramono²

2017

jak

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ABSTRAKSentimen investor adalah perasaan individu yang optimis atau pesimis yang berlebihan terhadap suatu situasi, yang menentukan terbentuknya harga di pasar saham. Penelitian ini bertujuan untuk menguji apakah terdapat sentimen investor atas serangan bom yang terjadi di kawasan Sarinah pada 14 Januari 2016. Penelitian ini melibatkan 65 perusahaan dari indeks LQ45 dan PEFINDO25 sebagai sampel, yang terbagi menjadi dua kelompok antara lain kelompok perusahaan dengan fundamental baik dan kelompok perusahaan dengan fundamental kurang baik. Hasil penelitian ini menunjukkan bahwa terdapat sentimen negatif atas peristiwa pengeboman pada 14 Januari 2016, bahkan terjadi overreaction pada kelompok perusahaan dengan fundamental kurang baik.Kata kunci: Sentimen investor; fundamental perusahaan; over reaksi. ABSTRACT Investor sentiment is an optimistic or excessively pessimistic individual feeling towards a situation, which determines the formation of prices in the stock market. This study aims to test whether there is investor sentiment for bomb attacks that occurred in Sarinah on

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“…It is because the price is a reflection of all relevant information (Efficient Market Hypothesis) (Fama, Cochrane, & Moskowitz, 2017). In making investment decisions, investors use information such as information relating to fundamental conditions of the company such as financial statements and corporate action announcements as well as macroeconomic factors such as the level of industrial growth, inflation rate, and interest rate (Utama, 2012). However, it is undeniable that non-economic events can impact the capital market.…”

Section: Introductionmentioning

confidence: 99%

Indonesian Capital Market Reaction to Covid-19 as a Global Pandemic

Kamala¹,

Fajar

2020

SAR

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This study aims to obtain empirical evidence of the absence of an average abnormal return, average volume trading activity, and bid-ask spread of stocks in the period around the event of the COVID-19 announcement as a global pandemic. The statement of the COVID-19 as the global pandemic of the World Health Organization (WHO) made the Indonesian capital market touch the lowest point at the level of 4,929.56. This study used the event study with the windows period for 11 days, which was five days before the announcement, the day of the announcement, and five days after the announcement. This type of research was a quantitative research using secondary data of the stock daily data obtained from the official website of the Indonesia Stock Exchange at www.idx.co.id and also some other sites that support such as Yahoo Finance. Sampling techniques used were purposive sampling and as many as 44 companies that meet data completeness criteria. The data analysis technique used was a non-parametric t-test using the Wilcoxon Signed-Rank test. The results of this study show that there is a difference in Average Abnormal Return in the period t-5 & t+5, t-4 & t+4, t-2 & t+2, and t-1 & t+1. The Average Trading Volume Activity indicates there is no significant difference in all periods of observation between before and after the announcement. Meanwhile, the Bid-Ask Spread shows a significant difference before and after the announcement in all periods for 11 days of observation.

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Jenis Industri, Kepemilikan Saham Asing Dan Reaksi Pasar Modal Akibat Serangan Bom Teroris

Cited by 9 publications

References 18 publications

Market Reaction to Announcement of the Corporate Governance “Comply or Explain” Regulation and Determinants of Compliance Level

Market Reaction to Announcement of the Corporate Governance “Comply or Explain” Regulation and Determinants of Compliance Level

Sentimen Investor Terhadap Peristiwa Terorisme Berbasis Fundamental Perusahaan (Studi pada Peristiwa Serangan Bom Sarinah 14 Januari 2016)

Indonesian Capital Market Reaction to Covid-19 as a Global Pandemic

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