Market Reaction to the Implementation of Coal Royalty Tariff Policy in Indonesia
I Wayan Gde Wahyu Purna Anggara,
Ni Made Puji Andari
Abstract:The impact of government regulation on the mining industry is captivating to explore, specifically the newly reformed Coal Royalty Tariff. This present research captures the market's response to two tariff policy reforms, namely the Indonesian Government Regulation Number 25 of 2021 and Government Regulation Number 15 of 2022 building upon the semi-strong form market efficiency. T-Test analysis is used to test the hypothesis in which the abnormal returns from sample companies in the mining sector on the Indone… Show more
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