Reaction of the Indonesian Capital Market to the Increasing Fuel Prices (Bbm) in Indonesian Composite Index (Ihsg)

Fitriaty, Fitriaty; Saputra, Muhammad Haris

doi:10.22437/jbsmr.v6i1.23260

Cited by 2 publications

(6 citation statements)

References 4 publications

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“…This can be seen by the difference in Trading Volume Activity (TVA) before and after the announcement. According to Fitriaty & Saputra (2022) the increase in fuel prices has an impact on Trading Volume Activity (TVA). The following table summarizes the results of previous research on TVA.…”

Section: Stock Liquiditymentioning

confidence: 99%

“…The following table summarizes the results of previous research on TVA. (Liogu & Saerang, 2015) Trading Volume Activity + (Fitriaty & Saputra, 2022) Trading Volume Activity + (Choriliyah et al, 2016) Trading Volume Activity + (Femianita & Asandimitra, 2014) Trading Volume Activity + (Tiswiyanti & Asrini, 2015) Trading Volume Activity - (Chandra, 2013) Trading Volume Activity -H2: There is a significant difference in average stock liquidity before and after the announcement of the 2022 fuel price increase.…”

Section: Stock Liquiditymentioning

confidence: 99%

“…Studies on this topic have been discussed by several previous researchers, including Laksmi & Ratnadi (2015); Febriyanti & Rahyuda (2016); Choriliyah et al, (2016); Utami & Purbawangsa (2021); Tiswiyanti & Asrini (2015); Anita & Veronica (2016); Femianita & Asandimitra (2014); Chandra (2013); Liogu & Saerang (2015); Fitriaty & Saputra (2022). First, Laksmi & Ratnadi (2015) discovered the announcement of a fuel price decrease that occurred specifically on January 1, 2015, found no difference in abnormal returns of transportation companies between before and after the announcement of the decrease occurred.…”

Section: Introductionmentioning

confidence: 99%

“…Research conducted by Femianita & Asandimitra (2014) found that there were significant differences in abnormal returns and Trading Volume Activity (TVA) during the 2013 fuel price increase. Based on research by Fitriaty & Saputra (2022) found there were differences in abnormal returns and TVA in companies listed in the Composite Stock Price Index (JCI) on the 2022 fuel price increase. Chandra (2013) found that there were no differences in abnormal returns and TVA of LQ 45 companies during the announcement of the 2013 fuel price increase.…”

Section: Introductionmentioning

confidence: 99%

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Stock Market Reaction to The Announcement of 2022 Fuel Price Increase on JII-30

Zidniilman,

Devia

2023

JESTT

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The growth of investors in the capital market always increases every year. The growth of investors in the capital market based on the Indonesian Central Securities Depository (KSEI) increased by 15.96% in 2022. As an investor, of course, the role of information is taken into account in making investments. The announcement of the fuel price increase is one of the available information and can be used as a reference in determining investment decisions. This study aims to determine the response of Jakarta Islamic Index 30 (JII-30) investors to the price increase (BBM) by observing the difference in abnormal returns and trading volume activity before and after the announcement of the 2022 fuel price increase. This research is quantitative and uses the event study method. Based on the research obtained results that between before and after the event occurred, abnormal returns and Trading Volume Activity (TVA) there was no significant difference influenced by the increase in fuel prices. This shows that there is no investor response to the announcements of the fuel price increase. Investors can be wiser and more careful in responding to announcement information and making decisions that will be applied in investing and investors can sort out in advance related announcements and issues as a consideration before making decisions in investing. Keywords: Abnormal Return, Stock Liquidity, Trading Volume Activity, Event Study. ABSTRAK Pertumbuhan investor di pasar modal selalu meningkat dalam setiap tahunnya. Pertumbuhan investor di pasar modal berdasarkan Kustodian Sentral Efek Indonesia (KSEI) meningkat sebesar 15,96% di tahun 2022. Sebagai seorang investor, tentunya peran informasi adalah salah satu yang diperhitungkan dalam melakukan investasi. Pemberitaan kenaikan harga BBM merupakan salah satu informasi yang tersedia dan dapat dijadikan acuan dalam menentukan keputusan dalam berinvestasi. Penelitian ini bertujuan untuk mengetahui respon investor Jakarta Islamic Index 30 (JII-30) pada kenaikan harga (BBM) melalui pengamatan terhadap perbedaan abnormal return dan juga trading volume activity antara sebelum dan sesudah pemberitaan kenaikan harga Bahan Bakar Minyak (BBM) 2022. Penelitian ini merupakan penelitian kuantitatif dan mengunakan metode event study. Berdasarkan penelitian diperoleh hasil bahwa antara sebelum dan setelah event terjadi, abnormal return dan Trading Volume Activity (TVA) tidak terdapat perbedaan signifikan yang dipengaruhi oleh kenaikan harga BBM. Hal tersebut menunjukan tidak adanya respon investor terhadap pemberitaan kenaikan harga BBM. Investor dapat lebih bijak dan cermat dalam menyikapi pemberitaan informasi dan mengambil keputusan yang akan diterapkan dalam berinvestasi serta investor dapat memilah terlebih dahulu terkait berita dan isu sebagai pertimbangan sebelum mengambil keputusan dalam berinvestasi. Kata Kunci: Abnormal Return, Likuiditas Saham, Volume Aktivitas Perdagangan, Event Study.

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Section: Stock Liquiditymentioning

confidence: 99%

Section: Stock Liquiditymentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Stock Market Reaction to The Announcement of 2022 Fuel Price Increase on JII-30

Zidniilman,

Devia

2023

JESTT

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“…Penelitian Femianita & Asandimitra (2018), terhadap peristiwa kenaikan BBM pada Juni 2013, hasil yang didapatkan adalah terdapat perbedaan rata-rata abnormal return perdagangan sebelum dan sesudah pengumuman kenaikan harga BBM secara signifikan. Penelitian dengan hasil yang sama diperoleh Fitriaty & Saputra (2022), yaitu terdapat perbedaan return pasar dan volume perdagangan pada IHSG sebelum dan sesudah kenaikan harga BBM, hal tersebut mengindikasi bahwa kenaikan BBM berpengaruh pada pergerakan pasar modal Indonesia.…”

Section: Pendahuluanunclassified

Reaksi Pasar Modal Akibat Pengumuman Kenaikan Harga Bahan Bakar Minyak pada Saham LQ45 Bursa Efek Indonesia

Sari,

Candraningrat

2023

E-Jurnal Akuntansi

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The announcement of an increase in fuel prices is an informative event for investors and can influence share prices in the capital market. This research aims to determine the capital market reaction due to the announcement of an increase in fuel prices on September 3 2022. This research was conducted on companies listed on the BEI LQ45 index using a saturated sampling technique. The date for the event is set on Monday, September 5 2022, which is the first trading day after the announcement of the fuel price increase on September 3 2022 taking effect. The event period in this research is 7 trading days. Hypothesis testing in this research uses one sample t-test. The research results show that the announcement of the fuel price increase on September 3 2022 did not create significant abnormal returns around the event, which shows that the market is in an efficient condition in a semi-strong form. Keywords: Abnormal Return; Efficient Market Hypothesis; Fuel Price Increase; Capital Market Reaction; Signaling Theory

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Reaction of the Indonesian Capital Market to the Increasing Fuel Prices (Bbm) in Indonesian Composite Index (Ihsg)

Cited by 2 publications

References 4 publications

Stock Market Reaction to The Announcement of 2022 Fuel Price Increase on JII-30

Stock Market Reaction to The Announcement of 2022 Fuel Price Increase on JII-30

Reaksi Pasar Modal Akibat Pengumuman Kenaikan Harga Bahan Bakar Minyak pada Saham LQ45 Bursa Efek Indonesia

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