Reaksi Pasar Dalam Bentuk Return Sebelum, Selama, dan Sesudah Peristiwa Piala Dunia Tahun 2014 pada Pasar Modal Asean

Abstract

A B S T R A C T
 Investor realized that the stock market gradually decreased during World Cup.The research aimed to analyze the return of market reaction which happenned before, during, and after World Cup 2014 on ASEAN stock market. The sample involved 181 companies were included in LQ-45, STI, FTSE BM KLCI, SET 50, PSEI index, which fulfilled the reseach criteria. The data analysis technique used was one sampel t-test with quantitative data. Based on the result, can be concluded that Indonesia and Thailand stock markets were higly effected by World Cup.
 A B S T R A K
 Investor mengetahui bahwa setiap piala dunia berlangsung, pergerakan saham melambat. Hal tersebut terbukti dengan terjadi penurunan return saham di pasar modal. Penelitian ini bertujuan untuk menganalisa reaksi pasar dalam bentuk return terjadi sebelum, selama dan sesudah piala dunia tahun 2014 pada pasar modal ASEAN. Sampel yang digunakan dalam penelitian ini sebanyak 181 perusahaan yang termasuk dalam indeks LQ-45, STI, FTSE BM KLCI, SET 50, PSEI dan memenuhi kriteria penelitian.Teknik analisa data menggunakan one sampel t-test dengan data kuantitatif. Hasil penelitian menemukan bukti bahwa pasar modal Indonesia dan Thailand sangat bereaksi terhadap peristiwa piala dunia tahun 2014.
 JEL Classification: G14, M20

Investor’s Mood at ASIAN Games Event

“…In the opposite occurred in Athen when there was a cancellation the venue as a host in 1996. Indonesia and Thailand were also very reacting to the world cup event 2014, so that can be concluded that at that time non economic event or event such as sport can give the impact to stock return (Pratiwi & Yusuf, 2015). According to the background and the previous research so the hypothesis in this research is H1 = occurring the significant abnormal return on the phenomena of Asian Games 2018 H2 = there is the significant different abnormal return in after or before in Asian Games 2018.…”

“…The research use 181 sample of the company includes in ASEAN capital market. The technique of the research conducted with analyze statistics one sample t-test with quantitative data (Pratiwi & Yusuf, 2015). On the five ASEAN countries that be observed, for 24 days observation with significant value 5% and 10%.…”

“…This research result showed the prove that the existence of fifa world cup event gave the psychological effect on investor in United (Kaplanski & Levy, 2008). The testing of phenomena that occurred globally or international is also conducted by Pratiwi & Yusuf (2015). This research result showed that the information of world cup 2014 had the meaningful to investors.…”

“…This research result showed that the information of world cup 2014 had the meaningful to investors. In phenomena of world cup 2014 showed influence to investor in Indonesia and Thailand, so causing a reaction to stock market (Pratiwi & Yusuf, 2015). The research that used data to fifteen countries that had done by Ehrmann 7 Jansen (2017), found out that activity of market has decreased during FIFA match event in 2010, it the same with when lunch time, and the result does not give effect to the theory.…”

Capital Market Reaction in Asean Member Countries Against Market Shock: Russia and Ukraine War

“…(Costa & Sukartha, 2020) conducted research on a comparison of market reactions in the US, China and Indonesia to the US-China Trade War negotiations, with the results of the study namely that there were differences in reactions between the American, Chinese and Indonesian stock markets to the announcement of the results of the US trade war negotiations -China. (Pratiwi & Yusuf, 2015) conducted research on capital market reactions before, during and after the 2014 world cup events on the ASEAN capital market, resulting that the Indonesian and Thai capital markets strongly reacted to the 2014 world cup events.…”