Analisis Reaksi Pasar Modal Terhadap Pengumuman Regulasi Loan To Value & Down Payment Bank Indonesia

Seprianti, Yeni (2015) Analisis Reaksi Pasar Modal Terhadap Pengumuman Regulasi Loan To Value & Down Payment Bank Indonesia. Undergraduate thesis, Universitas Katolik Musi Charitas.

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Abstract

This study aims to analyze the reaction of the capital market about loan to value and down payment regulation by Bank Indonesia announcements on July 11, 2013. This study uses event study, with abnormal return and trading volume activity variables. The population in this study was all companies about property and real estate sector, automotive and banking which listed in Indonesia Stock Exchange. While the sample is determined by purposive sampling technique, so obtained were as much 72 companies. Hypotheses are tested by nonparametric different test that Wilcoxon test, during the 10-day study with SPSS 17. Wilcoxon test showed no difference in the reaction before and after the announcement, both for abnormal return and trading volume activity. Daily abnormal return are tested by run test that showed there were significant abnormal return on the second day after the announcement, which is likely caused by the return of the previous week. So the market does not react to the announcement of the regulatory loan to value and the down payment by Bank Indonesia.

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