Reaksi Pasar Modal Terhadap Pengumuman Pemindahan Ibu Kota Jakarta (Studi Pada Sektor Basic Industry di Bursa Efek Indonesia)

Gunawan, Indra (2021) Reaksi Pasar Modal Terhadap Pengumuman Pemindahan Ibu Kota Jakarta (Studi Pada Sektor Basic Industry di Bursa Efek Indonesia). Undergraduate thesis, Universitas Katolik Musi Charitas.

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Abstract

This study aims to examine the capital market's reaction to the announcement of the relocation the capital city of Jakarta in the basic industry sectors. In this study, market reaction is measured using the average abnormal return using the market model approach. The population in this study uses basic industry sector companies listed on the Indonesia Stock Exchange. The sample in this study using purposive sampling method. This study uses a one-sample t-test to test market reactions around the observation period of the announcement the relocation the capital city of Jakarta. The results showed that the market did not react significantly positively around the observation period on the announcement the relocation the capital city of Jakarta to the basic industry sectors and the Indonesian capital market already efficient in a semi-strong form. Keywords: market reaction, event study, average abnormal return, relocation of the capital city of Jakarta, efficient semi-strong form

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