Abnormal return of Indonesian banking shares in the time of COVID 19
With the pandemic Covid, the Indonesian government issued a fiscal policy through the Financial Services Authority (POJK 11 2020) on National Economic Stimulus as Policy Countercyclical Impact Deployment Coronavirus Disease, 2019. This study analyzes the reaction markets banking sector in Indonesia...
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Ümit Hacıoğlu
2020-12-01
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doaj-38c7005b93194399b40b1cf9302615992020-12-12T16:58:13ZengÜmit HacıoğluInternational Journal of Research In Business and Social Science2147-44782020-12-019710811410.20525/ijrbs.v9i7.964817Abnormal return of Indonesian banking shares in the time of COVID 19Erna Handayani0https://orcid.org/0000-0003-0419-6920Universitas Muhammadiyah PurwokertoWith the pandemic Covid, the Indonesian government issued a fiscal policy through the Financial Services Authority (POJK 11 2020) on National Economic Stimulus as Policy Countercyclical Impact Deployment Coronavirus Disease, 2019. This study analyzes the reaction markets banking sector in Indonesia to the event announcement publication of these regulations. This quantitative study uses the Event Study methodology. This study uses abnormal return testing events on secondary data 45 Indonesian banks listed on the Jakarta Stock Exchange. The method of calculating the abnormal return uses the Market Model, with an estimated period of 21 days and a window period of 11 days. The research period was carried out between February 11 and March 20, 2020. The test carries out with an average of difference test before and after the event, with an error rate of 5%. Based on the cumulative abnormal return t-test, data shows that from minus five days, the regulation's announcement up to 5 days after which the market moves significantly negative. This event study is a news phenomenon of Indonesia's latest financial policies related to banking stocks during the Covid pandemic.http://ssbfnet.com/ojs/index.php/ijrbs/article/view/964abnormal returncovid 19banking monetary health |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Erna Handayani |
spellingShingle |
Erna Handayani Abnormal return of Indonesian banking shares in the time of COVID 19 International Journal of Research In Business and Social Science abnormal return covid 19 banking monetary health |
author_facet |
Erna Handayani |
author_sort |
Erna Handayani |
title |
Abnormal return of Indonesian banking shares in the time of COVID 19 |
title_short |
Abnormal return of Indonesian banking shares in the time of COVID 19 |
title_full |
Abnormal return of Indonesian banking shares in the time of COVID 19 |
title_fullStr |
Abnormal return of Indonesian banking shares in the time of COVID 19 |
title_full_unstemmed |
Abnormal return of Indonesian banking shares in the time of COVID 19 |
title_sort |
abnormal return of indonesian banking shares in the time of covid 19 |
publisher |
Ümit Hacıoğlu |
series |
International Journal of Research In Business and Social Science |
issn |
2147-4478 |
publishDate |
2020-12-01 |
description |
With the pandemic Covid, the Indonesian government issued a fiscal policy through the Financial Services Authority (POJK 11 2020) on National Economic Stimulus as Policy Countercyclical Impact Deployment Coronavirus Disease, 2019. This study analyzes the reaction markets banking sector in Indonesia to the event announcement publication of these regulations. This quantitative study uses the Event Study methodology. This study uses abnormal return testing events on secondary data 45 Indonesian banks listed on the Jakarta Stock Exchange. The method of calculating the abnormal return uses the Market Model, with an estimated period of 21 days and a window period of 11 days. The research period was carried out between February 11 and March 20, 2020. The test carries out with an average of difference test before and after the event, with an error rate of 5%. Based on the cumulative abnormal return t-test, data shows that from minus five days, the regulation's announcement up to 5 days after which the market moves significantly negative. This event study is a news phenomenon of Indonesia's latest financial policies related to banking stocks during the Covid pandemic. |
topic |
abnormal return covid 19 banking monetary health |
url |
http://ssbfnet.com/ojs/index.php/ijrbs/article/view/964 |
work_keys_str_mv |
AT ernahandayani abnormalreturnofindonesianbankingsharesinthetimeofcovid19 |
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