REAKSI PASAR MODAL TERHADAP PENGUMUMAN PAKET KEBIJAKAN EKONOMI JILID 1, 5, 7, 11 DAN 13

Adelia Nandira Maharani, Irni Yunita
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引用次数: 3

Abstract

The purpose of this research is to analize market reaction to the 1st, 5th, 7th, 11th and 13th economic policy packages. This research uses event study approach. Its measurement of market reaction would be seen from the difference of Abnormal Return and Trading Volume Activity before and after the events. Sample of this research was selected through purposive sampling techniques which include 12 firms. The data analysis used paired sample of t-test. These results indicated that there is no difference in abnormal returns before and after 1st, 5th, 7th and 13th economic policy packages announcement. There is a difference in abnormal returns before and after 11th economic policy packages announcement. There is no difference in trading volume activity before and after 1st, 5th, 7th, 11th and 13th economic policy packages announcement. Market reacts fast and protracted to the event which indicate that market is not efficient in semi strong-form.
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资本市场对《经济政策包》第一卷、第5,第7卷、第11卷和第13卷的反应
本研究的目的是分析市场对第1、5、7、11、13套经济政策的反应。本研究采用事件研究法。其对市场反应的度量可以从事件前后异常收益和交易量活动的差异中看出。本研究的样本是通过有目的的抽样技术选择的,其中包括12家公司。数据分析采用配对样本t检验。结果表明,第1、5、7、13个经济一揽子政策公布前后的异常收益没有差异。第11次经济政策出台前后的异常收益率有所不同。第1、第5、第7、第11、第13套经济政策公布前后的交易量没有差异。市场对事件的反应速度快,反应时间长,这表明市场在半强形式下不是有效的。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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0.00%
发文量
17
审稿时长
24 weeks
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