Pengaruh Peristiwa Non Ekonomi Terhadap Reaksi Pasar Saham-Saham Indeks LQ-45 Di Bursa Efek Indonesia
| Main Authors: | , Sang Ayu Putu PG, , Drs. Irfan Nursasmito, M.Si. |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2013
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/126852/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=67086 |
Daftar Isi:
- Generally, the investment cannot be separated from the macro factors such as non economic events. The performance of a company could be affected by this factors indirectly. And mostly, this factors are difficult to be predicted. Moreover, the non economic events also do not directly relate with the activities in the capital market. However it can be one of the considerations for the capital market to get any profits in the future. Furthermore the non economic events can be a trigger to the stock value in the capital market and trading volume. This study investigated about the investor reactions to the effect of the non economic events such as the rising of gas and oil prices on June 21st 2013 and announcement of the presidential election in USA on November 7th 2012. The reactions can be observed from the stock fluctuation in the capital market and the rate of trading volume. Event study method was used to do this investigation. The reference data used in this study were from the daily secondary data of daily stock returns, trading volume, IHSG, and listed shares. The results showed that the stocks in LQ-45 indexes were reacted negatively to the announcement of the rising of gas and oil prices on June 21st 2013. T-test indicated the average abnormal return were negative and significant, whereas the trading volume activity did not reveal any reactions. On the other hand, the announcement of the presidential election in USA on November 7th 2012 resulted positive trading volume significantly. However, this event did not indicate the average abnormal return. Hence, in this study, the average abnormal return and trading volume of the stocks in LQ-45 indexes were obviously reacted to the political events both in domestic and international.