Market Reactions to Emergency Community Activity Restrictions Policy
نویسندگان
چکیده

 This research uses the event study method to test reaction of capital markets before and after announcement Emergency Community Activity Restrictions (PPKM) policy. The observation period includes 7 days event. By using purposive sampling method, sample amounts 29 stocks hotel, restaurant, tourism companies listed on Indonesia Stock Exchange. hypothesis is tested with Paired Samples T-Test for those normal distribution Wilcoxon Signed Ranks Test no distribution. results showed that there was a difference in average trading volume activity. While abnormal return security variability did not have significant differences around announcement. implies stock investors need consider information about government policies or other non-economic events appropriately sort out relevant sell maintain under risks returns expected by investors.
 Keywords: Abnormal Return, Trading Volume Activity, Security Return Variability, PPKM Policy, Event Study
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ژورنال
عنوان ژورنال: Al-Kharaj : Jurnal Ekonomi, Keuangan dan Bisnis Syariah
سال: 2022
ISSN: ['2656-2871', '2656-4351']
DOI: https://doi.org/10.47467/alkharaj.v5i4.1829