Market Reaction on the First Reshuffle of “Kabinet Kerja” at LQ 45
- 10.2991/icebef-18.2019.81How to use a DOI?
- kabinet reshuffle announcement; market reaction; LQ 45 index
The purpose of this study was to know the difference of average abnormal return at LQ 45 between before and after announcement reshuffle of “Kabinet Kerja”. This study used explanatory survey method. The total population of 45 companies. Daily data for 6 days’ observation each 3 days before announcement and 3 days after announcement covering closing stock price. Hypothesis testing was used paired sample t test. The results showed that there is no significant difference between average abnormal return before and after the announcement reshuffle of “Kabinet Kerja”. This indicates that the reshuffle announcement on “Kabinet Kerja” did not generate a market reaction because the reshuffle issue has been widely discussed by experts in their field on various media so investors have been able to predict before the reshuffle was announced.
- © 2019, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Soritaon Siregar AU - Nita Kanya PY - 2019/05 DA - 2019/05 TI - Market Reaction on the First Reshuffle of “Kabinet Kerja” at LQ 45 BT - Proceedings of the 1st International Conference on Economics, Business, Entrepreneurship, and Finance (ICEBEF 2018) PB - Atlantis Press SP - 361 EP - 365 SN - 2352-5428 UR - https://doi.org/10.2991/icebef-18.2019.81 DO - 10.2991/icebef-18.2019.81 ID - Siregar2019/05 ER -