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COVID-19 DAN KINERJA SAHAM PERUSAHAAN INDONESIA: PENDEKATAN EVENT-STUDY

Wulan Budi Astuti, Atieq Amjadallah Alfie

Last modified: 2020-12-16

Abstract


Almost all sectors are affected by Corona Virus Disease 19 (COVID-19) including the capital market sector. During the pandemic, the Composite Stock Price Index (JCI) decreased to its lowest point in early April. This study aims to examine the effect of COVID-19 on the movement of company stock prices in Indonesia using an event study approach. Eight industries experienced significant declines in revenue and share prices during the COVID-19 period. The average cumulative abnormal return value of the eight industries is negative and significant, indicating a significant effect of COVID-19. The empirical findings of this study can be used as a reference for business people to prepare businesses for a similar pandemic.

 


Keywords


Covid-19, cumulative abnormal return, event study

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