Suryo Luhur_abstract_1422010

REAKSI PASAR MODAL INDONESIA SEPUTAR
PEMILIHAN UMUM 8 JULI 2009 PADA SAHAM LQ-45

Suryo Luhur
Jurusan Manajemen Fakultas Ekonomi UPN “Veteran” Yogyakarta
Jl. Lingkar Utara (SWK)  No. 104 Condong Catur, Sleman, Yogyakarta-55283

Korespondensi dengan Penulis:
Suryo Luhur: Telp. + 62 274  486 372
E-mail : karno_upn@yahoo.co.id

Abstract
This research used event study methodology to investigate the stock price reaction to domestic political events, Indonesian presidential and vice election on July 8th, 2009 on stock of LQ-45 category listed in BEI. Data analysis used one sample t-test and paired samples t-test. The result of the analysis revealed that abnormal returns were:  (1) not significantly different before and after presidential election announcement, (2) Significantly negative on day t-10, t-5, t-4, t0, and t+7 and significantly positive  on t-10 and t+7 3, (3)  Not Significantly different on day 0  Trading Volume Activity before and after presidential election announcement. This results reported here indicated that Indonesian Capital Market was little sensitive to political events.

Key words: event study, domestic political events, abnormal return, trading volume activity.

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