HOW HAS THE INDONESIAN STOCK MARKET PERFORMED DURING COVID-19 OUTBREAKS?

Doddy, Setiawan and Taufiq, Arifin and Y Anni, Aryani and Yau, Josephine, Tan Hwang (2021) HOW HAS THE INDONESIAN STOCK MARKET PERFORMED DURING COVID-19 OUTBREAKS? International Journal of Business and Society, 22 (3). pp. 1420-1428. ISSN 1511-6670

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Abstract

This paper analyzes the stock market reaction towards the Covid-19 pandemic by using a sample of Indonesian listed firms. In general, we document a significant negative cumulative abnormal returns when the Indonesian President announces the first case of Covid-19 in Indonesia. This effect remains ten days (weaker) after the announcement. However, we only find a short-term effect on the finance industry. While the explanation is still unclear, the investors may observe that the economic impact on the finance industry may arise in the long-run.

Item Type:	Article
Additional Information:	COVID-19
Uncontrolled Keywords:	covid-19, economic impact, market reaction, abnormal return
Subjects:	H Social Sciences > HG Finance
Divisions:	Academic Faculties, Institutes and Centres > Faculty of Economics and Business Faculties, Institutes, Centres > Faculty of Economics and Business
Depositing User:	Tan Hwang
Date Deposited:	14 Dec 2021 04:28
Last Modified:	01 Mar 2022 03:00
URI:	http://ir.unimas.my/id/eprint/37148

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