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

[img] PDF
Josephine Tan-Hwang Yau.pdf

Download (216kB)
Official URL: http://www.ijbs.unimas.my/

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
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

Actions (For repository members only: login required)

View Item View Item