REAKSI PASAR MODAL TERHADAP KEMENANGAN IR. H. JOKO WIDODO PADA PEMILIHAN PRESIDEN DI INDONESIA TAHUN 2019

(Studi Pada Saham LQ 45 Tahun 2019)

Abstract

This research is an event study research that aims to find out how big the reaction of the Indonesian capital market
is to the victory of the Joko Widodo pair in the 2019 Presidential Election with the indicators used in the form of
abnormal returns and trading volume activity on the LQ45 index stock group. This study uses secondary data in the
form of daily data. stock prices, daily data on LQ45 index, daily data on trading volume, and daily data on the
volume of shares outstanding during the period of seven days before, one day during, and seven days after the event.
The day of the event was May 22, 2019. Sampling used a purposive sampling method. The type of data used is
quantitative data. The data collection technique in this research is by means of documentation. Testing the
hypothesis using the One-Sample t Test and Paired Sample t-Test. The results showed that there were significant
differences in the reaction between the average before and after the event. However, there is no significant
difference between the average abnormal returns before the event. Similar to the average abnormal return after the
event, there is a significant difference in the average trading volume before and after the event. There is a
significant difference in the average trading volume before and during the event. There is a significant difference in
the average trading volume after and during the event.