학술논문
The Relationships between Abnormal Return, Trading Volume Activity and Trading Frequency Activity during the COVID-19 in Indonesia
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- 영문명
- 발행기관
- 한국유통과학회
- 저자명
- Enrico Fernanda SAPUTRA G Nur Aisyah Febrianti PULUNGAN Bambang SUBIYANTO
- 간행물 정보
- 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.2, 737~745쪽, 전체 9쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2021.02.28
무료
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국문 초록
영문 초록
This study aims to determine whether there are differences in the average abnormal return, trading volume activity, and trading frequency activity in pharmaceutical stocks before and after the announcement of the first case of the coronavirus (COVID-19) in Indonesia. The sample was selected using a purposive sampling method and collected as many as nine pharmaceutical companies listed on the Indonesia Stock Exchange during 2019–2020. The data used in this study were secondary data in the form of daily data on stock closing prices, Composite Stock Price Index (IHSG), stock volume trading, number of shares outstanding, and stock trading frequency. This study was an event study with an observation period of 14 days, namely seven days before and seven days after the announcement of the coronavirus’s first positive case in Indonesia. Hypothesis testing employed the paired sample t-test method. Based on the results, it was found that there was no difference in the average abnormal return of pharmaceutical stocks before and after the announcement of the first case of COVID-19. However, there was a difference in the average trading volume activity and the average trading frequency activity in pharmaceutical stocks before and after the announcement of the first case of COVID-19.
목차
1. Introduction
2. Literature Review and Hypothesis Development
3. Research Methods
4. Results
5. Discussion
6. Conclusion
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