Event Study Analysis of The Lock Down Tourism, Hospitality, Restaurant and Pharmaceuntical Sub-Sector in Indonesia
DOI:
https://doi.org/10.31316/ubmj.v3i2.6475Keywords:
Return, Trading Volume, Stock ExchangeAbstract
Purpose: This research aims to find out whether there are differences in stock
returns and stock trading volume before and after the announcement of the first
PSBB in Indonesia on March 31, 2020, in the tourism, hotel and restaurant subsector - the pharmaceutical sub-sector listed on the Indonesia Stock Exchange.
Methodology: The population in this study were all companies in the tourism,
hospitality and restaurant sub-sector - pharmaceutical sub-sector registered on
the IDX in 2020. The samples obtained from predetermined criteria were 14 for
the tourism, hotel and restaurant sub-sector and 9 for the pharmaceutical subsector. This research took place for 27 weeks (6 months) before and 27 weeks (6
months) after the PSBB announcement. This research is quantitative research
using secondary data. The data analysis method used is descriptive analysis,
normality test (Kolmogorov Smirnov), and difference test (Wilcoxon Sign Rank
Test).
Findings: The results of the weekly difference test of returns and stock trading
volume in these two sectors, on average, did not experience significant
differences
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