Puji Sucia Sukmaningrum, - and Muhammad Madyan, - and Achsania Hendratmi, - (2019) Reaksi Pasar Saham Yang Terdaftar Dalam Jakarta Islamic Index (JII) Terhadap Pengumuman Penetapan Gubernur DKI Jakarta Tahun 2017. Jurnal Ekonomi dan Bisnis Islam, 5 (1). pp. 1-14. ISSN p-ISSN: 2442-6563; e-ISSN: 2527-3027

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Abstract

The purpose of this research is to analyze the reaction of investors before and after the announcement of the determination of the Governor of DKI Jakarta in 2017 against abnormal return and trading volume of activity. These studies use quantitative methods of event study. Models are used to seeing an average abnormal return (AAR) is the market model using a period of 60 days, estimation and research period 10 days before and 10 days after the announcement. Average trading volume of activity (ATVA) was also used to see changes in the volume of trade in the period of the study. The sample of this research is 30 stocks listed on the Jakarta Islamic Index (JII). The results showed no significant difference against AAR and ATVA before and after the announcement. Investor it is possible already to react before the official announcement of the Election Commission (KPU). Investors could make predictions the election results of the Survey (quick count) or investors are still waiting for the policies that will be given by the Governor-elect is going to have an impact on the company.

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