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All Journal Jurnal Akuntansi Keuangan dan Bisnis
Jescynia Marchella Lahengke
Universitas BorneoTarakan
Economics, Econometrics & Finance Social Sciences

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STUDI EFISIENSI PASAR MODAL INDONESIA BENTUK SETENGAH KUAT PADA MASA PANDEMI COVID-19 (Perusahaan Transportasi Di Bursa Efek Indonesia Tahun 2019-2020) Muhammad Tharmizi Junaid Tharmizi; Muh. Irfandy Azis; Ahmad Juliana; Jescynia Marchella Lahengke; Aan Digita Malik
Jurnal Akuntansi Keuangan dan Bisnis Vol 14 No 2 (2021): Jurnal AKuntansi Keuangan dan Bisnis
Publisher : Politeknik Caltex Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (376.371 KB) | DOI: 10.35143/jakb.v14i2.4786

Abstract

This research aims to determine how the transportation industry in Indonesia fared during the COVID-19 pandemic. Is this segment of the Indonesian capital market semi-efficient during the COVID-19 pandemic? In order to measure the sample size, Purposive Sampling and Market Adjusted Model approaches are used. The data used is abnormal return data for all IATA-listed transportation providers there are 35 firms that will be evaluated on the Indonesia Stock Exchange in the 2019-2020 term. The Abnormal Return, Market Reaction Speed, Normality Test, and Independent Different Test were used to examine the data (Independent Sample T-Test). The findings of this research show that transportation companies listed on the Indonesia Stock Exchange are semi-strongly efficient. Prices were altered by the news of the COVID-19 pandemic with atypical returns that did not last long, allowing the market to achieve a new price equilibrium point. There were also considerable discrepancies in the results of the several abnormal return tests before and after the COVID-19 pandemic. Keywords: efficient market hypothesis, semi-strong, event study, abnormal return
Co-Authors Ahmad Juliana Malik, Aan Digita Muh. Irfandy Azis Muhammad Tharmizi Junaid