Jurnal Dinamika Akuntansi dan Bisnis (JDAB)
Vol 8, No 1 (2021): March 2021

The COVID-19 Outbreak and Stock Market Return: Evidence from Indonesia

Nurcahyono, Nurcahyono (Unknown)
Hanum, Ayu Noviani (Unknown)
Sukesti, Fatmasari (Unknown)

Article Info

Publish Date
30 Mar 2021

Abstract

This study investigates the impact of Coronavirus disease 2019 (COVID-19) outbreak on stock market returns in Indonesia stock exchange. Number of positive cases, mortality, recovery, and capital market data were collected for 136 days since the first case was announced in Indonesia (2 March 2020). Panel data regression was employed to test the research hypothesis. The results show that COVID-19 has a negative impact on Indonesian stock market returns. The growth of positive case and deaths decreased the market returns. Meanwhile, the increase of recovered cases is a positive signal for the capital market but it has not contributed to the rise of stock prices and market returns.

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Journal Info
Jurnal Dinamika Akuntansi dan Bisnis (JDAB)
Website

Abbrev

JDAB

Publisher

Universitas Syiah Kuala

Subject

Economics, Econometrics & Finance Social Sciences

Description

Jurnal Dinamika Akuntansi dan Bisnis (JDAB) is a biannual peer-reviewed and open-access journal published by Accounting Department, Universitas Syiah Kuala, Indonesia, in collaboration with the Institute of Indonesia Chartered Accountant. JDAB was first published in March 2014 and made accessible ...