The Indonesian Capital Market's Response to the 2024 Simultaneous Elections
DOI:
https://doi.org/10.24843/EJA.2024.v34.i12.p02Keywords:
Signal theory, Information content, Event Study, Abnormal returns, General electionsAbstract
This study aims to examine the reaction of the Indonesian capital
market to the 2024 simultaneous general elections. The analysis
is based on a sample of 764 companies, with key measurements
including abnormal return and cumulative abnormal return. The
methodologies employed consist of descriptive statistical tests,
one-sample t-tests, and paired t-tests. The results from the first
hypothesis test reveal a significant abnormal return on the first
and third days following the 2024 simultaneous elections.
Additionally, the second hypothesis shows a significant
difference in cumulative abnormal returns before and after the
elections. These findings suggest that the 2024 general elections
provided market-relevant information, leading to a measurable
reaction in the Indonesian capital market
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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
