Investor Behavior Responding to Changes in Trading Halt Conditions: Empirical Evidence from the Indonesia Stock Exchange

• 발행기관: 한국유통과학회
• 저자명: Rida RAHIM Desyetti SULAIMAN Tafdil HUSNI Nadya Ade WIRANDA
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.4, 135~143쪽, 전체 9쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2021.04.30

영문 초록

Information has an essential role in decision-making for investors who will invest in financial markets, especially regarding the policies on the condition of COVID-19. The purpose of this study is to determine the market reaction to the information published by the government regarding the policy changes to the provisions of Trading Halt on the IDX in an emergency using the event study method. The population in this study was companies listed on the Indonesia Stock Exchange in March 2020; the sample selection technique was purposive sampling. Data analysis used a normality test and one sample T-test. The results of the study found that there were significant abnormal returns on the announcement date, negative abnormal returns around the announcement date, and significant trading volume activity occurring three days after the announcement. The existence of a significant positive abnormal return on the announcement date indicates that the market responds quickly to information published by the government. The practical implication of this research can be taken into consideration for investors in making investment decisions to analyze and determine the right investment options so that investors can minimize the risk of their investment and maximize the profits they want to achieve.

목차

1. Introduction

2. Literature Review

3. Research Methods and Materials

4. Results and Discussion

5. Conclusion

키워드

Abnormal Return Trading Volume Activity Trading Halt