Main Article Content
Abstract
Abstract: Examining the Market Reaction to the Announcement of the Release of MUI Fatwa No. 83 Year 2023
Purpose: Revealing the market reaction that has an impact on the stimulus in the form of MUI's fatwa on the appeal not to use Israeli-affiliated products released in November 2023.
Method: Quantitative method of case study approach. Using statistical analysis of 14 samples of companies listed on the IDX. Data obtained from the IDX and Yahoo Finance pages.
Results: Shows that there is no AR and no significant difference during the event period studied. TVA shows significant statistical analysis results.
Novelty: The current issue raised, which is related to the announcement of MUI fatwa no. 83 of 2023 concerning the appeal not to use products affiliated with Israel.
Contribution: Expand the literature of market reaction studies with the latest relevant issues.nouncement of MUI fatwa no. 83 of 2023 concerning the appeal not to use products affiliated with Israel.
Abstrak: Menilik Reaksi Pasar Terhadap Pengumuman Rilis Fatwa MUI No. 83 Tahun 2023
Tujuan: Mengungkap reaksi pasar yang berdampak pada stimulus berupa penerbitan fatwa oleh MUI tentang imbauan menghindari produk terafiliasi Israel pada November 2023.
Metode: Metode kuantitatif pendekatan studi kasus menggunakan analisis statistik terhadap 14 sampel perusahaan yang diperoleh dari laman BEI dan Yahoo Finance.
Hasil: Mengungkapkan tidak adanya AR serta tidak ada signifikansi perbedaan selama Jendela Peristiwa yang diobservasi. TVA menunjukkan hasil analisis statistik yang signifikan.
Kebaruan: terletak pada isu yang diangkat saat ini, yaitu terkait dengan pengumuman fatwa MUI no. 83 tahun 2023 tentang himbauan untuk tidak menggunakan produk yang berafiliasi dengan Israel.
Kontribusi: Memperluas literatur kajian reaksi pasar dengan isu terbaru yang relevan.
Keywords
Article Details
Copyright (c) 2024 Zakir Gunibala, Andini Renuat, Sukmawati Indah Dzikriah
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
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References
Hasudungan A, Bhinekawati R. The effects of CSR disclosure on asymmetric information and RoI of publicly listed companies in SRI-Kehati index in Indonesia. Corporate Governance (Bingley). 2022 Oct 12;22(7):1587–604.
Gim J, Jang SC (Shawn). Dividend and investment decisions in asymmetric information environments: evidence from the restaurant industry. International Journal of Contemporary Hospitality Management. 2023 Apr 10;35(5):1779–801.
Poretti C, Schatt A, Bruynseels L. Audit committees’ independence and the information content of earnings announcements in Western Europe. Journal of Accounting Literature. 2018 Jun 1;40:29–53.
Kiattikulwattana P, Pattanapanyasat RP. Market reactions to timing and information of mandatory disclosures. Journal of Accounting in Emerging Economies. 2023;
Simões Vieira E. Investor sentiment and the market reaction to dividend news: European evidence. Managerial Finance. 2011 Oct 18;37(12):1213–45.
Huka CKY, Kelen LHS. Dampak Invasi Rusia Ke Ukraina Terhadap Average Abnormal Return Perusahaan Industri Energi Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Riset Ekonomi. 2022;2(1):73–82.
Machfudi M, Isynuwardhana D. Analisis Reaksi Pasar Modal terhadap Peristiwa Perang Rusia dan Ukraina (Studi Kasus pada Saham Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia) Analysis of Capital Market Reaction to the Events of the Russia and Ukraine War (Case Study on Shares of Energy Sector Companies Listed on the Indonesia Stock Exchange). Vol. 10, Agustus. 2023.
Abbas NA, Kelen LHS. Menakar Perbedaan Kurs Rupiah Terhadap Dolar Amerika Serikat dan Australia Sebelum dan Setelah PSBB WNA Nur Asmy Abbas (1) Lusianus Heronimus Sinyo Kelen (2). Jurnal Manajemen Bisnis [Internet]. 2021;18(4):406–21. Available from: http://journal.undiknas.ac.id/index.php/magister-manajemen/406
Tambunan RMD, Kennedy PSJ. Apakah Ada Perbedaan Risiko Dan Return Saham Sebelum Dan Selama Perang Rusia-Ukraina? Studi Kasus Di BEI2019-2022 [Internet]. 2023. Available from: www.bi.go.id.
Firli A, Rahadian D. Analysis Of The Impact Of Terrorist Bombing Acts On Abnormal Return And Trading Volume Activity: Study Of Terrorist Bombings Worldwide (2008–2017). International Symposia in Economic Theory and Econometrics. 2020;27:13–26.
Jogiyanto H. Teori Portofolio dan Analisis Investasi. 11th ed. BPFE-Yogyakarta; 2017.
Maharani S, Takarini N. Analysis Of The Differences In Abnormal Stock Return And Trading Volume Activity Before And After Stock Split In Companies Listed On The Idx. Journal of Economic, Business and Accounting. 2022;6(1):1067–76.
Priyambodo MG, Yunita I. Analisis Reaksi Pasar Modal terhadap Peristiwa Perang Rusia dan Ukraina. SEIKO : Journal of Management & Business. 2023;6(1):605–14.
Kudus MI, Sutrisno. Perbedaan Abnormal Return Dan Trading Volume Activity Atas Peristiwa Peledakan Bom Pada Tiga Gereja Di Surabaya. Jurnal Ilmiah Mahasiswa FEB Universitas Brawijaya. 2019;7(2).
Nawangsari FY, Iswajuni I. The effects of auditor switching towards abnormal return in manufacturing company. Asian Journal of Accounting Research. 2019 Aug 5;4(1):157–68.
Senteney DL, Gao GH, Bazaz MS. Impact of ADR forms 20-F reconciliation on trading volume. International Journal of Accounting and Information Management. 2015 Aug 3;23(3):253–70.
Kasanah AR, Mariana. Pengaruh Pemilihan Presiden Indonesia 2019 Terhadap Abnormal Return Dan Trading Volume Activity Saham Indeks LQ45 di Bursa Efek Indonesia. Jurnal Akuntansi Unesa. 2022;10(3):34–42.
Nyakurukwa K, Seetharam Y. Alternatives to the efficient market hypothesis: an overview. Journal of Capital Markets Studies. 2023 Oct 20;
Tandelilin E. Pasar Modal: Manajemen Portofolio & Investasi. PT Kanisius; 2017.
Kirmani A, Rao AR. No Pain, No Gain: A Critical Review of the Literature on Signaling Unobservable Product Quality. J Mark. 2000;64:66–79.
Yasar B, Martin T, Kiessling T. An empirical test of signalling theory. Management Research Review. 2020 Nov 13;43(11):1309–35.
Bodie Z, KA, & dan MAJ. Investment and Portfolio Management (Global Edition). Salemba Empat; 2014.
Husnan S. Dasar-Dasar Teori Portofolio & Analisis Investasi . 5th ed. UPP STIM YKPN Yogyakarta ; 2015.
Sugiyono. Metode Penelitian Kuantitatif Kuantitatif Dan R & D. 2018.