Reaksi Pasar Terhadap Hasil Quick Count Pemilu Presiden Indonesia 2019

(Studi Pada Saham Indeks LQ-45)

Abstract

This study intends to investigate the market’s reaction to the news about publication of the 2019 Indonesian presidential election quick count result on shares included in the LQ-45 index. The market reaction was measured using abnormal returns which were calculated on an average or cumulative basis. A one-sample t-test was used as a statistical check instrument. The result indicates that from 11 days of the observation period which included 5 days before the publication to 5 days after the publication, market generally reacted negatively to the publication of the 2019 Indonesian presidential election quick count result on shares in LQ-45 index.