摘要：This study aims to determine whether there is a difference in the amount of the return, abnormal return, and trading volume activity between before and after Idul Fitri. The study population is all companies listed in Indonesia Stock Exchange in the period of 2005-2007. The sample was gained by using purposive sampling method with the criteria in the form of food and beverage company’s shares actively traded during the period 0f2005-2007. The analytical techniques used are different test paired sample t-test with a significance of 0.05. The results showed that there is no difference between the period of estimation return with window period. There are differences that indicated abnormal return during the period compared to the estimated window period. There were no differences in trading volume activity during the period of estimation window period. Return during the period before and after the feast day showed no difference. There was no difference in abnormal return and trading volume of activity for the period before and after the holiday of Idul Fitri. The result of the study suggest that companies should consider social characteristics and market psychology in making decision not merely based on sertain events.
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