文章基本信息

标题：Islamic Capital Market Reaction on Presidential Election 2019 (Case Study of the Jakarta Islamic Index)
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作者：Syintia Dwi Utami ; Abdul Qoyum
期刊名称：Ihtifaz
印刷版ISSN：2622-4755
电子版ISSN：2622-4798
出版年度：2020
卷号：3
期号：2
页码：105-124
DOI：10.12928/ijiefb.v3i2.2638
语种：English
出版社：Universitas Ahmad Dahlan
摘要：Introduction to The Problem: General Election (GE) is one of the most important political issues which has an impact on the economic condition. Purpose/Objective Study: This research aims to reveal the effect of General Election 2019 on the capital market reaction. Specifcally, the study compares the impact of three events in the GE 2019, namely, The General Election 2019, the announcement of Elected President 2019, and Mahkamah Konstitusi (MK) decision. Design/Methodology/Approach: The samples of the study are the 30 frms listed in Jakarta Islamic Index. The study was employing Abnormal Return with t-test analysis. Findings: The study reveals that the publication of the elected-president has the most signifcant impact on the Islamic Capital Market compares to the two other events. While using Trading Volume Activity (TVA), all the three events of GE 2019 affects the TVA. This fnding suggests that for the Islamic capital market investor, the announcement of the elected president is seen as the most signifcant event that determines the whole of economic condition for the next fve years. Hence, for the policy-makers, they must focus on the date of the announcement by preparing such a policy to maintain the market condition. Paper Type: Research Article.
关键词：Abnormal Return;Event Study;General Election 2019;Jakarta Islamic Index;Trading Volume Activity