The Stock Reactions of Energy Sector Stocks in the Sharia Stock Market to the Implementation of the 2022 Jakarta E-Prix Event
DOI:
https://doi.org/10.556442/eabmij.v6i1.545Keywords:
Jakarta E-Prix, Event Study, and Trading Volume Activity and Abnormal ReturnAbstract
This study is conducted to assess how energy sector stocks within the Islamic stock market react to the Jakarta E-Prix 2022 event. It employs a quantitative approach utilizing the event study method to evaluate the market's response to this event. Market reactions are assessed using abnormal returns (AR) and trading volume activity (TVA) variables. The study focuses on stocks from the energy sector listed in the Jakarta Islamic Index. The Wilcoxon test is applied to the AR and TVA data. The findings indicate significant variations in abnormal returns before and after the Formula E Jakarta 2022 event. Conversely, there were no notable differences in trading volume activity before and after the Formula E Jakarta 2022 event.
References
Abdillah, Ichwan, and Puji Sucia Sukmaningrum. 2020. “Reaksi Pasar Modal Syariah Terhadap Pengumuman Defisit Neraca Perdagangan.” Jurnal Ekonomi Syariah Teori dan Terapan 7(9): 1646.
Ainurrachma, Mirna, and Imron Mawardi. 2022. “Reaksi Pasar Saham Terhadap Merger Bank Syariah Milik Negara.” Jurnal Ekonomi Syariah Teori dan Terapan 9(1): 92–105. https://e-journal.unair.ac.id/JESTT/article/view/27504 (October 5, 2022).
Alexander, Alexander, and M. Amin Kadafi. 2018. “Analisis Abnormal Return Dan Trading Volume Activity Sebelum Dan Sesudah Stock Split Pada Perusahaan Yang Terdaftar Di Bursa Efek Indonesia.” Jurnal Manajemen 10(1): 1–6. https://journal.feb.unmul.ac.id/index.php/JURNALMANAJEMEN/article/view/3803 (December 19, 2022).
Anita, Nur, Chandra Putri, and Andika Martin. 2021. “Event Study : Reaksi Pasar Modal Sebelum Dan Sesudah Adanya Covid-19 (Studi Pada Perusahaan Non-Perbankan Yang Terdaftar Di BEI Sebagai Anggota LQ45).” AKURAT | Jurnal Ilmiah Akuntansi FE UNIBBA 12(3): 64–73. https://unibba.ac.id/ejournal/index.php/akurat/article/view/672 (October 5, 2022).
Ayu Devi Nurmalasari, Shinta et al. 2015. “Analisis Pengaruh Perubahan Arus Kas Terhadap Return Saham.” Management Analysis Journal 4(4). https://journal.unnes.ac.id/sju/index.php/maj/article/view/8881 (October 5, 2022).
Aziz, Mochammad et al. 2020. “Studi Analisis Perkembangan Teknologi Dan Dukungan Pemerintah Indonesia Terkait Mobil Listrik.” TESLA: Jurnal Teknik Elektro 22(1): 45–55. https://journal.untar.ac.id/index.php/tesla/article/view/7898 (October 5, 2022).
Bergh, Donald D., Brian L. Connelly, David J. Ketchen, and Lu M. Shannon. 2014. “Signalling Theory and Equilibrium in Strategic Management Research: An Assessment and a Research Agenda.” Journal of Management Studies 51(8): 1334–60. https://ideas.repec.org/a/bla/jomstd/v51y2014i8p1334-1360.html (October 5, 2022).
Brigham, and Houston. 2011. Dasar-Dasar Manajemen Keuangan. Edisi 11. Jakarta.: Salemba Empat.
Faizal Hafidz, Maulana, and Universitas Negeri Surabaya. 2020. “Analisis Komparatif Abnormal Return Dan Trading Volume Activity Berdasarkan Political Event (Event Study Pada Pengesahan RUU KPK 2019).” Jurnal Ilmu Manajemen 8(3): 829–38. https://journal.unesa.ac.id/index.php/jim/article/view/8694 (October 5, 2022).
Hirmawan, Andri. 2020. “Analisis Perbandingan Abnormal Return Dan Trading Volume Activity Sebelum Dan Sesudah Stock Split Periode 2015-2016.” AKSES: Jurnal Ekonomi dan Bisnis 13(2). https://publikasiilmiah.unwahas.ac.id/index.php/AKSES/article/view/3240 (December 19, 2022).
Komang Diantriasih, Ni et al. 2019. “Analisis Komparatif Abnormal Return, Security Return Variability Dan Trading Volume Activity Sebelum Dan Setelah Pilkada Serentak Tahun 2018.” JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha 10(1): 2614–1930. https://ejournal.undiksha.ac.id/index.php/S1ak/article/view/20529 (December 19, 2022).
Lakoni, Idham, and Melvi Yansi. 2019. “Reaksi Pasar Modal Syariah Dan Konvensional Terhadap Event Politik Di Bursa Efek Indonesia.” Creative Research Management Journal 2(2): 41–55. https://journals.unihaz.ac.id/index.php/crmj/article/view/1112 (October 5, 2022).
Mardani. 2015. Aspek Hukum Dan Lembaga Keuangan Syariah Di Indonesia. Edisi Pert. Jakarta.: Kencana.
Marganing Sih, Tias, Tatang Ary Gumanti, and Hadi Paramu Jurusan Manajemen. 2019. “Analisis Perbedaan Abnormal Return Dan Trading Volume Activity Pada Sekitar Cum Dividend Date.” e-Journal Ekonomi Bisnis dan Akuntansi 6(2): 159–63. https://jurnal.unej.ac.id/index.php/e-JEBAUJ/article/view/11161 (December 19, 2022).
Mohd Razali, Nornadiah, and Yap Bee Wah. 2011. “Power Comparisons of Shapiro-Wilk, Kolmogorov-Smirnov, Lilliefors and Anderson-Darling Tests.” Journal of Statistical Modeling and Analytics 2: 21–33.
Paramartha, Gede, and Daisuke Matsuzawa. 2020. “Perbedaan Reaksi Pasar Terhadap Pelantikan Presiden Dan Wakil Presiden Negara Indonesia Tahun 2019.” E-Jurnal Akuntansi 30(10): 2514–24. https://ojs.unud.ac.id/index.php/akuntansi/article/view/57772 (October 5, 2022).
Sambuari, Inri B., Ivonne S. Saerang, and Joubert B. Maramis. 2020. “Reaksi Pasar Modal Terhadap Peristiwa Virus Corona (Covid-19) Pada Perusahaan Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia.” JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). 7(2): 407–15. https://ejournal.unsrat.ac.id/index.php/jmbi/article/view/30668 (October 5, 2022).
Samsul. 2006. Pasar Modal Dan Manajemen Portofolio. Cetakan Pe. Jakarta: Erlangga.
Tempo.Com, Sport. “Jadwal Siaran Langsung Formula E Jakarta Dan Klasemen Pembalap - Sport Tempo.Co.” Sport.tempo.co. https://sport.tempo.co/read/1597857/jadwal-siaran-langsung-formula-e-jakarta-dan-klasemen-pembalap (October 5, 2022).
