HOW HAS THE INDONESIAN STOCK MARKET PERFORMED DURING COVID-19 OUTBREAKS?
This paper analyzes the stock market reaction towards the Covid-19 pandemic by using a sample of Indonesian listed firms. In general, we document a significant negative cumulative abnormal returns when the Indonesian President announces the first case of Covid-19 in Indonesia. This effect remains te...
Saved in:
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
UNIMAS Publisher
2021
|
| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/37148/1/Josephine%20Tan-Hwang%20Yau.pdf http://ir.unimas.my/id/eprint/37148/ http://www.ijbs.unimas.my/ |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Universiti Malaysia Sarawak |
| Language: | English |
| Summary: | This paper analyzes the stock market reaction towards the Covid-19 pandemic by using a sample of Indonesian listed firms. In general, we document a significant negative cumulative abnormal returns when the Indonesian President announces the first case of Covid-19 in Indonesia. This effect remains ten days (weaker) after the announcement. However, we only find a short-term effect on the finance industry. While the explanation is still unclear, the investors may observe that the economic impact on the finance industry may arise in the long-run. |
|---|