Proceedings of the 1st International Conference on Economics and Business, ICEB 2023, 2-3 August 2023, Padang, Sumatera Barat, Indonesia

Research Article

Analyzing Stock Market Reaction: The Impact of Crude Palm Oil (CPO) Export Ban in the Plantation Sub-Sector

Download34 downloads
  • @INPROCEEDINGS{10.4108/eai.2-8-2023.2340640,
        author={Annisa  Abdullah and Dedi  Hariyanto and Heni  Safitri},
        title={Analyzing Stock Market Reaction: The Impact of Crude Palm Oil (CPO) Export Ban in the Plantation Sub-Sector},
        proceedings={Proceedings of the 1st International Conference on Economics and Business, ICEB 2023, 2-3 August 2023, Padang, Sumatera Barat, Indonesia},
        publisher={EAI},
        proceedings_a={ICEB},
        year={2024},
        month={6},
        keywords={crude palm oil event study stock market reaction abnormal return trading volume activity},
        doi={10.4108/eai.2-8-2023.2340640}
    }
    
  • Annisa Abdullah
    Dedi Hariyanto
    Heni Safitri
    Year: 2024
    Analyzing Stock Market Reaction: The Impact of Crude Palm Oil (CPO) Export Ban in the Plantation Sub-Sector
    ICEB
    EAI
    DOI: 10.4108/eai.2-8-2023.2340640
Annisa Abdullah1, Dedi Hariyanto1,*, Heni Safitri1
  • 1: Universitas Muhammadiyah Pontianak
*Contact email: dedi.hariyanto@unmuhpnk.ac.id

Abstract

Ban on Crude Palm Oil (CPO) exports caused a decline in the movement of the Composite Stock Price Index (CSPI). The purpose of this research is to test and analyze the stock market's reaction before and after the ban. The research was conducted on companies listed in the Plantation Sub-Sector of the Indonesia Stock Exchange (IDX). The observation period for this study is 10 days before and after the CPO export ban event. The research used purposive sampling, with 22 samples that meet the research criteria. The analysis method used in this research is the Wilcoxon Sign Rank Test. Based on the analysis results, it is shown that there is a significant difference in abnormal return and no significant difference in trading volume activity. This indicates that the stock market reacts to stock prices but does not react to trading volume before and after the CPO export ban event.