Research Article
Comparison of Abnormal Returns Before and After The 18th Asian Games in Indonesia (Event study of companies included in the LQ-45 Stock Index)
@INPROCEEDINGS{10.4108/eai.21-10-2019.2294439, author={Sonja Andarini and Rusdi Hidayat Nugroho and Nurul Aqidatul Izzah and Franky Nasution}, title={Comparison of Abnormal Returns Before and After The 18th Asian Games in Indonesia (Event study of companies included in the LQ-45 Stock Index)}, proceedings={Proceedings of the 4th International Conference on Indonesian Social and Political Enquiries, ICISPE 2019, 21-22 October 2019, Semarang, Central Java, Indonesia}, publisher={EAI}, proceedings_a={ICISPE}, year={2020}, month={4}, keywords={event study abnormal return asian games lq-45 stock index}, doi={10.4108/eai.21-10-2019.2294439} }- Sonja Andarini
Rusdi Hidayat Nugroho
Nurul Aqidatul Izzah
Franky Nasution
Year: 2020
Comparison of Abnormal Returns Before and After The 18th Asian Games in Indonesia (Event study of companies included in the LQ-45 Stock Index)
ICISPE
EAI
DOI: 10.4108/eai.21-10-2019.2294439
Abstract
The Asian Games is a four-year sports competition participated by athletes from countries in Asia and competed in various types of sports. This study aims to determine and analyze differences in abnormal returns before and after the 18th Asian Games in Indonesia for companies included in the LQ-45 Stock Index. The population in this study are companies included in the LQ-45 Stock Index for the February 2018-January 2019 period. The sampling technique used purposive sampling and 40 companies were used as research samples. The form of research is the event study, in which the event window consists of 5 days before and after the Asian Games in Indonesia. Hypothesis testing uses paired sample t-test. The results showed that there were differences in abnormal returns before and after the Asian Games in Indonesia, but the effect was not significant. In the period before the Asian Games in Indonesia, the highest percentage of average abnormal returns occurred in the Agriculture stock sector and the lowest in the Mining stock sector. Whereas in the period after the Asian Games in Indonesia, the highest percentage of average abnormal return occurred in the Miscellaneous Industry stock sector and the lowest in the Mining stock sector.