Reaksi Pasar Atas Kesepakatan Investasi Bidang Infrastruktur dalam Pertemuan International Monetary Fund-World Bank 2018

Abstract

This study aims to examine the capital market reaction to the announcement of infrastructure investment agreements at the International Monetary Fund (IMF) - World Bank annual meeting 2018. Measurement of market reactions in this study uses Cumulative Abnormal Return (CAR). The sample used in this study are companies which engaged in LQ-45 Index on the Indonesia Stock Exchange (IDX) with 7 days observation period. The sampling method used is purposive sampling technique. The data analysis technique used is one sample t-test. Based on the results of the analysis it was found that there is a negative reaction to the announcement of an investment agreement on infrastructure in the 2018 IMF-World Bank annual meeting 2018. This research could be used as a consideration for investors to invest according to company’s external events.

Keywords: Market Reaction, Event Study, Abnormal Return, Company External Events