DAMPAK PENGUMUMAN PENURUNAN HARGA BBM TERHADAP ABNORMAL RETURN PADA PERUSAHAAN YANG TERGABUNG DALAM IDX30

Abstrak

One of the information that greatly influences the Indonesian economy is the government's policy to reduce the price of fuel oil (BBM). This study aims to determine that the announcement of a reduction in fuel prices can create a significant Abnormal return before, during and after the announcement of a reduction in fuel prices on January 31, 2020. This research was conducted on companies that are included in the IDX30 using the census method to get a total sample of 15 companies. The event window period used is 11 days (five days before, the day, five days after) with the one sample t-test data analysis technique to test the significance of Abnormal returns before, during and after the event. Based on the results of the one sample t-test, it shows that there was no significant Abnormal return during the event period so that there was no market reaction around the announcement period of the reduction in fuel prices.

Keywords: Announcement of reduction in fuel prices, Abnormal returns, event study.