Reaksi Pasar Terhadap Kenaikan Harga Bahan Bakar Minyak (BBM) Tanggal 24 Februari 2018 ( Studi Kasus Perusahaan Indeks LQ45)

Abstract

ABSTRACT
This research aims at analyzing market reaction to the fuel price hike (BBM)
dated February 24th 2018 on LQ45 index company which is listed in Indonesia stock
exchange (BEI). This reseach use secondary data for the data collection. The method
of sampling uses sampling saturation. The company us as sample object ws company
listed on the LQ45 in Stock Exchange Indonesia (BEI) for the period of February to
July 2018.
The selection fm the sample of companies was based on the companies
included in LQ45 index that already fulfilled criteria in this case there are 45
companies that become the sample of this study. The research method use is the
method Event Study, with 100 days estimation period and 11 days windows period.
The test was using the data normality test tool Kolmogorov Smirnov and the deffernt
test equipment Paired sample-test.
Based on data analysis the fuel price hike (BBM) dated February 24th 2018
did not cause any significant abnormal return at the time of event as well as on
research defference of mean of abnormal return and trading volume activity on the
day before and after the result that there is no significant market reaction. This mean
the fuel hike price hike (BBM) dated February 24th, 2018 is something that does not
have too much positive influence on the Indonesian stock market.
Keyword: Stock Market, Event Study,Abnormal Return, Trading Volume Activity

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