The Impact of the Announcement of First Covid-19 Case in Indonesia on Property and Real Estate Companies’ Stock Returns and Trading Volume
- DOI
- 10.2991/aebmr.k.210522.012How to use a DOI?
- Keywords
- COVID-19, stock returns, trading volume, property and real estate
- Abstract
COVID-19 pandemic is a great disaster that affects all aspects of human life. Inevitably, COVID-19 also has impacts on economic activities throughout the world, including investment activities. It also affects the investors’ behavior in Indonesia Stock Exchange (IDX). The changes in investors’ behavior can lead to abnormal returns and the shifting of the volume of stocks being traded. The COVID-19 pandemics make most property and land businesses in Indonesia experience dejections in their financial performance. Along these lines, this research expects to evaluate whether the COVID-19 pandemic fundamentally impacts the property and real estate sector in IDX in the matter of the stock return and trading volume movement. This reserach utilizes a quantitative method and event study using secondary data of price of stock and stock trading volume. The event of this research is the first COVID-19 case in Indonesia announcement. The window time of this research consists the 10 days prior to the announcement, the D-Day of the announcement, and the 10 days following the announcement (February 17-Walk 16, 2020). The outcomes of this research show that there is no significant difference in average abnormal return and there is a significant difference in average trading volume activity between prior to the first COVID-19 case in Indonesia announcement and following the announcement.
- Copyright
- © 2021, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Syane Rachma Dian AU - Astrie Krisnawati PY - 2021 DA - 2021/05/25 TI - The Impact of the Announcement of First Covid-19 Case in Indonesia on Property and Real Estate Companies’ Stock Returns and Trading Volume BT - Proceedings of the International Conference on Business and Engineering Management (ICONBEM 2021) PB - Atlantis Press SP - 84 EP - 92 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.210522.012 DO - 10.2991/aebmr.k.210522.012 ID - Dian2021 ER -