Muth'iya, Rahmika Syafira (2024) ANALISIS PENERBITAN FATWA MUI NOMOR 83 TAHUN 2023 SEBAGAI AKSI BELA PALESTINA TERHADAP REAKSI PASAR MODAL INDONESIA (Studi Peristiwa pada Sektor Consumer Non-Cyclicals yang Terdaftar di BEI). Undergraduate thesis, UPN Veteran Jawa Timur.
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Abstract
This study examines the Indonesian capital market's reaction to a global event of significant international concern, namely the Israel-Palestine conflict. The Boycott, Divestment, and Sanctions (BDS) movement has gained traction due to public sympathy, culminating in the issuance of Indonesian Council of Ulama (MUI) Fatwa Number 83. This research aims to empirically test and prove the occurrence of an event study regarding the capital market's reaction following the issuance of MUI Fatwa Number 83 in 2023 concerning the Law of Support for the Palestinian Struggle on November 8, 2023, measured by abnormal returns and trading volume. This study employs a quantitative comparative research design utilizing the event study method. Secondary data from Yahoo Finance and the Indonesia Stock Exchange, including stock prices, trading volumes, and outstanding shares, are utilized. The observation period covers 14 days before (t-14) and 14 days after (t+14) the event. Purposive sampling yielded a sample of 98 companies in the non-cyclical consumer sector. The statistical test employed is the Wilcoxon Signed Rank Test as an alternative test for differences. The results indicate a significant difference in abnormal returns before and after the issuance of MUI Fatwa Number 83 in 2023 in the non-cyclical consumer sector, suggesting that the event contained information influencing capital market participants in their investment decisions. However, there was no significant difference in trading volume activity before and after the event, indicating a response from market participants without a significant change in traded stock volumes. Keywords: Event Study, MUI Fatwa Number 83, Abnormal Return, Trading Volume Activity
| Item Type: | Thesis (Undergraduate) | ||||||||||||
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| Subjects: | H Social Sciences > HC Economics H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance. Corporation finance H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation |
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| Divisions: | Faculty of Economic > Departement of Accounting | ||||||||||||
| Depositing User: | Rahmika Syafira Muth'iya | ||||||||||||
| Date Deposited: | 22 Jul 2024 09:01 | ||||||||||||
| Last Modified: | 22 Jul 2024 09:01 | ||||||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/26964 |
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