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This study aims to analyze the capital market reaction to the groundbreaking event of the new capital city (IKN) on the stock prices of property and construction sector companies listed on the Indonesia Stock Exchange (IDX). This research employs a quantitative approach using the event study method with an observation period of 11 days, consisting of 5 days before (t-5), the event day (t), and 5 days after (t+5) the event. The sample includes property and construction sector companies that were actively traded during the observation period. Data analysis was conducted using the Paired Sample t-test through SPSS to examine differences in Abnormal Return (AR), Cumulative Abnormal Return (CAR), and Trading Volume Activity (TVA) before and after the event. The results show that there is no significant difference in AR and TVA, but there is a significant difference in CAR, indicating that the market reacted cumulatively to the groundbreaking IKN information. These findings support the semi-strong form of market efficiency theory, suggesting that the market requires time to fully reflect information into stock prices.

This study examines the stock market reaction to the Christmas and New Year holidays by analyzing abnormal return and trading volume activity for companies consistently listed in the LQ45 Index during 2021–2023. Using a quantitative causal approach and an event study design, the research observes market behavior within a 10 day estimation window and a 10 8day event window surrounding the holiday period. The findings show that abnormal return exhibits limited but notable reactions, with a significant decline observed before the holiday, indicating that investors tend to reduce risk exposure prior to market closure. After the holiday, significant movements still appear, but they remain negative, suggesting that investor activity and confidence have not fully recovered. In contrast, trading volume activity does not show significant differences either before or after the holiday, implying that changes in prices are influenced more by sentiment and price adjustments rather than shifts in trading intensity. These results indicate that the Indonesian capital market demonstrates characteristics of a semi-strong form efficiency, where public information such as national holidays is largely anticipated and absorbed by the market.

This study analyzes the effect of operating costs, production costs, and sales volume on net profit in pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) for the period 2021-2024. Using a quantitative method with panel data regression analysis, this study took a sample of 11 companies and secondary data from financial reports. The results of the hypothesis test show that operating costs, production costs, and sales volume partially have a positive and significant effect on net profit. These findings are consistent with existing literature and indicate that efficient cost management and increased sales volume are crucial factors in maximizing profitability in the pharmaceutical sector. Furthermore, this research is also relevant to Agency Theory, which suggests that management, as agents, must manage costs and sales transparently to align their interests with those of shareholders, ultimately leading to the sustainable increase of company value. This study contributes to understanding key factors driving financial performance in the industry.

Research on stock splits has been widely conducted in Indonesia and internationally, as stock splits are considered an important corporate action that can influence investor perception and stock performance. However, the motivations and consequences of stock splits remain diverse, ranging from efforts to increase stock liquidity, adjust market price ranges, attract new investors, or signal positive corporate prospects. This study aims to empirically reanalyze the effect of stock splits on trading volume and stock prices of companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. Specifically, the research investigates whether significant differences exist between trading activities and stock price levels before and after the stock split event. The data used in this study are historical in nature, consisting of stock split announcements, daily trading volume, and stock price movements surrounding the event period. To test the hypotheses, this research employs both the paired-sample t-test and the Wilcoxon signed-rank test as statistical tools. These tests are appropriate because they allow for the comparison of two related samples, namely the stock performance indicators before and after the split. The selection between the two methods depends on the distribution of the data, where the paired t-test is used if the data is normally distributed, while the Wilcoxon test is applied if the normality assumption is not met. This study is categorized as moderate TKT (Technology Readiness Level 4–6) because it uses secondary historical data and focuses on empirical statistical analysis rather than experimental or simulation-based approaches. By examining stock split events within the specified period, this research contributes to the understanding of whether stock splits in Indonesia are primarily cosmetic in nature or if they generate real economic impacts on liquidity and stock valuation. The findings are expected to provide useful insights for investors, market analysts, and policymakers in assessing the relevance and effectiveness of stock splits as a corporate strategy.

This study aims to determine the effect of pricing, sales promotions, and stock availability on sales volume at H&G Collection. In an era of increasingly fierce business competition, companies need to manage marketing strategies effectively to maintain and increase sales. Appropriate pricing can influence product appeal to consumers, planned sales promotions can increase purchasing interest, while maintained stock availability ensures that consumer demand is met without interruption. This study used a quantitative approach with primary data sources obtained through questionnaires. The population in this study was all H&G Collection employees in the marketing, finance, and general administration divisions. The sampling technique used a saturated or census sampling method, where all members of the population were sampled. The number of respondents involved in this study was 37. The research instruments were tested for validity and reliability before being used in data collection. The data obtained were analyzed using SPSS version 19 software. The analysis methods included classical assumption tests, multiple linear regression analysis, t-tests, and F-tests to determine partial and simultaneous effects between variables. The results of the study indicate that the three independent variables, namely pricing (X₁), sales promotion (X₂), and stock availability (X₃), have a significant effect on the dependent variable, namely sales volume (Y). This proves that the right pricing strategy, effective promotions, and optimal inventory management can significantly increase sales volume. This finding implies that H&G Collection management needs to maintain and even improve the quality of the implementation of these three variables in an integrated manner to support sales growth and the company's competitiveness in the market.

This study aims to examine and analyze the influence of fundamental factors represented by the current ratio, return on equity, and debt-to-equity ratio, as well as trading volume and market value added variables on the stock prices of industrial sector companies listed on the Indonesian Sharia Stock Index (ISSI) during the 2020–2024 period. This study uses a quantitative approach with secondary data obtained from published financial reports and stock market data. The study population includes all industrial sector companies listed on the ISSI, while the sampling technique used is purposive sampling with certain criteria, resulting in 12 companies as research samples with an observation period of five years. The data analysis method used is panel data regression with the help of Eviews 13 software. The results show that partially the current ratio, debt-to-equity ratio, and trading volume have a significant effect on stock prices, indicating that the level of liquidity, capital structure, and trading activity play an important role in determining stock value in the market. Conversely, return on equity and market value added do not have a significant effect on stock prices, indicating that equity-based profitability and market value added are not always the main considerations for investors in this sector. Simultaneously, the current ratio, return on equity, debt to equity ratio, trading volume, and market value added have a significant effect on stock prices, which means that a combination of fundamental factors, market activity, and investor assessments can collectively influence stock price movements of industrial sector companies in the ISSI.  

This study examines the capital market reaction at the sectoral level to the 2024 General Election in Indonesia, with the aim of providing deeper insight into how political events influence different industries. Using an event study methodology, the analysis is conducted over a 10-trading-day window surrounding February 14, 2024—the official election date—covering five days before and after the event. The research focuses on six major sectoral indices listed on the Indonesia Stock Exchange (IDX), namely Energy, Consumer Cyclicals, Financials, Basic Materials, Industrials, and Technology.Market reaction is measured through two primary dimensions: (1) changes in price valuation, represented by abnormal returns (AR), and (2) shifts in investor activity, measured through Trading Volume Activity (TVA), operationalized as the turnover ratio. Abnormal returns capture the extent to which price changes deviate from expected normal performance, while TVA reflects the level of investor engagement in each sector during the event window.To evaluate differences in market reaction across sectors, the Kruskal–Wallis test is applied for abnormal returns due to non-normal data distribution, and Welch’s ANOVA is used for TVA to account for heterogeneity of variances. The results reveal no statistically significant differences in abnormal returns across the six sectors, suggesting that price adjustments to election-related information occur uniformly across the market, reflecting a degree of informational efficiency. However, the analysis of TVA shows a highly significant difference among sectors. A Games–Howell post-hoc test further indicates that the Energy and Consumer Cyclicals sectors experienced notably higher trading activity compared to other sectors, especially the Financials sector, which recorded the lowest investor engagement.

This study aims to analyze the impact of the Russian invasion of Ukraine on February 24, 2022, on the Indonesian capital market, particularly on the stocks listed in the LQ45 index, as well as on exchange rates and cryptocurrency trading volumes. The research employs a quantitative approach using an event study method, focusing on a 15-day observation window—comprising 7 days before, the day of, and 7 days after the invasion event. The variables analyzed include abnormal return (AR), trading volume activity (TVA), exchange rates, and cryptocurrency transaction volume. The research sample consists of issuers listed in the LQ45 index and the three largest cryptocurrencies by market capitalization—Bitcoin, Ethereum, and Tether (USDT)—selected through purposive sampling. The findings indicate that the Russian invasion of Ukraine had a significant impact on abnormal returns and trading volume activity of LQ45 stocks, as well as on exchange rates and cryptocurrency trading volumes. This geopolitical event emerged as an external factor contributing to market uncertainty, prompting investors to adjust their investment strategies in both stock markets and digital assets. These findings confirm that global conflicts are closely linked to the dynamics of domestic financial markets.

This study examines the impact of boycott actions on changes in company performance, including stock prices, trading volume, and sales, among Israel-affiliated companies listed on the Indonesia Stock Exchange (IDX) in 2023. Using an event study method with a 60-day observation window (H-30 to H+30), the research found a significant decrease in stock price, changes in trading activity, and varying effects on sales. The findings indicate that boycotts, as social movements, can influence market sentiment and investor decisions, especially under the backdrop of global political conflicts.

This study aims to analyze the reaction of the Indonesian capital market to the inauguration of President Prabowo-Gibran using the event study method. The important variables in this study are abnormal returns and trading volume activity, with the population of all companies listed in the LQ45 stock index. The observation period was 14 days. The data consists  of daily closing stock  price, daily closing price of LQ45 IHSG, daily trading volume, and the number of shares outstanding. Hypothesis testing was conducted using the non-parametric Wilcoxon Signed Rank Test, as the data is not normally distributed. The results showed that there was no significant difference in  the average abnormal return. However, a significant difference in the average trading volume activity was found between the periods before and after the presidential inauguration event.  

This study examines the relationship between corporate financial disclosure and investment decisions by shareholders and investors in capital markets. Using a comprehensive dataset of 486 publicly listed companies from multiple stock exchanges over a five-year period (2018-2022), we investigate how the quality, scope, and timing of financial disclosures influence investment behaviors, pricing efficiency, and capital allocation. Through multiple regression analysis, structural equation modeling, and panel data techniques, we find that higher disclosure quality is significantly associated with increased trading volumes (β=0.42, p<0.01), lower bid-ask spreads (β=-0.38, p<0.01), and reduced stock price volatility (β=-0.31, p<0.01). Our analysis reveals that voluntary disclosures beyond regulatory requirements have a stronger impact on institutional investor decisions compared to retail investors. Additionally, the study documents that forward-looking financial information and segment reporting have particularly strong effects on investment decisions during periods of market uncertainty. The findings contribute to disclosure theory and provide empirical evidence for regulators considering disclosure policy reforms, corporate executives formulating communication strategies, and investors developing investment frameworks that incorporate disclosure quality assessment. The study addresses the causality challenge through instrumental variable estimation and difference-in-differences analysis of regulatory changes, enhancing the robustness of the identified relationships.

This study aims to increase brand awareness of Micro, Small, and Medium Enterprises (MSMEs) in Kedungjambe Village by optimizing the use of WhatsApp Business and the Shopee e-commerce platform. The main problem faced by MSMEs is low competitiveness due to lack of visibility among consumers. The proposed solution includes training in digital marketing strategies with a focus on managing WhatsApp Business accounts for more effective communication with customers, as well as utilizing Shopee features to expand the market. MSME actors were given training in creating attractive promotional content on WhatsApp Business, using broadcast features for direct interaction, and managing online stores on Shopee, including optimizing product descriptions, stock management, and sales analysis. In addition, a simulation of utilizing Shopee as a strategic sales channel was also carried out to strengthen the marketing experience. The results of this activity showed a significant increase in brand awareness, the number of customers connected via WhatsApp Business, and sales volume on Shopee for participating MSMEs.

The capital market becomes a place for investors to invest capital and share company for to obtain flow of funds as additional business capital. Capital market conditions are influenced by factors macro that are social, economic, and political. Political factors are very influential in trading stocks in 2024​​ that is election general (election). Research objectives This is for know whether There is difference before and after announcement results presidential election 2024 to the capital market sector energy, technology, infrastructure. Research This use approach event study and is study quantitative. Taking samples in research This use purposive sampling. The data used consists of on ten-day price closing stocks and trading volume share sector energy, infrastructure, and technology listed on the Indonesia Stock Exchange. The data analysis method used in study is a t-test difference analysis model. The results of the study This show No existence difference abnormal returns and trading volume activity before and after announcement results election president 2024 in the sector energy, technology, and infrastructure.