Adrian, Fransiskus and Siahaan, Antonius TP. (2018) Analysis Of Stock Market Reaction Towards Tax Amnesty Program Announcement: Evidence From Indonesia Stock Exchange (IDX) And Singapore Stock Exchange (SGX). Bachelor thesis, Swiss German University.

Preview	Text Fransiskus Adrian 11403042 TOC.pdf Download (199kB) | Preview
	Text Fransiskus Adrian 11403042 1.pdf Restricted to Registered users only Download (242kB)
	Text Fransiskus Adrian 11403042 2.pdf Restricted to Registered users only Download (377kB)
	Text Fransiskus Adrian 11403042 3.pdf Restricted to Registered users only Download (582kB)
	Text Fransiskus Adrian 11403042 4.pdf Restricted to Registered users only Download (434kB)
	Text Fransiskus Adrian 11403042 5.pdf Restricted to Registered users only Download (215kB)
Preview	Text Fransiskus Adrian 11403042 Ref.pdf Download (228kB) | Preview

Abstract

On 1 July 2016, Indonesia’s President Joko Widodo announce that Indonesia is implementing a tax amnesty program. A program which will cause a lot of money come in to Indonesia. This event study is intended to analyze the initial reaction of the stock market in Indonesia and Singapore towards that announcement. To measure the stock market reaction, abnormal return and trading volume activity are used as the indicator. The data used in this research is secondary data consists of daily stock prices, daily market index prices, daily stock volumes, and stock outstanding shares. With a purposive sampling method, then it is selected 40 stocks from LQ45 index in Indonesia Stock Exchange and 30 stocks from Straits Times Index in Singapore Stock Exchange. The observation period is 21 trading days consisting of ten days before, ten days after, and the event day. The research concluded that: 1) there is no positive and significant abnormal return found in Indonesia stock market during the event; 2) there is no significant differences of average abnormal return and average trading volume activity in Indonesia stock market before and after the event; 3) there is no negative and significant abnormal return found in Singapore stock market during the event; 4) there is no significant differences of average abnormal return and average trading volume activity in Singapore stock market before and after the event. Which the findings in this research indicate that there is no reaction from Indonesia stock market and Singapore stock market towards Indonesia’s tax amnesty program announcement on 1 July 2016.

Item Type:	Thesis (Bachelor)
Uncontrolled Keywords:	Tax Amnesty; Abnormal Return; Trading Volume Activity; Event Study
Subjects:	H Social Sciences > HG Finance > HG4551 Stock exchanges H Social Sciences > HJ Public Finance > HJ2240 Revenue. Taxation. Internal revenue
Divisions:	Faculty of Business Administration and Communication > Department of Business Administration
Depositing User:	Astuti Kusumaningrum
Date Deposited:	19 May 2020 02:57
Last Modified:	19 May 2020 02:57
URI:	http://repository.sgu.ac.id/id/eprint/557

Actions (login required)

View Item