Reaksi Pasar Modal Indonesia Terhadap Peristiwa Penutupan Bank di Amerika Serikat

Abstract

The banking sector plays a crucial role in global economic growth. However, the banking sector poses a greater risk to the economy in terms of systemic risks compared to a typical corporate failure. This is due to the role of banks as part of the payment system. For instance, the closure of banks in the United States caused negative spillover effects in the United States and several other countries. This study aims to determine the market reaction to the bank closure event in the United States on companies in the banking sector and technology sector listed on the Indonesia Stock Exchange. The research method employed in this study is comparative research using a quantitative approach and the event study method. This study employs abnormal returns and trading volume activity as indicators of 39 and 33 companies in the banking sub-sector and technology sector that fulfill the criteria as research samples, respectively. The results indicate no significant differences in abnormal returns and trading volume activity before and after the event among the banking sub-sector and technology sector companies. This suggests that the event of bank closures in the United States had no impact on stock prices and transactions.