The Impact of the 2024 Indonesian Presidential Election Quick Count on Stock Returns of Companies Affiliated to the Presidential Candidates

DOI

10.2991/978-94-6463-698-7_15How to use a DOI?

Keywords

Elections; political economics; event study; market efficiency; abnormal returns

Abstract

Political events can have an impact on the business. This study analyses the reaction of the Indonesian capital market to the announcement of the quick count results of the presidential election on February 15, 2024. The analysis focuses on the stock of companies affiliated with the presidential candidates. This research uses an event study procedure to determine whether there is a market reaction around the announcement of the election quick count results. The test results show abnormal returns before and after the announcement of the quick count results. There is a significant difference in cumulative abnormal returns before and after the announcement of the election quick count results.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - G. Oka Warmana
AU  - Refiana Dwi Maghfiroh
AU  - I Wayan Suarjana
PY  - 2025
DA  - 2025/04/30
TI  - The Impact of the 2024 Indonesian Presidential Election Quick Count on Stock Returns of Companies Affiliated to the Presidential Candidates
BT  - Proceedings of the 3rd International Conference on Management and Business (ICOMB 2024)
PB  - Atlantis Press
SP  - 137
EP  - 144
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-698-7_15
DO  - 10.2991/978-94-6463-698-7_15
ID  - Warmana2025
ER  -