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ANALISIS REAKSI SAHAM BANK-BANK UMUM TERHADAP PERUBAHAN FOREIGN EXCHANGE SYSTEM DI PASAR MODAL INDONESIA

ID : 11-01-01, ISSN : 0854-4190 , PUB: Vol 11 , April, 2004

Abstract

This study investigated the reaction of stock price and trading volume in publicly listed commercial banks due to the change in exchange rate regime from managed to face-float exchange rate system. Data is collected from JSX data base using proposive sampling 24 of 31 banks are selected as sample of study based upon two criteria, period of listed and listing status. Those wide listing period before march 1997 and no record of delisting status over the observation period are finally selected. Using one and period sample test this study finds that there is no significan difference on ARR before and after the period of change in exchange rate regimens. Where as for average trading volume activity, this is a significantly different between before and after the change in exchange rate system

 

Keyword: forex system, floating exchange rate, capital market, jakarta stock exchange

Author: Amir Kusnanto