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

ID : 11-01-07, ISSN : 0854-4190 , PUB: Vol 11 , April, 2004

Abstract

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 free-float exchange rate system. Data is collected from JSX database using proposive sampling 24 of 31 banks are selected as sample of study based upon two criteria, period of listing and listing status. Those with listing period before march 1997 and no record of delisting status over the observation period are finally selected. Using one and paired sample test this study finds that there is no significan difference on ARR before and after the period of change in exchange rate regimes. Where as for average trading volume activity, there is a significantly different between before and after the change in exchange rate system Keywords : Forex system, floating exchange rate, capital market, Jakarta Stock Exchange

 

Keyword: Forex system, floating exchange rate, capital market, Jakarta Stock Exchange

Author: Amir Kusnanto