{"id":21669,"date":"2025-08-22T02:43:20","date_gmt":"2025-08-22T02:43:20","guid":{"rendered":"https:\/\/feb.unair.ac.id\/uncategorized\/stock-market-responses-to-covid-19evidence-from-jakarta-islamic-index\/"},"modified":"2025-08-22T02:43:20","modified_gmt":"2025-08-22T02:43:20","slug":"stock-market-responses-to-covid-19evidence-from-jakarta-islamic-index","status":"publish","type":"post","link":"https:\/\/feb.unair.ac.id\/artikel-ilmiah\/stock-market-responses-to-covid-19evidence-from-jakarta-islamic-index\/","title":{"rendered":"Stock Market Responses to Covid-19:Evidence from Jakarta Islamic Index"},"content":{"rendered":"

Title<\/strong>: Stock Market Responses to Covid-19:Evidence from Jakarta Islamic Index<\/p>\n

Authors<\/strong>:<\/p>\n

    \n
  1. Bayu Arie Fianto<\/li>\n
  2. Perdana Adi Nugroho2<\/li>\n
  3. Syed Alamdar Ali Shah3<\/li>\n
  4. Rogier Busser<\/li>\n<\/ol>\n

    Department<\/strong>: Ekonomi Islam<\/p>\n

    Journal Name<\/strong>: Jurnal Ekonomi & Keuangan Islam<\/p>\n

    Kinds of Journal<\/strong>: S1 \/ S2<\/p>\n

    Keywords<\/strong>: Islamic stock, Covid-19, Event study, Abnormal return, Trading volume activity<\/p>\n

    Abstract<\/strong>:<\/p>\n

    Purpose\u2013This study examines the effect ofCovid-19 in Indonesia on the value of abnormal returns, trading volume activity,and efficiency of the Jakarta Islamic Index (JII), the Indonesian Islamic stock market.Methodology \u2013This study employed the event study modelto measure the relationship between important events related to the Indonesian Covid-19 pandemic on stock returns and the stock trading volume of JII indexed companies. Using research analysis techniques in the form of a market-adjusted model, this study determines the period of eventsbefore, during, and after the event.Findings\u2013This study found that the global Covid-19 announcement, announcement of the new normal, and announcement of the Covid-19 vaccination gave a significant abnormal return reaction to the JII index and did not provide a significant trading volume activity reaction. Implications\u2013Indonesia’s Islamic stock market, which falls into the semi-strong efficient category, responds quickly to important public information such as Covid-19-related announcements. Investors showed high sensitivity to major news, but trading volumes did not change significantly, indicating a cautious adjustment strategy. The different reactions across sectors, especially industry and energy, highlight the need for investor portfolio diversification. It is important for policymakers to provide clear and timely communication to maintain market stability during crises. Further research is required to understand the long-term impact and extend the coverage of international Islamic stock markets.Originality\u2013This study examines several important Covid-19 events that occurred in Indonesia on stock returns and trading volumes in the Indonesian Islamic stock market<\/p>\n

    For details<\/strong>: https:\/\/journal.uii.ac.id\/JEKI\/article\/view\/30995\/16992<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Title: Stock Market Responses to Covid-19:Evidence from Jakarta Islamic Index Authors: Bayu Arie Fianto Perdana Adi Nugroho2 Syed Alamdar Ali Shah3 Rogier Busser Department: Ekonomi Islam Journal Name: Jurnal Ekonomi & Keuangan Islam Kinds of Journal: S1 \/ S2 Keywords: Islamic stock, Covid-19, Event study, Abnormal return, Trading volume activity Abstract: Purpose\u2013This study examines the […]<\/p>\n","protected":false},"author":100,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[],"class_list":["post-21669","post","type-post","status-publish","format-standard","hentry","category-artikel-ilmiah"]}