Monday Effect and Weekend Effect Testing on IDX 30 Index on Indonesia Stock Exchange Period Before and During Covid 19 Pandemic

Wiratni, I Gusti Ayu sri and Surasni, Ni Ketut and Suryani, Embun (2020) Monday Effect and Weekend Effect Testing on IDX 30 Index on Indonesia Stock Exchange Period Before and During Covid 19 Pandemic. Journal of Xi’an Shiyou University, Natural Science Edition, 17 (7). pp. 116-123. ISSN 1673-064X

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Official URL: https://www.xisdxjxsu.asia/viewarticle.php?aid=376

Abstract

This study aims to find out the effect of the Monday effect and weekend effect on the IDX-30 index in the Indonesia stock exchange period before and during pandemic covid-19. This type of research is a quantitative research using comparative methods. The data collection method is done using a purposive sampling method, a sampling technique with certain criteria. The population in this study is companies that are included in the IDX-30 index on the Indonesia Stock Exchange with an observation period of 1 month (4 weeks) before the Covid-19 pandemic and one month (4 weeks) during the Covid-19 pandemic. Sampling used in this study, i.e., selected by purposive sampling method. Data analysis techniques performed are Descriptive Statistical analysis, Normality Test, One-Sample t-Test Test, T-Test Test, and Independent Sample T-Test. The results showed that: (1) There was a Monday Effect on companies that were included in the IDX-30 index on the Indonesia Stock Exchange before the covid-19 pandemic; (2) Monday Effect occurs on companies listed on the IDX-30 index on Indonesia Stock Exchange during the covid-19 pandemic; (3) There is a significant difference in abnormal returns in the anomaly of Monday effect of companies listed on the IDX-30 index in the observation period; (4) There is a Weekend Effect on companies listed on the IDX-30 index on the Indonesia Stock Exchange before the covid-19 pandemic; (5) There is a Weekend Effect on companies listed on the IDX-30 index on the Indonesia Stock Exchange during the covid-19 pandemic; (6) there are differences but not significant for weekend effect market anomalies in the period before Covid-19 and during Covid-19 for idx30 index in IDX.

Item Type: Article
Keywords (Kata Kunci): Monday effect; weekend effect; Indonesia stock exchange
Subjects: H Social Sciences > HG Finance
Divisions: Fakultas Ekonomi
Depositing User: Mrs Embun Suryani
Date Deposited: 06 Jan 2022 00:08
Last Modified: 06 Jan 2022 00:08
URI: http://eprints.unram.ac.id/id/eprint/26927

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