REAKSI PASAR PERUSAHAAN BUMN PADA PENERBITAN RESTATEMENT LAPORAN KEUANGAN PT GARUDA INDONESIA TBK

Bunga Maharani; Yehezkiel Geoffrey; Indah Purnamawati; Nining Ika Wahyuni

doi:10.19184/jauj.v21i1.40328

Bunga Maharani Universitas Jember
Yehezkiel Geoffrey Universitas Jember
Indah Purnamawati Universitas Jember
Nining Ika Wahyuni Universitas Jember

DOI: https://doi.org/10.19184/jauj.v21i1.40328

Abstract

This study aimed to investigate whether there is a difference in abnormal returns of BUMN (State-Owned Enterprises) stock prices before and after the issuance of financial report restatements. The data for this study was obtained from secondary sources, specifically the share price data of state-owned companies listed on the Indonesia Stock Exchange. The analysis focused on the 5-day period before the issuance of the restated financial reports and the 5-day period after. The sample selection employed purposive sampling, and the data were analyzed using the Wilcoxon Signed Rank Test in SPSS. The findings of this study indicate that the incident of financial report restatement by PT Garuda Indonesia (Persero), Tbk did not result in any significant differences in the share prices of BUMN companies listed on the Indonesia Stock Exchange.
Keywords: abnormal return, financial report restatement, market reaction

ABSTRAK
Penelitian ini bertujuan untuk mengetahui apakah terdapat perbedaan abnormal return harga saham BUMN (Badan Usaha Milik Negara) sebelum dan sesudah penerbitan restatement laporan keuangan. Data untuk penelitian ini diperoleh dari sumber sekunder, yaitu data harga saham perusahaan milik negara yang terdaftar di Bursa Efek Indonesia. Analisis difokuskan pada periode 5 hari sebelum penerbitan laporan keuangan yang disajikan kembali dan periode 5 hari sesudahnya. Pemilihan sampel menggunakan purposive sampling, dan data dianalisis menggunakan Wilcoxon Signed Rank Test dengan SPSS. Temuan penelitian ini menunjukkan bahwa peristiwa restatement laporan keuangan oleh PT Garuda Indonesia (Persero) Tbk tidak mengakibatkan perbedaan yang signifikan pada harga saham perusahaan BUMN yang terdaftar di Bursa Efek Indonesia.
Kata Kunci: abnormal return, reaksi pasar, restatement laporan keuangan

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