THE IMPACT REGULATION OF TRADE MINISTER OF THE REPUBLIC OF INDONESIA 82 OF 2017 AGAINST MARKET REACTIONS IN INDONESIA STOCK EXCHANGE

THE IMPACT REGULATION OF TRADE MINISTER OF THE REPUBLIC OF INDONESIA #82 OF 2017 AGAINST MARKET REACTIONS IN INDONESIA STOCK EXCHANGE Utama Kadek Budi Satria*, Purbawangsa Ida Bagus Anom University of Udayana, Bali, Indonesia *E-mail: budisatriia@gmail.com ABSTRACT This study aims to determine the impact and analyze differences in average abnormal returns before and after the issuance of trade minister regulation number 82 of 2017 dated December 8, 2017 on shipping & logistics sub-sectors in the Indonesia Stock Exchange. The results showed the market reaction at t-4, t + 3 and t + 4, but it was suspected that there was a leakage of information indicated by the presence of a significance value at t-4. The results of this study also showed that there were no significant differences before and after the publication of the regulation of the Minister of Trade of the Republic of Indonesia number 82 of 2017. KEY WORDS Abnormal return, event study, market efficiency, capital market.