PENGARUH COVID-19 TERHADAP PASAR MODAL DI INDONESIA

Abstract

ABSTRACT

The COVID-19 outbreak has clearly had a significant impact on various sectors including macroeconomic performance and even on the financial sector and capital market. The fear of the COVID-19 outbreak caused various reactions from all stakeholders, including capital market investors. The regional quarantine which required the closure of various industrial sectors caused a crash in the capital market, resulting in a market reassessment of company value and a decline in stock prices in Indonesia. This study will discuss the impact of covid-19 on the capital market in Indonesia, find out significant changes in capital market conditions before and after the covid-19 pandemic using Paired Samples Test and explore literature reviews on the impact of covid-19 on the capital market. The results showed that there was a significant difference in the IHSG before and after the COVID-19 pandemic in Indonesia in early March 2020. The capital market in Indonesia reacted negatively even before it was confirmed that COVID-19 had entered Indonesia, with the lowest point being 1 month after Covid-19 was confirmed to have entered Indonesia. The period after that shows an upward trend even though it has not been able to achieve performance before the covid-19 pandemic.

Keywords: IHSG; covid-19.

ABSTRAK

     Wabah covid-19 memiliki dampak yang signifikan terhadap berbagai sektor termasuk kinerja makro ekonomi bahkan berdampak luas terhadap sektor keuangan dan pasar modal. Ketakutan akan wabah covid-19 menimbulkan berbagai reaksi dari semua stakeholders, salah satunya investor pasar modal. Karantina wilayah yang mengharuskan penutupan berbagai sektor industry menyebabkan terjadinya crash di pasar modal sehingga terjadi penilaian ulang pasar terhadap nilai perusahaan dan penurunan harga saham di Indonesia.  Penelitian ini akan membahas dampak dari covid-19 terhadap pasar modal di Indonesia, melihat adakah perubahan yang signifikan mengenai kondisi pasar modal sebelum dan sesudah pandemi covid-19 menggunakan Paired Samples Test dan berupaya menggali secara literature review mengenai dampak covid-19 terhadap pasar modal. Hasil penelitian menunjukan bahwa terjadi perbedaaan yang signifikan pada IHSG sebelum dan sesudah adanya pandemi covid-19 di Indonesia pada awal maret 2020. Pasar modal di Indonesia bereaksi negative bahkan sebelum dikonfirmasi covid-19 masuk ke Indonesia dengan titik terendah 1 bulan pasca covid terkonfirmasi masuk Indonesia, periode setelahnya menunjukan trend kenaikan walaupun belum bisa mencapai kinerja sebelum adanya pandemic covid-19.

 

Kata Kunci: IHSG; covid-19