KOMPARASI ABNORMAL RETURN DAN TRADING VOLUME ACTIVITY AKIBAT BOIKOT, DIVESTASI DAN SANKSI SEBELUM DAN SESUDAH KAMPANYE ALL EYES ON RAFAH

M. Faiz Azhar Rambe, Silvi Asna Prestianawati

Abstract


The Israeli attack on the refugee camp in Rafah on May 26, 2024 gave rise to a campaign with the slogan “All Eyes on Rafah” and also encouraged people to join the BDS Movement against Israeli-affiliated companies. This study aims to analyze the differences in abnormal return and trading volume activity caused by the Boycott, Divestment, and Sanctions (BDS) Movement in Israeli-affiliated companies in the Indonesian Sharia Stock Index after the All Eyes on Rafah campaign.   Based on signaling theory, an event can cause positive or negative reactions that will cause market reactions. Research with quantitative methods and event study approaches uses secondary data analyzed through the wilcoxon signed  rank  test  processed  with  SPSS  version  27  and  Microsoft  Excel.  The analysis resulted in no significant difference in abnormal returns before and after the event but the market reacted negatively. trading volume activity has a significant difference between before and after the event.


Keywords


BDS Movement, abnormal return, trading volume activity, all eyes on rafah

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References


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DOI: http://dx.doi.org/10.30829/hf.v12i2.27022

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