Last modified: 2023-11-17
Abstract
This study was conducted with the aim of determining how Eid al-Fitr affects the abnormal return of LQ45 shares in 2019-2021 on the Indonesia Stock Exchange. The data used in this study is secondary data obtained from the investing.com website in the form of historical reports on the stock prices of each company used as a sample in this study. The samples used in this study are as many as 45 companies registered in LQ45 until 2023, where the data analysis technique used is a comparison test using an independent sample t-test using the help of SPSS software version 26. The results showed that there was no significant difference between abnormal stock returns before and after the Eid al-Fitr holiday. However, abnormal stock returns before Eid al-Fitr holidays are slightly better than abnormal stock returns after Eid al-Fitr holidays in companies listed in LQ45 for the 2019-2021 period. So it can be concluded that the Eid al-Fitr holiday does not have an impact on price changes or stock returns in companies listed on LQ45 during the 2019-2021 period.