PERBANDINGAN ABNORMAL RETURN DAN VOLUME PERDAGANGAN SAHAM SEBELUM DAN SESUDAH KEBIJAKAN TAX AMNESTY PERIODE I (Study Kasus Pada Bank Persepsi Penerima Dana Uang Tebusan Tax Amnesty Yang Terdaftar di BEI
Authors: Wulandari Wahyuni Retno , Sudrajat Muhamad Agus 
Published: February 2022

<p><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>Mentioned one of the announcements that may affect the price of the securities are governmentrelated announcements, tax amnesty policy is one of the government's policy so it is considered to</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> have an influence on the world of investment in the capital market, therefore this research want to</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> see whether the existence of tax amnesty policy can give abnormal return (AR) and increase</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> volume of stock trading (TVA) on stocks of banks receiving money ransom amnesty tax period I.</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> This research uses event study method. The research data uses secondary data consisting of</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> monthly stock closing price and monthly stock trading volume with 3 months observation period</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> before and 3 months after tax amnesty period I. The market adjusted model is used to calculate the</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> expected return. The hypothesis was tested using paired samples t-test. The samples used are 20</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> beneficiary taxpayer banks registered on IDX with complete data and normally distributed with</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> one-kolmogorov smirnov test.</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em> The results of this study indicate that tax amnesty policy of period I has an effect on abnormal</em><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em>. return and no effect to stock trading volume before and after tax amnesty period I.</em></span></span></span></span></span></span></span></span></span></span></span></span></p><p><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><span style="font-family: CIDFont+F8; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><em></em><br /><span style="font-family: CIDFont+F3; font-size: 9pt; color: #000000; font-style: normal; font-variant: normal;"><strong><em>Keywords: Tax Amnesty, Abnormal Return, Stock Trading Volume</em></strong></span></span></span></span></span></span></span></span></span></span></span></span><br style="font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: 2; text-align: -webkit-auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px;" /></span></p>