Reaksi Pasar atas Penyebaran Coronavirus Disease 2019 (COVID-19)

COVID-19 has become a negative sentiment for stock markets around the world. On Monday, March 2, 2020, Indonesian President Joko Widodo announced findings of first infection case in Indonesia. This study aims to test whether there is market reaction spread COVID-19. Market this measured by abnormal returns, which difference between expected returns and realized returns. Abnormal were estimated using market-adjusted model. was conducted on issuers included LQ 45 index. The sample determined purposive sampling technique. research 2020 9, as date event. number companies used amounted companies. results indicate that 2 no COVID-19, while 9 COVID-19.
 Keywords: Event Studies; Return;