The value of political connections and Sharia compliance during the COVID-19 pandemic

The relationship between the COVID-19 pandemic and stock market has been well documented in other studies. However, thus far, researchers have shown little interest role of political connections Sharia compliance during pandemic. This study offers novel evidence by investigating value both present We use two kinds analysis. First, using event-study methodology, we measure reaction to Second, further sharpen our identification current pandemic, a pooled regression find that there was anomaly Indonesia had positive impact on market. also for firms being Sharia-compliant when government announced tax incentives firms. Based these results, offer insights relevant policymakers financial authorities seeking enhance effectiveness policy measures In addition, important implications individual investors.