Efek Limpahan Isu Konflik Geopolitik Greenland: Sebuah Studi Peristiwa
DOI:
https://doi.org/10.29303/risma.v6i3.3467Keywords:
Geopolitical Issue, Greenland, Stock Prices, Market Reaction, Event Study, Transportasi and Logistic, Spillover EffectAbstract
Greenland is a region with abundant natural resources and potential routes for international maritime transportation. This potential attracted the attention of United States President Donald Trump regarding the management of the Greenland territory. This study aims to examine the relationship between the geopolitical event of the framework agreement announcement on Greenland and market reactions on the Indonesia Stock Exchange (IDX). An event study method was used to conduct a comparative test on the possibility of Abnormal Return and Trading Volume Activity across 21 transportation and logistics sector companies listed on the Indonesia Stock Exchange. The event window was set at 4 days before the event and 4 days after the event. The results of the study indicate that no spillover effects arose as a result of the announcement. The absence of market reaction in Indonesia indicates a semi-strong form efficient market.
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