REAKSI PASAR ATAS PERESMIAN VAKSIN COVID-19 OLEH WHO (STUDI PERISTIWA PADA PERUSAHAAN FARMASI DI INDONESIA)

NADEA FIKRAH RASULI, Abdul Halim, Prof., Dr., M.B.A., Ak., CA.

2022 | Skripsi | S1 AKUNTANSI

Penelitian ini bertujuan untuk menguji reaksi pasar terhadap peristiwa peresmian penggunaan vaksin COVID-19. Fokus reaksi pasar yang diuji dalam penelitian ini ialah pada perusahaan di industri farmasi. Penelitian ini menggunakan metodologi studi peristiwa dengan teknik pengambilan sampel yaitu purposive sampling. Data dalam penelitian ini merupakan data sekunder yang diambil melalui yahoo finance dan IDX. Pengolahan data dalam penelitian ini menggunakan t-test yang diolah dengan aplikasi SPSS. The purpose of this study is to investigate how the COVID-19 vaccine's permission of use has affected the market. The pharmaceutical business is the main target of the market reaction investigated in this study. This study employs a purposive sampling strategy along with an event study methodology. The secondary data used in this study was obtained through IDX and Yahoo Finance. The SPSS application was utilized to process the data using a t-test. Hasil penelitian ini menunjukkan bahwa tidak semua peristiwa memiliki kandungan informasi yang memicu reaksi pasar pada industri farmasi di Indonesia. Reaksi pasar yang terdapat di sekitar tanggal peresmian hanya terdapat pada peristiwa peresmian vaksin COVID-19 pertama. Untuk perbedaan reaksi pasar saat sebelum dan sesudah peristiwa peresmian hanya terdapat pada peristiwa ketiga. Dalam kelima peristiwa yang diteliti terdapat berbagai macam reaksi, yaitu (1) reaksi positif yang dianggap sebagai informasi positif, sejalan dengan penggunaan vaksin yang berguna untuk keberlanjutan kegiatan perekonomian; (2) reaksi negatif yang ditangkap sebagai informasi negatif, dengan peningkatan dari segi kesehatan dapat menyebabkan penurunan atas penjualan produk penangan COVID-19 di industri farmasi; (3) tidak bereaksi, sebagai akibat dari reaksi yang telah tertangkap pada peristiwa sebelumnya.

The purpose of this study is to investigate how the COVID-19 vaccine's permission of use has affected the market. The pharmaceutical business is the main target of the market reaction investigated in this study. This study employs a purposive sampling strategy along with an event study methodology. The secondary data used in this study was obtained through IDX and Yahoo Finance. The SPSS application was utilized to process the data using a t-test. The findings of this study show that not every events contains information that triggers market reactions in Indonesia's pharmaceutical industry. Only when the first COVID-19 vaccine was introduced to the market, there is reaction around the date of launch. There is only the third event to account for the difference in market responses before and after the event. There were several different types of reactions in the five events under study, including (1) positive reactions that were viewed as positive information, consistent with the use of vaccines that were helpful for the continuity of economic activity; (2) negative reactions that are captured as negative information, consistent with the improvement of health condition that can lead to a decrease on the sale of COVID-19 handling products in the pharmaceutical industry; and (3) no reaction, as a result of reactions that have been caught in the previous event.

Kata Kunci : Reaksi pasar, vaksin, COVID-19, abnormal retun, event study, pharmaceutical.