Analisis Reaksi Pasar Saham Terhadap Peristiwa Reshuffle Kabinet Kerja 2015

The purpose of this research is to analyze the stock market reaction to the events reshuffled Kabinet Kerja on August 12, 2015 as seen from abnormal stock returns in terms of the size of the company. This research using event study, which carried out observations of abnormal return for five days before, the event date and five days after the event. This research uses secondary data, daily stock closing price obtained from the Indonesia Stock Exchange and yahoo finance. Expected return was used mean adjusted return model. The samples used were large and small capitalization companies in the Indonesia Stock Exchange. The results showed that the reshuffle events of Kabinet Kerja in 2015 provides significant abnormal returns for investors during the period of observation. Before and after the reshuffle events of Kabinet Kerja in 2015 there were differences significant average abnormal return. In response IPOs of large and small capitalization companies showed a significant difference. Keywords : Event Study, Abnormal Return, Mean- Adjusted Model, market capitalizatio