Reaksi pasar modal terhadap kenaikan harga bahan bakar minyak (bbm) bersubsidi pada awal pemerintahan Joko widodo - jusuf kalla

This study was conducted to determine the market reaction to an event. The event in this study was the increase of subsidizied fuel price in the early reign of Joko Widodo-Jusuf Kalla. The samples used in this study were companies incorporated in the Kompas index 100. The sampling technique used was purposive sampling to obtain the sample of 98 companies. Hypothesis testing was using paired sample t test if the data were normally distributed and Wilcoxon singed rank test if the data were not normally distributed. The software used to analyze the data was SPSS 20. The resulted that the first hypothesis stating a significant difference between the AAR before and after the increase of subsidized fuel price was proved acceptable. While the second hypothesis stating that there was significant difference between the ATVA before and after the increase of subsidized fuel price was proved acceptable. It shows that the market was reaching to the increase of subsidized fuel price in the early reign of Joko Widodo - Jusuf Kalla. This price increase was positively reacting, shown by the graph of CAAR that were heading towards positiv