Abstract

The purpose of this study is to test and prove the significant differences in the performance of LQ45 stocks before and after the national announcement of the Covid-19 outbreak. This research uses secondary data and quantitative research with the event study method. The events observed in this study were the Covid-19 outbreak on stock performance as measured by changes in stock prices and LQ45 stock returns before and after the Covid-19 pandemic was announced. The sampling technique in this study used a saturated sampling technique. Therefore, the sample of this study is all listing companies listed on the Indonesia Stock Exchange (IDX) with the LQ45 index category, namely 45 issuers. The analysis technique used is paired sample t-test if the data is normally distributed, but if it is not normal then use the Wilcoxon signed rank test. The results of the study showed that there were significant differences in LQ45 stock prices and stock returns before and after the national announcement of the Covid-19 outbreak. Thus, the existence of the Covid-19 outbreak in Indonesia affected the stock price and stock returns of LQ45.