RESPON INVESTOR TERHADAP TINDAKAN AKUISISI EMITEN PADA SEKTOR PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

The purpose of this research is to examine the relationship between the acquisition in 2023 and the following events on the Indonesia Stock Exchange (IDX): stock returns, anomalous returns, and trading volumes of banking activity. The study samples consist of three financial institutions: Bank Rakyat Indonesia Tbk (BBRI), Bank Danamon Indonesia Tbk (BDMN), and Bank Maspion Indonesia Tbk (BMAS). The secondary data was evaluated using a quantitative methodology and an event study technique during the course of the 115-day observation period. The analytic tool utilized,
SPSS 29, was the Wilcoxon Signed Ranks assess and the Paired Sample T-Test, which were used to assess hypotheses, data normality, and descriptive statistics. According to the findings, there was a noticeable change in BMAS's stock return and abnormal return before and after the acquisition; in contrast, BBRI and BDMN did not exhibit any significant difference. Also, the TVA test found no significant differences between the three institutions. The findings demonstrate that acquisitions do not necessarily significantly affect the movement of capital market variables such as abnormal returns, stock returns, and TVA.