Analysis Of The Impact Of The Meikarta Project Halt On Companies In The Property And Real Estate Sector: A Difference In Difference Analysis

Didik Adi Sabara, Arintoko Arintoko, Suharno Suharno

Abstract


This study aims to analyze the impact of the Meikarta project halt on the movement of stock prices in companies within the property and real estate sector. The research sample includes financial reports of companies in this sector during the period of 2013-2023. The influence of these changes is tested using the Difference in Difference (DID) analysis technique within a regression model. The research findings indicate no significant difference in stock price changes between the affected (Treated) and control groups before the cessation of the Meikarta project (p-value = 0.139 > 0.05). Furthermore, the difference in stock price changes between the two groups before the project cessation is also not significant (p-value = 0.287 > 0.05). The Diff-in-Diff analysis results suggest that stock price changes after the cessation of the Meikarta project do not differ significantly between the two groups, with a p-value of 0.442 (p-value > 0.05). Therefore, it can be concluded that the Meikarta project halt does not have a significant impact on stock price changes between the two groups. These additional analysis results reinforce the hypothesis testing of the Difference in Difference (DID) analysis with the regression model. This research is expected to provide guidance for investors in making investment decisions, especially in facing similar situations of significant project halts that could potentially affect company stock prices.

Keywords: Stock Price, DID, Difference in Difference, Meikarta


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