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Deaths and diseases: The impact of Covid-19 in Indonesian stock return

Department of Management, Universitas Negeri Semarang, Indonesia, Indonesia

Open Access Copyright 2023 Diponegoro International Journal of Business under http://creativecommons.org/licenses/by-sa/4.0.

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Abstract
This study aims to determine whether COVID-19 can have an impact on the stock market returns in the Indonesia Stock Exchange, especially on the LQ45 Index. This study uses secondary data, spesifically confirmed positive cases of COVID-19 and cases of death due to COVID-19 during the period 1 April to 30 June 2020 obtained from the official website of the Komite Penanganan COVID-19 dan Pemulihan Ekonomi Nasional - SATGAS Penanganan COVID-19. This study uses a panel data regression method to test the hypothesis. Our findings show that confirmed positive cases of COVID-19 and cases of death due to COVID-19 have a positive effect on stock market returns on the LQ45 Index.
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Keywords: COVID-19; LQ45; Stock Market Returns.

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