PERBEDAAN HARGA SAHAM DAN RETURN SAHAM SEBELUM DAN SESUDAH PANDEMI COVID-19
At the end of 2019, the COVID-19 virus spread widely worldwide as there was no vaccine for it. On March 2, 2020, when the first case occurred, many people in Indonesia were afraid that it would be higher. Every sector was affected, including the capital market. Therefore, this research aimed to examine and analyze the effect of the first announcement of COVID-19 in Indonesia on price change and stock return at PT Wijaya Karya (Persero) Tbk. The data analysis technique used paired sample of T-tests with a case-study approach. Moreover, the research was quantitative. The population was PT Wijaya Karya (Persero) Tbk with 59 daily data, before and after COVID-19, and firstly announced nationally, as the sample. Furthermore, the data analysis technique used multiple linear regression with SPSS. The research result concluded that stock price had a significant effect since the first announcement of COVID-19 in Indonesia. However, the stock return did not change as the first announcement of COVID-19 in Indonesia.