{"id":"https://openalex.org/W4412513402","doi":"https://doi.org/10.31937/manajemen.v17i1.4188","title":"TRUMP TARIFF ON INDONESIA STOCK EXCHANGE. DOES THE MARKET RECOVER ONE MONTH AFTER THE ANNOUNCEMENT?","display_name":"TRUMP TARIFF ON INDONESIA STOCK EXCHANGE. DOES THE MARKET RECOVER ONE MONTH AFTER THE ANNOUNCEMENT?","publication_year":2025,"publication_date":"2025-06-30","ids":{"openalex":"https://openalex.org/W4412513402","doi":"https://doi.org/10.31937/manajemen.v17i1.4188"},"language":"en","primary_location":{"id":"doi:10.31937/manajemen.v17i1.4188","doi":"https://doi.org/10.31937/manajemen.v17i1.4188","is_oa":true,"landing_page_url":"https://doi.org/10.31937/manajemen.v17i1.4188","pdf_url":"https://ejournals.umn.ac.id/index.php/manajemen/article/download/4188/1745","source":{"id":"https://openalex.org/S4210204158","display_name":"Ultima Management Jurnal Ilmu Manajemen","issn_l":"2085-4587","issn":["2085-4587","2549-404X"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I3133096382","host_organization_name":"Multimedia Nusantara University","host_organization_lineage":["https://openalex.org/I3133096382"],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ultima Management : Jurnal Ilmu Manajemen","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://ejournals.umn.ac.id/index.php/manajemen/article/download/4188/1745","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5043766015","display_name":"Andreas Kiky","orcid":"https://orcid.org/0000-0002-5776-1594","observed_orcids":["https://orcid.org/0000-0002-5776-1594"]},"institutions":[{"id":"https://openalex.org/I4405274644","display_name":"Universitas Pradita","ror":"https://ror.org/0238nm695","country_code":"ID","type":"education","lineage":["https://openalex.org/I4405274644"]}],"countries":["ID"],"is_corresponding":true,"raw_author_name":"Andreas Kiky","raw_affiliation_strings":["Pradita University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Pradita University","institution_ids":["https://openalex.org/I4405274644"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5043766015"],"corresponding_institution_ids":["https://openalex.org/I4405274644"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.17101441,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"17","issue":"1","first_page":"63","last_page":"73"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9911999702453613,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9911999702453613,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.007499999832361937,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":0.00039999998989515007,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/trump-tariffs","display_name":"Trump tariffs","score":0.8019999861717224},{"id":"https://openalex.org/keywords/indonesia-stock-exchange","display_name":"Indonesia Stock Exchange","score":0.597000002861023},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.7599999904632568},{"id":"https://openalex.org/keywords/policy-spillovers","display_name":"policy spillovers","score":0.6060000061988831},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.5239999890327454},{"id":"https://openalex.org/keywords/low-beta-stocks","display_name":"low-beta stocks","score":0.6510000228881836},{"id":"https://openalex.org/keywords/efficient-market-hypothesis","display_name":"efficient market hypothesis","score":0.6510000228881836},{"id":"https://openalex.org/keywords/investor-behavior","display_name":"investor behavior","score":0.5479999780654907},{"id":"https://openalex.org/keywords/systematic-risk","display_name":"systematic risk","score":0.3779999911785126}],"concepts":[{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.6028911471366882},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.5954617857933044},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.5716267228126526},{"id":"https://openalex.org/C2776060655","wikidata":"https://www.wikidata.org/wiki/Q52389","display_name":"Tariff","level":2,"score":0.5273248553276062},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4792878031730652},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3784683048725128},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.3653244376182556},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.349598228931427},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2083134949207306},{"id":"https://openalex.org/C205649164","wikidata":"https://www.wikidata.org/wiki/Q1071","display_name":"Geography","level":0,"score":0.07573869824409485},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.31937/manajemen.v17i1.4188","doi":"https://doi.org/10.31937/manajemen.v17i1.4188","is_oa":true,"landing_page_url":"https://doi.org/10.31937/manajemen.v17i1.4188","pdf_url":"https://ejournals.umn.ac.id/index.php/manajemen/article/download/4188/1745","source":{"id":"https://openalex.org/S4210204158","display_name":"Ultima Management Jurnal Ilmu Manajemen","issn_l":"2085-4587","issn":["2085-4587","2549-404X"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I3133096382","host_organization_name":"Multimedia Nusantara University","host_organization_lineage":["https://openalex.org/I3133096382"],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ultima Management : Jurnal Ilmu Manajemen","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.31937/manajemen.v17i1.4188","doi":"https://doi.org/10.31937/manajemen.v17i1.4188","is_oa":true,"landing_page_url":"https://doi.org/10.31937/manajemen.v17i1.4188","pdf_url":"https://ejournals.umn.ac.id/index.php/manajemen/article/download/4188/1745","source":{"id":"https://openalex.org/S4210204158","display_name":"Ultima Management Jurnal Ilmu Manajemen","issn_l":"2085-4587","issn":["2085-4587","2549-404X"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I3133096382","host_organization_name":"Multimedia Nusantara University","host_organization_lineage":["https://openalex.org/I3133096382"],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Ultima Management : Jurnal Ilmu Manajemen","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4412513402.pdf","grobid_xml":"https://content.openalex.org/works/W4412513402.grobid-xml"},"referenced_works_count":15,"referenced_works":["https://openalex.org/W1995743481","https://openalex.org/W2035277044","https://openalex.org/W2131055507","https://openalex.org/W2160385931","https://openalex.org/W3037989658","https://openalex.org/W3088767018","https://openalex.org/W3123810514","https://openalex.org/W3124652039","https://openalex.org/W3170978035","https://openalex.org/W4206714417","https://openalex.org/W4231546411","https://openalex.org/W4232474910","https://openalex.org/W4290960309","https://openalex.org/W4396694381","https://openalex.org/W4409792105"],"related_works":["https://openalex.org/W2008141219","https://openalex.org/W3125342176","https://openalex.org/W3121164752","https://openalex.org/W2910781779","https://openalex.org/W3124800131","https://openalex.org/W2357237608","https://openalex.org/W2040018447","https://openalex.org/W2148435472","https://openalex.org/W2251882796","https://openalex.org/W1499265729"],"abstract_inverted_index":{"Abstract":[0],"-":[1],"This":[2,30],"study":[3,64],"examines":[4],"the":[5,11,27,33,38,41,48,59,66,76,97,101,106,109,122,133,136,170,177,188],"Indonesian":[6,20],"stock":[7],"market's":[8],"reaction":[9],"to":[10,24,26,82,182],"U.S.":[12],"tariff":[13],"announcement":[14],"on":[15,37,89],"April":[16,93,104],"1,":[17],"2025.":[18],"The":[19,86,112],"Stock":[21],"Market":[22,205],"tends":[23],"overreact":[25],"Trump":[28,42],"Announcement.":[29],"paper":[31],"presents":[32],"latest":[34],"empirical":[35],"findings":[36,113],"effect":[39],"of":[40,71,108,135,179,190],"Tariff":[43,200],"announcement,":[44,102],"made":[45],"immediately":[46,120],"after":[47,58,100,121],"market":[49,98,123],"reopened":[50,99],"following":[51],"a":[52,56,115,127,142],"long":[53],"holiday":[54],"and":[55,103,186],"month":[57],"event.":[60],"Employing":[61],"an":[62],"event":[63],"methodology,":[65],"research":[67],"analyses":[68],"abnormal":[69,118,130,147],"returns":[70,148],"782":[72],"listed":[73],"firms":[74],"using":[75],"Capital":[77],"Asset":[78],"Pricing":[79],"Model":[80],"(CAPM)":[81],"estimate":[83],"expected":[84],"returns.":[85],"analysis":[87,154],"focuses":[88],"two":[90,151],"critical":[91],"points:":[92],"8th":[94],"2025,":[95],"when":[96],"30th,":[105],"end":[107,134],"post-event":[110],"window.":[111],"reveal":[114],"significant":[116,144],"negative":[117],"return":[119,131],"reopened,":[124],"followed":[125],"by":[126],"strong":[128],"positive":[129],"at":[132],"month.":[137],"A":[138],"paired-sample":[139],"test":[140],"confirms":[141],"statistically":[143],"difference":[145],"in":[146,193],"between":[149],"these":[150],"periods.":[152],"Cross-sectional":[153],"across":[155],"beta":[156],"tertiles":[157],"shows":[158],"that":[159],"systematic":[160],"risk":[161,191],"levels":[162],"influenced":[163],"investor":[164,195],"reactions,":[165],"with":[166],"low-beta":[167],"stocks":[168],"experiencing":[169],"most":[171],"pronounced":[172],"reversal.":[173],"These":[174],"results":[175],"highlight":[176],"sensitivity":[178],"emerging":[180],"markets":[181],"global":[183],"policy":[184],"shifts":[185],"underscore":[187],"importance":[189],"exposure":[192],"shaping":[194],"behaviour.":[196],"Keywords:":[197],"Event":[198],"Studies;":[199],"Effect;":[201],"Abnormal":[202],"Return;":[203],"Efficient":[204],"Hypothesis;":[206],"Policy":[207],"Spilover":[208]},"counts_by_year":[],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2025-10-10T00:00:00"}