DIFFERENCES IN STOCK PRICES AND NET FOREIGN TRANSACTIONS BEFORE AND AFTER ANNOUNCEMENTS BY MSCI AND MOODY’S: A STUDY OF COMPANIES LISTED IN THE LQ45 INDEKS

Abstract

This study aims to examine differences in stock prices and net foreign flows before and after announcements by MSCI and Moody’s Corporation, focusing on companies listed on the LQ45 index. The research employs a quantitative, causal-comparative method involving 45 companies listed on the LQ45 index. Data analysis was conducted using descriptive statistics, normality tests, and non-parametric tests with the aid of SPSS 26 software. The results indicate that: (1) there is no significant difference in stock prices before and after MSCI announcements; (2) there is a significant difference in net foreign flows before and after MSCI announcements; (3) there is no significant difference in stock prices before and after Moody’s announcements; and (4) there is no significant difference in net foreign flows before and after Moody’s announcements