Hanief Arifin
Hanief Arifin
Finance & Strategy
Jakarta, Indonesia

About me

Finance and Strategy with 1+ years of experience in business projects. Proven track records on numerous projects about long term corporate plan (RJPP), feasibility study, and business expansion. Experience in financial analyses, budgeting, forecasting, cost management, tax, business analyses, market research, key performance indicator (KPI) monitoring, and data analyses.

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Work & Projects

Explore my research, analyses, and snapshots of real business impact across finance, strategy, and corporate planning.

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Published
The Impact of Buyback Announcement on Stock Anomalies in the Indonesia Stock Exchange [LINK]
Journal of Business and Management Review, 2024
  • Co-authors: R.A. Sista Paramita
  • Abstract
    This research aims to analyse the effect of buyback announcements on stock anomalies, as reflected in abnormal returns, cumulative abnormal returns, and trading volume activity. The sample data comprises 72 companies listed on the Indonesia Stock Exchange that made buyback announcements from 2020 to 2022. An event study methodology was employed to examine the buyback announcement events, and the Wilcoxon Signed-Rank Test was utilised to test for differences before and after the announcements. The results indicate no significant difference in abnormal return or cumulative abnormal return around the buyback announcement dates, but a significant difference in trading volume activity. This study contributes empirically and theoretically by emphasising the impact of buyback announcements on stock anomalies for corporate managers and investors in decision-making under conditions of economic uncertainty due to COVID-19.

Hanief Arifin