THE EFFECT OF GOVERNMENT POLICY ON STOCK RETURNS DURING COVID-19 PANDEMIC IN INDONESIA.

This study and analyze the impact of the announcement of the government's social distancing policy on stock returns and the impact of the announcement of the government's health policy on stock returns. This study uses a quantitative approach. The population in this study uses data on the COVID-19 stringency index, COVID-19 containment and health index, and the exchange rate. The results show that the announcement of the government's social distancing policy has a positive and significant effect on stock returns, and the government's health policy has a positive and significant impact on stock returns. recommendations were obtained for the government to accelerate the stability of the stock market by conducting more intensive socialization related to the dangers and prevention of COVID-19 and recommendations for investors to apply the best strategy in investing in pandemic conditions by conducting fundamental and technical analysis, conducting stock portfolios, choosing business sectors that are still needed in pandemic conditions. [ABSTRACT FROM AUTHOR]