Navigating Volatile Markets: The Crucial Role of Regulatory Framework in Shaping Market Dynamics
Schlagworte:
Market Volatility, Regulatory Framework, Free Float RequirementAbstract
Indonesia’s Composite Stock Price Index experienced a significant decline, dropping by 9.12% (nine point twelve percent)—a stark indicator of market volatility. This volatility not only reflects statistical fluctuations in market returns but also has wider economic implications, including increased risk premiums, firm value instability, and diminished effectiveness of equity-based incentives. To address such challenges, a strong regulatory framework is essential. This study explores the legal and regulatory responses to market volatility, focusing on the implications of share buybacks in light of Indonesia’s free float requirements, and the recent enactment of Financial Services Authority Regulation No. 13 of 2023 on Policies for Maintaining Performance and Stability of Capital Market Under Conditions of Fluctuations. By analyzing whether such regulation aligns with existing capital market regulations, particularly with regard to shareholding requirements and regulatory authority, aims to assess potential contradictions and provide recommendations to enhance regulatory coherence and maintain market stability during periods of market volatility.
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