INSIDER TRADING PASAR MODAL DAN DAMPAKNYA STUDI KASUS PT PERUSAHAAN GAS NEGARA Tbk (PGAS)

Abstract

Insider trading is an illegal practice in the capital market where individuals with access to non-public information conduct securities transactions for personal gain. This practice violates the principles of transparency and fairness in securities trading and is prohibited by Law No. 8 of 1995 on the Capital Market. This paper analyzes the concept of insider trading, its impact on market credibility, and a case study of PT Perusahaan Gas Negara Tbk (PGAS) involved in this practice. The analysis reveals that insider trading harms other investors, disrupts fair market mechanisms, and erodes public trust in the capital market. Therefore, stricter law enforcement, increased financial literacy, and regulatory harmonization are necessary to prevent insider trading.