This event study investigates the Indonesian capital market reaction to the announcement of cabinet reshuffle as a major political event in Indonesia. We also detect the possibility of size effect anomaly related to this political event. Consequently. we not only study 43 large-capitalization firms that are classified into LQ 45 index but also 26 small-capitalization shares. https://macorners.shop/product-category/graduation-cap-pendant-necklace-with-birthstone/