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PENGARUH SUKU BUNGA, INFLASI DAN PRODUK DOMESTIK BRUTO (PDB) TERHADAP RETURN SAHAM Devina Amallia; Kamaluddin Rahmat; Windi Ariesti Anggraeni
Jurnal Trial Balance Vol. 3 No. 2 (2025)
Publisher : ICMA Nasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61754/jutriance.v3i2.148

Abstract

The capital market in the macroeconomic context plays a strategic role in a country's economy, particularly in raising funds and managing the optimal utilization of economic resources. Investors are required to have the ability to project future capital market conditions as a basis for making sound investment decisions. This study aims to analyze the influence of interest rates, inflation, and Gross Domestic Product (GDP) on stock returns. The population of this study includes companies listed in the IDX High Dividend 20 index on the Indonesia Stock Exchange (IDX), with a sample selected using purposive sampling, resulting in a total of 55 companies. This research employs a descriptive-verificative method with a quantitative approach. The results showed that interest rates, and inflation partially affect stock returns. GDP partially has no effect on stock returns. Interest rates, inflation and GDP simultaneously affect stock returns.
Carbon Emission Intensity, Good Corporate Governance, and Corporate Sustainability: Implications for Low-Carbon Regional Development Romdhon, Mochamad; Fadilah, Resmi Afifah; Anggraeni, Windi Ariesti; Kartiko, Erik
PANGRIPTA Vol. 9 No. 1 (2026): Pangripta Jurnal Ilmiah Kajian Perencanaan Pembangunan
Publisher : Badan Perencanaan Pembangunan Kota Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58411/dhv83n69

Abstract

Low-carbon regional development requires reliable environmental information and effective governance mechanisms, particularly in carbon-intensive sectors. This study examines the relationship between Carbon Emission Intensity and Corporate Sustainability and investigates the moderating role of Good Corporate Governance (GCG) in Indonesia’s energy sector. Employing a quantitative explanatory approach, the study analyzes panel data from 29 energy-sector companies listed on the Indonesia Stock Exchange during 2021–2023 using panel-data regression. Carbon Emission Intensity represents firm-level carbon performance, while Good Corporate Governance reflects organizational oversight capacity. The results indicate that Carbon Emission Intensity is negatively associated with Corporate Sustainability at the 10% significance level. The positive interaction coefficient further suggests that Good Corporate Governance mitigates the adverse relationship between Carbon Emission Intensity and Corporate Sustainability, although the empirical evidence remains moderate rather than conclusive. This study contributes to the environmental accounting literature by integrating carbon-performance measurement, governance oversight, and Corporate Sustainability within a single empirical framework. From a policy perspective, firm-level carbon and governance information can complement regional emissions monitoring, green public procurement, investment screening, and low-carbon development planning. The findings provide an empirical foundation for strengthening the integration of corporate environmental accountability into regional low-carbon development strategies.