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Journal : Majapahit Journal of Islamic Finance dan Management

Market Reaction to the Announcement of the Launch of International Carbon Trading in Companies Indexed by IDXESG Leaders on the Indonesia Stock Exchange Haseng, Aldiyanto; Selvi, Selvi; Hamin, Dewi Indrayani
Majapahit Journal of Islamic Finance and Management Vol. 5 No. 4 (2025): Islamic Finance and Management
Publisher : Department of Sharia Economics Institut Pesantren KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v5i4.601

Abstract

This study aims to identify the market reaction triggered by the information contained in the event of the launch of international carbon trading by IDXCarbon, particularly for companies listed in the IDXESG Leaders index on the Indonesia Stock Exchange. The data used in this study are secondary data obtained through the documentation method of individual historical stock prices. The sample consists of 30 companies indexed in IDXESG Leaders. The method used is an event study with abnormal return analysis, followed by a paired sample t-test and Wilcoxon signed rank test using SPSS 25. Based on the result, the paired sample t-test shows that the launch of international carbon trading by IDXCarbon does not indicate a significant difference in abnormal return before and after the event. However, the Wilcoxon signed rank test shows a dominance of positive reactions, indicating that the event carries favorable information (good news).
Co-Authors Abd. Rahman Pakaya Abdul Rahman Pakaya Agustin, Viona Ahmad, Aisyah Noor Amdin, Sitti Rahmiani Amelia Amelia Andy Andy Anjas, Hesti Wahyuni Anu, Dea Angraini Aparianto, Aparianto Apriliani, Ribka Aritonang, Jonsfir Daus Asma Asma Asnawi, Melan Angriani Audita Nuvriasari Aurelia, Cahaya Aurelia, Clara Awan Santoso, Awan Boby Rantow Payu Chen Chongjie Chintaury, Elva Puja Christina Christina Derrick, Lionel Dewi Indrayani Hamin Dewi, Anita Candra Dungga, Meriyana Fransisca Emaliah, Emaliah Erdiyanti Erdiyanti, Erdiyanti Erwina Oktavianty Fadil Iskandar, Fadil Faiza Husnayeni Nahar Hais Dama Harming, Harming Hartini Haseng, Aldiyanto Hasni Hasni Hasriani Hasriani, Hasriani Imran, Muthi’ah Fathinah Irawati Abdul Irmawati Irmawati Irwan Yantu Jesslyn, Jesslyn Joycelyn, Joycelyn Julyance, Zoey Kadir, Risnawaty Lanto Miriatin Amali Lestari Ningrum, Lestari Lestari, Sri Indah Lim, Vincent Maesiwi, Purwastuti Mendo, Andi Yuniar Mohamad Agus Salim Monoarfa Mokoagow, Rezza Muhammad Aswar Limi Muhammad Syukri Munirwan Zani, Munirwan Murad, Moh. Fahriezal Mustaqima, Mustaqima Ningsih, Nisa Kartika Novianto, Chiko Nurfauzan, Malik oktarina, selfi Paerin, Paerin Paisal, Moh. Pakaya, Naista Larasati Purwaningtias, Agitta Sofyan Putri, Dwi Utami Putri, Ika Wahyuni Putri, Siska Anjeli Rachman Saleh Raflin Hinelo Rahmah Rahmah Rahmi, Notika Reynaldo Reynaldo, Reynaldo Riani Riani, Riani Rinoa, Livvy Risman, Kadar Rizan Machmud Rosdiana, Dika Rose, Felicia Diana Saiful Anwar Saleh, Rachman Salfarilla, Salsa Elsi Sanjaya, Enrico Sayuti, Sri Novita Siska Handayani Sitorus, Elisabet Solly Aryza Srie Isnawaty Pakaya Suardi Laheng, Suardi Sulastri Sulastri Suparto Darudiato Syaiful B Arsyid Tirtaningrum, Catur Wahyu Ubaidillah Ubaidillah Umin Kango Utina, Uun Vika Bregas Mariza Wahyuningtias, Putri Ayu Win, Thinzar Winarsih, Ririn Yulia Yusrin S. Hasan