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All Journal qolamuna : Jurnal studi islam Jurnal Kajian Islam dan Sosial Keagamaan Adpertens ; Jurnal Ekonomi dan Manjemen Amsal Al-Qur’an: Jurnal Al-Qur’an dan Hadis I’tiqadiah: Jurnal Hukum dan Ilmu-ilmu Kesyariahan Journal of Religion and Social Community
Ahmad Mu’is
Unknown Affiliation
Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Materials Science & Nanotechnology Physics Social Sciences

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Journal : Adpertens

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GREEN SUKUK KONTRIBUSI BAGI INVESTOR DAN PERUSAHAN PEMBANGUNAN BERKELANJUTAN MENUJU EKONOMI HIJAU Ahmad Mu’is; Nasruddin Khalil Harahap; Misbah Mrd
Adpertens: Jurnal Ekonomi dan Manajemen Vol. 2 No. 2 (2025): Juni : Adpertens
Publisher : Yayasan Baitul Hikmah al-Zain

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63424/adpertens.v2i2.316

Abstract

This study evaluates whether investors are benefited by green sukuk by examining the stock return response to corporate green sukuk issuance announcements. Applying standard event study methodology, it is found that stock returns respond positively and significantly to green sukuk issuance announcements, indicating that investors perceive and react positively to the announcements. This significant positive response is observed both for individual firms (through CAR) and for the sample of all firms (through CAAR). Thus, it can be concluded that investors benefit from green sukuk issuance announcements. This study draws a comparative analysis of investor responses to corporate green sukuk and corporate green bond issuance announcements, and the findings also show that investors respond positively to green bond issuance announcements. However, investor responses are slightly higher to corporate green sukuk issuance announcements compared to corporate green bonds, and investors gain slightly more benefits from green sukuk issuance compared to green bond issuance. These findings inform policymakers for the formulation of strategies to attract investors by integrating green bonds with sharia principles to fund environmentally friendly projects and consequently reduce climate change risks.
Co-Authors Annisa Prima Ardi Putra Burhanuddin Noer Aulia Rahmadina Briyan Pratama, Ahmad Chusnul Chotimah, R.A. Meidi Dewi Pratiwi Faizza Al-Fathi Muslimah Hendri Handiyan Hosnul Khotimatul Azizah Ina Nugraheni Irfiqna Dinana Laylatul Mustafidah Misbah Mrd Muhammad Hasyim Mahfudz Nasruddin Khalil Harahap Nurlita Ayuni Oktavia Bulan Dwi Sabrina Rohit Kurniawan Selli Mariyana Hasibuan Sholihul Anas Hanafi Zaianal Efendi Hasibuan