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All Journal Inkubis: Jurnal Ekonomi dan Bisnis Jurnal Mahasiswa Agribisnis
Irshad Ahmad Reshi
Annamalai University
Agriculture, Biological Sciences & Forestry Economics, Econometrics & Finance

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Implementation of Carbon Emission Disclosure on Market Reaction with Green Investment as a Mediating Variable in Companies Listed on the Indonesian Carbon Exchange (IDX Carbon) Rico Nur Ilham; Muammar Khaddafi; Mangasi Sinurat; Irada Sinta; Irshad Ahmad Reshi
Inkubis : Jurnal Ekonomi dan Bisnis Vol. 7 No. 2 (2025): INKUBIS Jurnal Ekonomi Dan Bisnis
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/inkubis.v7i2.128

Abstract

Background: The Indonesian Carbon Exchange (IDX Carbon) has emerged as a critical mechanism for carbon trading, introducing carbon units as securities rather than commodities. Despite this development, challenges remain in ensuring the integrity of carbon markets, including issues of double counting, manipulation of carbon unit measurements, and regulatory gaps. Objective: This study aims to examine the implementation of Carbon Emission Disclosure on Market Reaction with Green Investment as a mediating variable in companies listed on IDX Carbon. Methods: This study employed a quantitative research approach using SmartPLS with PLS-SEM. Hypothesis testing applied a t-statistic threshold of 1.96 and a significance level of α = 5% (p-value < 0.05). Results: All variables had Cronbach's Alpha values above 0.95 and AVE values above 0.66, indicating high reliability and validity. The R² value of Green Investment (Z) was 0.983 and Market Reaction (Y) was 0.925, indicating strong predictive relevance. Hypothesis testing revealed: (1) Green Investment significantly affects Market Reaction (t = 9.422, p = 0.000); (2) Carbon Emission Disclosure significantly affects Green Investment (t = 6.017, p = 0.000); (3) Carbon Emission Disclosure significantly affects Market Reaction (t = 2.655, p = 0.000); and (4) Carbon Emission Disclosure significantly affects Market Reaction through Green Investment as a mediating variable (t = 8.672, p = 0.000). All four hypotheses were accepted. Conclusion: Carbon Emission Disclosure has a significant direct effect on both Green Investment and Market Reaction in IDX Carbon-listed companies. Green Investment also serves as a significant mediating variable between Carbon Emission Disclosure and Market Reaction, highlighting the importance of transparent carbon emission reporting in supporting sustainable finance in Indonesia.
ANALISIS KELAYAKAN DAN SENSITIVITAS USAHA BOLU IKAN ACEH ZAHRA DI DESA BUKIT TEMPURUNG KECAMATAN KUALASIMPANG KABUPATEN ACEH TAMIANG Adek Aemira; Adhiana; Sakral Hasby Puarada; Irshad Ahmad Reshi
Jurnal Mahasiswa Agribisnis Vol. 4 No. 1 (2025): July
Publisher : LPPM Universitas Malikussaleh - Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29103/jma.v4i1.21020

Abstract

This research was conducted in Bukit Tempurung Village, Kualasimpang District, Aceh Tamiang Regency. The purpose of the research was to analyze the feasibility and sensitivity of the Aceh Zahra fish cake business. The data analyze method used was descriptve qualitative and quantitative analyze. The results of this study indicate that the Aceh Zahra fish cake business in Bukit Tempurung village, Kualasimpang District, Aceh Tamiang Regency is feasible to continue. This is seen the legal aspect, market and marketing aspect, technical and technological aspect, organizational management aspect, environmental impact aspect and financial aspect. From the financial aspect, it is seen from the acquisition of NPV (Rp.868.175.300), Net B/C (8,349), IRR (191%), and BEP achieved in the 3rd year, 2st month, 8th day. Meanwhile, in the sensitivity analysis, if the price of garanulated sugar ang eggs increases by 10% with the selling price of fish cake remainingthe same, the NPV obtained is (Rp.788.196.456), Net B/C (7,672), IRR (175%), and BEP achieved in the 3rd year, 4rd month, 9th day. Keywords: Business Feasibility, Cake Business, BEP, IRR, Net B/C, NPV dan Sensitivity Analysis
Co-Authors Adek Aemira Adhiana, Adhiana Irada Sinta Mangasi Sinurat Muammar Khaddafi Rico Nur Ilham Sakral Hasby Puarada