Proceedings of the 17 Th International Symposium on Management (INSYMA 2020) 2020
DOI: 10.2991/aebmr.k.200127.011
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Stock Return Movement in Indonesia Mining Companies

Abstract: This research empirically analyzes and examines the influence of environmental performance and environmental disclosure on stock return. The environmental performance variable was measured based on PROP-ER (government ranks), and the environmental disclosure was assessed using index. The stock return variable was reflected by cumulative abnormal return. The samples used in this research were 41 companies with the observing year of 2015-2017; thus, the total samples were 123. The data was analyzed using Statist… Show more

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Cited by 1 publication
(4 citation statements)
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“…The financial consequences of environmental sustainability disclosure on stock return behavior have not been sufficiently addressed in previous literature. Moreover, the results of a number of earlier studies (e.g., Brammer et al 2006;Halbritter and Dorfleitner 2015;Tasnia et al 2020;Indriastuti and Najihah 2020) are inconclusive and equivocal as well as did not provide clear conclusion whether the stock return is valued or devalued by environmental disclosure. Thus, our study fills these gaps in previous literature by providing new evidence concerning whether environmental sustainability disclosure is valued or overlooked in financial markets.…”
Section: Introductionmentioning
confidence: 94%
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“…The financial consequences of environmental sustainability disclosure on stock return behavior have not been sufficiently addressed in previous literature. Moreover, the results of a number of earlier studies (e.g., Brammer et al 2006;Halbritter and Dorfleitner 2015;Tasnia et al 2020;Indriastuti and Najihah 2020) are inconclusive and equivocal as well as did not provide clear conclusion whether the stock return is valued or devalued by environmental disclosure. Thus, our study fills these gaps in previous literature by providing new evidence concerning whether environmental sustainability disclosure is valued or overlooked in financial markets.…”
Section: Introductionmentioning
confidence: 94%
“…Recently, the literature on ESG factors have concentrated on a more identified perception like the association between ESG and stock price (La Torre et al 2020). Indriastuti and Najihah (2020) report that the stock return is positively related with the environmental performance indicating that investors react more positively to these firms with higher environmental disclosure. In the same vein, Eccles et al (2014) find that firms with better ESG have annual abnormal returns of up to 4.8%.…”
Section: Direct Relationship Between Environmental Sustainability Repmentioning
confidence: 99%
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