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September 10, 2025The International Journal of Financial Systems

Environmental, Social, and Governance (ESG) Risk towards Stock Market Reaction in Indonesia

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Authors

ASAlex Johanes Simamora

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Overview

Observational analysis finds ESG risk influences stock market reactions in Indonesia, suggesting effective ESG practices attract investors.

Key Points

  • ESG risk significantly affects stock market reactions, indicating its importance to investors.
  • Results show that lower ESG risk correlates with improved abnormal returns for companies.
  • Analysis utilized fixed-effect regression to understand the relationship between ESG risk and stock market reactions.
  • Findings emphasize the need for effective ESG implementation, especially in environments with lower information asymmetry.

Cite This Study

Alex Johanes Simamora (2025) studied this question.

synapsesocial.com/papers/68c1ac0154b1d3bfb60e4442https://doi.org/10.61459/ijfs.v3i1.45
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