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October 16, 2025Majapahit Journal of Islamic Finance and ManagementOpen Access

Market Reaction to the Announcement of the Launch of International Carbon Trading in Companies Indexed by IDXESG Leaders on the Indonesia Stock Exchange

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Authors

AHAldiyanto HasengState University of GorontaloSSSelvi SelviState University of GorontaloDHDewi Indrayani HaminState University of Gorontalo

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Overview

Event study reveals mixed reactions from IDXESG Leaders listed firms, suggesting positive sentiment overall.

Key Points

  • The launch of international carbon trading did not show a significant difference in abnormal return.
  • The paired sample t-test revealed no major financial impact from the launch event.
  • Wilcoxon signed rank test indicated a positive market reaction, suggesting favorable news.
  • Findings were based on analysis of secondary data from 30 companies listed in IDXESG Leaders.

Cite This Study

Haseng et al. (2025) studied this question.

synapsesocial.com/papers/68f04acce559138a1a06e76ehttps://doi.org/10.31538/mjifm.v5i4.601
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