Article Per Year (5 Year)
p-Index From 2019 - 2024
0.23
P-Index
This Author published in this journals
All Journal Journal of Applied Finance & Accounting
Helen Jayanti
Accounting Department, School of Accounting, Bina Nusantara University, Jakarta, Indonesia, 11480
Economics, Econometrics & Finance

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
EXTERNAL PARTY RECOGNITION ON ESG DISCLOSURE TO STOCK PRICE: A CASE STUDY OF ESG DISCLOSURE AWARDS IN INDONESIAN STOCK EXCHANGE Dwi Octavia; Helen Jayanti; Jayson Gautama Lee; Richard Arlie; Lindrianasari
Journal of Applied Finance and Accounting Vol. 10 No. 1 (2023): Publish on June 2023
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/jafa.v10i1.9970

Abstract

This research aims to find further empirical evidence of the connection of environmental disclosure with share price. We took into consideration potential investor doubt on company ESG disclosure. This research aims to find further empirical evidence of the connection of environmental disclosure with the share price. We considered potential investor doubt on company ESG disclosure because of potentially biased reporting from management predicted by agency theory and attempted to study the effects when this doubt is removed by external recognition of the company's ESG disclosures. Abnormal returns of companies are tracked using daily closing price data from Bloomberg, and further testing is done using the binomial distribution. Our study has found that companies that obtain external recognition experience an increase in abnormal returns after the award announcement date. This finding implies that external parties' recognition of the company's environmental performance will obtain positive market sentiment and is indicated by increased stock returns.
Co-Authors Dwi Octavia Jayson Gautama Lee Lindrianasari Richard Arlie