Siti Munirah Mohd Nasir, Zamzana Zamzamir, Nor'ain Mohd Tajudin, Ruzlan Md. Ali, Masliza Siti Ramli, Endah Retnowati
This study aims to analyze the relationship between environmental performance and carbon emission disclosure to share returns. To test our hypotheses, we using 130 firm-year observations, manufacture listed firms in Indonesia Stock Exchange that included in PROPER assessment from 2013 to 2016. Ordinary least square regression result shows that environmental performance does not have a relationship to share return, while carbon emission disclosure has a positive relationship to share return. These results indicate that, in general, the market will respond to information as a particular signal toward an event that affects the firm's value, which reflected by the firm's share price. This study is crucial for the investor to consider non-financial factors such as corporate social responsibility disclosure and environmental performance in the context of select a proper investment. © 2021 RIGEO. All Rights Reserved.
Faculty of Science and Mathematics, Sultan Idris Education University, Tanjong Malim, Perak, 35900, Malaysia; UUM College of Arts and Sciences, Universiti Utara Malaysia, Sintok, 06010, Kedah, Malaysia; Sekolah Menengah Kebangsaan Ahmad Boestamam, Sitiawan, Perak, 32000, Malaysia; Department of Mathematics Education, Faculty of Mathematics and Science, Yogyakarta State University, Yogyakarta, Indonesia
