Difference in Stock Prices Before and After The Inaugurations of the Indonesia Carbon Exchange

DOI

10.2991/978-94-6463-990-2_2How to use a DOI?

Keywords

Indonesian carbon exchange; average abnormal return; average trading volume; average security return variability

Abstract

This study looks at how the market reacted to the start of the Indonesia Carbon Exchange (ICX), especially in the energy sector of Indonesia. To measure these reactions, three things were checked: Average Abnormal Return (AAR), Average Trading Volume Activity (ATVA), and Average Security Return Variability (ASRV). The study used a quantitative method, looking at 64 companies over a 10-day period before and after the ICX began. The results found that there was a big difference in AAR before and after the ICX started, with a very low significance value of 0. 000. However, there was no big change in ATVA or ASRV. This suggests that the market reacts more to changes in returns than to trading volume or volatility when it comes to environmental policies.

Copyright

© 2026 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Umi Marwati
AU  - Arif Darmawan
PY  - 2026
DA  - 2026/02/13
TI  - Difference in Stock Prices Before and After The Inaugurations of the Indonesia Carbon Exchange
BT  - Proceedings of the 7th International Conference on Applied Economics and Social Science (ICAESS 2025)
PB  - Atlantis Press
SP  - 3
EP  - 20
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-990-2_2
DO  - 10.2991/978-94-6463-990-2_2
ID  - Marwati2026
ER  -