Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)

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Effect of Dividends as Moderator on Trading Volume and Stock Prices in the Green Economy

Authors
Ade Asriani1, *, Syamsu Alam1
1Hasanuddin University, Makassar, Indonesia
*Corresponding author. Email: asriania23a@student.unhas.ac.id
Corresponding Author
Ade Asriani
Available Online 30 July 2025.
DOI
10.2991/978-94-6463-758-8_254How to use a DOI?
Keywords
Trading Volume; Stock Prices; Dividend
Abstract

This study aims to evaluate the performance of sustainable investments in the green economy sector, focusing on the paradoxical relationship between trading volume and stock prices, with dividends as a moderating variable. Using data from companies in the green economy sector listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023, the study employs a quantitative approach with explanatory research design. The results indicate that trading volume does not have a significant direct effect on stock prices (Sig. = 0.158). However, when dividends are included as a moderating variable, the relationship between trading volume and stock prices becomes significant (Sig. = 0.000). This suggests that while trading volume alone does not influence stock prices, the presence of dividends strengthens the impact of trading volume on stock price movements. Dividends serve as a positive signal to investors, indicating financial stability and promising future prospects, which enhances investor confidence, particularly in the green economy sector, where sustainability is a key factor. These findings contribute to the literature on sustainable finance by providing new insights into how financial policies such as dividends interact with market behavior in sectors focused on environmental sustainability.

Copyright
© 2025 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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Volume Title
Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
30 July 2025
ISBN
978-94-6463-758-8
ISSN
2352-5428
DOI
10.2991/978-94-6463-758-8_254How to use a DOI?
Copyright
© 2025 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.

Cite this article

risenwbib
TY  - CONF
AU  - Ade Asriani
AU  - Syamsu Alam
PY  - 2025
DA  - 2025/07/30
TI  - Effect of Dividends as Moderator on Trading Volume and Stock Prices in the Green Economy
BT  - Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
PB  - Atlantis Press
SP  - 3072
EP  - 3077
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-758-8_254
DO  - 10.2991/978-94-6463-758-8_254
ID  - Asriani2025
ER  -