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

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Systematic Literature Review on Green Bonds Role in Enchancing Share Value in Indonesian Capital Market

Authors
Rahmat Hidayat Rfai1, *, Mursalim Nohong1
1Magister Management, Faculty of Economics and Business, Hasanuddin University, Makassar, Indonesia
*Corresponding author. Email: rifairh23a@student.unhas.ac.id
Corresponding Author
Rahmat Hidayat Rfai
Available Online 30 July 2025.
DOI
10.2991/978-94-6463-758-8_160How to use a DOI?
Keywords
Green Bonds; Stock Value; Indonesian Capital Market; Sustainable Investment; ESG
Abstract

This study was conducted with the aim of determining the relation- ship between the issuance of green bonds and the increase in the value of com- pany shares in the Indonesian capital market. Using a systematic literature re- view approach, this study collects and compiles various literatures that discuss the relationship between green bonds and company share performance. Inclu- sion criteria include articles published between 2013 and 2023 in peer-reviewed journals and reports from financial institutions. Data sources were obtained from various academic databases such as Google Scholar, ScienceDirect, ProQuest and JSTOR using keywords such as “green bond”, “fair value” and “Indonesia capital market”. The results of this study indicate that the issuance of green bonds has a positive effect on the company’s stock price, mainly due to the high interest of investors in sustainability-related investment (ESG).. How- ever, there are challenges such as low market liquidity and the risk of green- washing that need to be considered. The green bond market in Indonesia is still in its early stages of development, but has great potential if the right regulations and policies are implemented. In conclusion, green bonds can be a useful tool in increasing share value, but their implementation requires high transparency. This study provides a foundation for further research on green bonds in emerg- ing markets.

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_160How 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  - Rahmat Hidayat Rfai
AU  - Mursalim Nohong
PY  - 2025
DA  - 2025/07/30
TI  - Systematic Literature Review on Green Bonds Role in Enchancing Share Value in Indonesian Capital Market
BT  - Proceedings of the 9th International Conference on Accounting, Management, and Economics 2024 (ICAME 2024)
PB  - Atlantis Press
SP  - 1992
EP  - 2009
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-758-8_160
DO  - 10.2991/978-94-6463-758-8_160
ID  - Rfai2025
ER  -