Reaksi pasar terhadap pengumuman Indonesia sustainability reporting award : Event study untuk perusahaan tahun 2005 - 2007

Deskripsi

The focus of this study is to see market reactions to a CSR (Corporate Social Responsibility) event, ISRA (Indonesia Sustainability Reporting Award) announcement. To see market reactions, the researcher compares the abnormal return of companies who are ISRA winners with the abnormal return of companies who are not ISRA winner. This study uses event study method, with event window from 15 days before until 15 days after ISRA announcement. The result of this study shows that there are significant differences between the abnormal return of companies who are ISRA winners and companies who are not ISRA winner. It means that market reacts to ISRA announcement. The study also proves that the status of the company, ISRA winner or not, doesn?t have a significant influence to the abnormal return.Ada tabel