GRI Standars Based Corporate Social Responsibility Disclosure Toward Market Reaction In Energy Companies Listed in Indonesia Stock Exchange

Abstract

This study aims to analyze of the implementation Corporate Social Responsibility (CSR) disclosure on market reaction to energy companies listed on the Indonesia Stock Exchange. This is based on environmental issues that are growing, especially in energy companies in Indonesia, the development of previous research, and the effective implementation of the Global Reporting Initiative that uses the 2016 GRI standard which was approved in 2016 by the Global Sustainability Standards Board (GASB). The way to measure CSR disclosure is by using GRI-based CSR index 2016 while the market reaction is measured by using Cumulative Abnormal Return (CAR). This research focuses on energy companies that are growing rapidly in Indonesia. In addition, that energy companies are companies that fall into the category of companies high-profile.companies High-profile are companies which were highlighted by the public for the actions on the environment