Market Reactions About the Company Performance Assessment Program in Environmental Management

The company in its existence is not only profit oriented but also needs to pay attention to the welfare of the community and its environment. The Government, through the Ministry of Environment, is realizing a Corporate Performance Assessment Program in Environmental Management (PROPER). The purpose of this study is to obtain empirical evidence about the market reaction as indicated by the abnormal return around the PROPER award announcement date. The population in this study are all public companies that received awards listed on the IDX. There were 49 companies out of 54 companies which were then selected as samples using a non-probability method with a purposive sampling technique. The data analysis technique used is the difference test of one sample t-test