The Influence Volatility, Profitability, Carbon Intensity on Stock Returns in Mining Companies 2021-2023

Abstract

This study analyzes the effect of stock price volatility, profitability, and carbon intensity on the stock returns of Indonesian mining companies in 2021–2023 using quantitative methods. Secondary data from financial reports and stock trading at the IDX, this study took a sample of 15 companies with purposive sampling. The regression results show while stock volatility has a negative but insignificant impact (coefficient 0.002 with significance 0.845 (>0.05)) profitability has a positive and significant effect on stock returns (coefficient 1.712 with significance 0.009 (<0.05), Meanwhile, carbon intensity measured through carbon emission disclosure also has no significant effect (coefficient -1.290 with significance 0.499 (>0.05),). In conclusion, profitability is the main factor that increases the attractiveness of stocks, while volatility and carbon emissions have not had a significant impact. The implications of this study emphasize the importance of good financial performance and increased environmental awareness for the sustainability of the mining sector.