THE INFLUENCE OF CORPORATE ENVIRONMENTAL RESPONSIBILITY (CER) DISCLOSURE TOWARD STOCK PRICE CHANGES

The purpose of this study was to determine the effect of corporate environmental responsibility (CER) disclosure to the changes in stock price. This research was conducted at mining companies listed in Indonesia Stock Exchange from 2006'2008 which published annual andlor sustainability report during the study period. This study used content analysis model based on Global Reporting Initiatives (GRI) G3 guideline to measure the CER disclosure and closing price at the end of month to see the changes in stock price. The result shows that t count - 0.308 is lower than t table (toos,r:) 1.771 and significance value 0.763 is bigger than o: 0.05 means that the disclosure of CER have negative and not significance relationship toward stock price changes