The Indonesian Capital Market Review (p-ISSN: 1979-8997; e-ISSN: 2356-3818) aims to discuss, explore, and disseminate the latest issues and developments in empirical financial economics (JEL classification: G), particularly those related to financial frictions both in developed and emerging markets.
The topics covered include, but are not limited to, capital markets, financial institutions and services, corporate finance, risk modeling and management, and market microstructure in financial markets. We also welcome more recent topics in finance, such as sustainable finance, green finance and banking, and digital finance.
ICMR has been indexed in EBSCOhost (since 2013), DOAJ (since 2015), CrossRef (since 2016), and ESCI. The journal is nationally accredited SINTA 3 by the Ministry of Higher Education, Science, and Technology of Indonesia (updated based on the latest accreditation results in 2026).
Current Issue: Volume 18, Number 1 (2026) January
Articles
Stock Market Reactions to Interest Rate Changes: Evidence from Emerging Markets
Binali Selman EREN
https://doi.org/10.7454/icmr.v18i1.1275
The Impact of Shariah Law, Liquidity and Interest Rate on Sukuk Growth in Malaysia in Short and Long run: The ARDL Estimation
Dheya Hamood Saif Al-Fakih, Shahsuzan Zakaria, and Md Khairu Amin Ismail
https://doi.org/10.7454/icmr.v18i1.1242
Awareness and Decision-Making in Cryptocurrency Investment Among Students in Guwahati: A Comprehensive Study
Rituparna Roy Dr, Anupam Chanda Dr, and Bidangsha Basumatary
https://doi.org/10.7454/icmr.v18i1.1195
Identifying Risk-Free Asset Proxies in Companies Listed on the Indonesia Stock Exchange from 2017 to 2023 Using the Zero-Beta Capital Asset Pricing Model
Fajri Alan Ghazali Mr. and Lenny Suardi Mrs.
https://doi.org/10.7454/icmr.v18i1.1280
Escaping the Crash? The Protective Power of Liquidity in the Pakistan Stock Market
Sana Saleem, Muhammad Usman, and Amna Rafique
https://doi.org/10.7454/icmr.v18i1.1265
Green Credit, Climate Risk, and Credit Risk in the Indonesian Banking Industry
Titi Dewi Warninda and Shelby Devianty Widodo
https://doi.org/10.7454/icmr.v18i1.1284










