Macroeconomic Factors, Energy Consumption and Firms Performance on Stock Return of Mining and Energy Sector: Evidence From Indonesia

Elfiswandi Elfiswandi, Sigit Sanjaya, Nila Pratiwi, Yosi Yulia and Muhammad Fikri Ramadhan
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Elfiswandi Elfiswandi: Department of Economic and Business, Universitas Putra Indonesia YPTK, Padang, Indonesia.
Sigit Sanjaya: Department of Economic and Business, Universitas Putra Indonesia YPTK, Padang, Indonesia.
Nila Pratiwi: Department of Economic and Business, Universitas Putra Indonesia YPTK, Padang, Indonesia.
Yosi Yulia: Department of Economic and Business, Universitas Putra Indonesia YPTK, Padang, Indonesia.
Muhammad Fikri Ramadhan: Department of Economic and Business, Universitas Putra Indonesia YPTK, Padang, Indonesia.

International Journal of Energy Economics and Policy, 2020, vol. 10, issue 6, 229-234

Abstract: The research aims to discover the effect of macroeconomic factors, energy consumption and fundamental analysis on stock return of mining and energy sector companies listed on Indonesia Stock Exchange (IDX) during 2014-2018 period. The population in this study firms in the mining and energy sector. The total population is 43 firms. 37 firms were selected as samples A total of the population was determined as samples by purposive sampling method. The analytical method used panel data regression analysis by SPSS program. The result shows: 1) Inflation has a significant effect on stock return 2) Interest rate has a significant effect on stock return 3) exchange rate has a significant effect on stock return 4) energy consumption has a significant effect on stock return 5) current ratio has no significant effect on stock return 6) debt to equity ratio has a significant effect on stock return 7) return on equity has a significant effect on stock return 8) earning per share has a significant effect on stock return.

Keywords: Energy consumption; mining industry; energy sector (search for similar items in EconPapers)
JEL-codes: Q40 Q42 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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