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Oil Price and Stock Return: Evidence of Mining Companies in Indonesia

Endri Endri, Muhamad Rinaldi, Dini Arifian, Bungaran Saing and Aminudin Aminudin
Additional contact information
Endri Endri: Universitas Mercu Buana, Jakarta, Indonesia,
Muhamad Rinaldi: Universitas Mercu Buana, Jakarta, Indonesia,
Dini Arifian: STIE La Tansa Mashiro, Lebak, Banten, Indonesia
Bungaran Saing: Universitas Bhayangkara Jakarta Raya, Indonesia,
Aminudin Aminudin: Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta, Indonesia.

International Journal of Energy Economics and Policy, 2021, vol. 11, issue 2, 110-114

Abstract: This research aims to analyze the determinants of stock return disclosure of mining sector companies listed on the Indonesia Stock Exchange in 2014-2018. The research adopted the Eviews program in data processing and Random effect regression model was chosen to test the relationship between internal and external indicators as independent variables include return on asset (ROA), debt to equity ratio (DER), total asset turnover (TATO), oil price and exchange rate. The result shows that return on assets and debt to equity ratio have no effect on stock return. Total asset turnover and exchange rate have negative and significant effect on stock return, while Oil price have positif and significant effect on stock return.

Keywords: Stock Return; Return on Assets; Debt to Equity Ratio; Total Asset Turnover; Oil Price; Exchange Rate. (search for similar items in EconPapers)
JEL-codes: E22 E44 G11 (search for similar items in EconPapers)
Date: 2021
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