Coal Price and Profitability: Evidence of Coal Mining Companies in Indonesia

Endri Endri, Andyan Pradipta Utama, Aminudin Aminudin, Maya Syafriana Effendi, Bambang Santoso and Achmad Bahiramsyah
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Endri Endri: Universitas Mercu Buana, Jakarta, Indonesia
Andyan Pradipta Utama: Universitas Mercu Buana, Jakarta, Indonesia
Aminudin Aminudin: Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta, Indonesia
Maya Syafriana Effendi: Universitas Persada Indonesia Y.A.I, Jakarta, Indonesia,
Bambang Santoso: Politeknik Krakatau, Banten, Indonesia,
Achmad Bahiramsyah: Direktorak Jenderal Pajak, Kementerian Keuangan Republik, Indonesia

International Journal of Energy Economics and Policy, 2021, vol. 11, issue 5, 363-368

Abstract: The study examines the influence of certain industrial factors, namely the reference price for Indonesian coal (HBA), and internal factors, namely; debt to equity ratio (DER), growth, current asset (CR), and company size (size) to profitability (ROA) of coal companies Indonesia during 2015-2019. The study population was all coal companies listed on the IDX before 2015. By using a purposive sampling technique, 13 companies were obtained. The research variable data was estimated using the Panel data method. The results show that DER adversely affects ROA, and company growth is in line with the increase in ROA. HBA and CR variables do not affect ROA. The implication of the research results is to increase profitability, the company to increase sales through business diversification other than coal products, and reduce the total debt held so that it does not become a heavy payment burden.

Keywords: Coal Price; Profitability; Coal Mining Companies; Indonesia (search for similar items in EconPapers)
JEL-codes: G11 G30 G32 Q31 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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