Energy Price and Stock Return: Evidence of Energy Sector Companies in Indonesia

Pande Ketut Rheynaldi, Endri Endri, Minanari Minanari, Putri Andari Ferranti and Subur Karyatun
Additional contact information
Pande Ketut Rheynaldi: Universitas Mercu Buana, Jakarta, Indonesia,
Endri Endri: Universitas Mercu Buana, Jakarta, Indonesia,
Minanari Minanari: Universitas Mercu Buana, Jakarta, Indonesia,
Putri Andari Ferranti: Universitas Mercu Buana, Jakarta, Indonesia,
Subur Karyatun: Universitas Nasional, Jakarta, Indonesia.

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 5, 31-36

Abstract: This research aims to analyze the effect of the exchange rates, interest rates, oil prices, coal prices, debt-to-equity ratio, return on asset, and firm size on the dependent variable stock returns in energy sector companies listed on the Indonesia Stock Exchange in 2017 to 2021. The analysis technique in this study was carried out using a panel data regression test with the Eviews10 program. The results of this study indicate that the variables coal price, debt-to-equity ratio, and firm size have no effect on stock returns, while oil prices and return on assets have a positive impact on stock returns. On the other hand, exchange rates and interest rates have a negative effect on stock returns.

Keywords: Stock Return; Energy Price; Energy Sector Company; Indonesia (search for similar items in EconPapers)
JEL-codes: E22 E44 G11 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/14544/7444 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/14544 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2023-05-5

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().