Impact of Oil Prices and Stock Returns: Evidence of Oil and Gas Mining Companies in Indonesia During the Covid-19 Period

Abstract

This study points to analyze the determinants of stock return revelation in oil and gas mining division companies recorded on the Indonesia Stock Trade-in 2019-2021 amid the Covid 19 emergency. The think about utilized the Eviews Program as information preparing and the irregular impact relapse show was chosen to look at the relationship between outside and inside markers as autonomous factors counting Current Ratio (CR), debt to equity ratio (DER), total asset turnover (TATO), return on assets (ROA), oil price (WTI), an exchange rate (FOREX), institutional ownership (IO). The comes about appeared that the current proportion, obligation to value ratio, and add up to resource turnover did not influence stock returns. Return on resources, exchange rates, and institutional ownership has a negative and significant impact on stock returns, while oil prices have a positive and widespread effect on stock returns.

The effects of COVID-19 on the interrelationship among oil prices, stock prices and exchange rates in selected oil exporting economies

“…Conversely, other studies such as Suripto et al (2021) find negative relationship between oil exchange rate and stock price returns, but oil prices have positive effect on stock price returns in the case of Indonesia. Also, Akhtaruzzaman et al (2021) find that volatility in oil market was beneficial to oil supply industries but detrimental to the financial and oil consumer industries.…”

Impact of Green Innovation, Cultural Environment, Company Performance During Covid-19

“…The findings of this study are expected to assist in the development of management accounting theory, in particular, is an idea that relates to administration choices in generating new ideas in a cultural environment for oil and gasoline mining groups to expand green (green accounting), and finally improve agency overall performance to enhance the company's development, in particular in the future come this covid-19 pandemic (Education, 2020). Practically, the outcomes of this learn about are anticipated to furnish discretionary recommendations for selection makers in companies, especially mining companies on the Indonesia Stock Exchange, as well as for buyers and central and nearby governments [27].…”

Governance Implementation on Financial Performance

“…As a result, the presence of neutral commissioners is expected to improve the company's financial success. (Habbash, et al 2014;Kantudu and Samaila 2015;Ado, et al 2017); (Zhou & Huang, 2016); (Sabur et al, 2012); (Rakesh & Sheeba, 2017); (Gunarto et al, 2020), (Supriyanto et al, 2021).…”