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

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.

Determinants of Company Value (PBV) And Their Impact on Share Returns: A Case Study of Stock Price Index in Mining Companies Listed on the Indonesia Stock Exchange (IDX) 2017–2020

“…This proves that the company's ability to manage their current assets is not going well, so that many current assets are not optimal utilized by the company which results in a decrease in investor interest in investing their capital. The results of this study are consistent with previous research from Nugroho (2013), Salim and Santosyah (2020), Anggraeni and Salim (2019) and Elfiswandi et al (2020) which said that the current ratio had no significant effect on stock returns.…”

“…3) The company's ability to manage debt effectively and efficiently compared to the value of its assets will have an impact on the decision of the owners of capital to invest. (Antara, 2012) (-) (Azis et al, 2018) No No No (+) (Bahraini et al, 2021) (-) (+) (-) (Budiharjo, 2015) (+) (Bustani et al, 2021) (+) (Daniswara & Daryanto, 2019) (+) (Djamaluddin et al, 2018) (+) (+) (Elfiswandi et al, 2020) No (+) (Firdaus, 2020) (-) (+) (Hasangapon et al, 2021) (+) (Jang & Utomo, 2021) (+) (Kahfi et al, 2018) (+) (-) (+) (Kuswanto & Taufiq, 2015) (+) (Lumoly et al, 2018) (+) (Majid & Benazir, 2016) (-) (Malebana, 2019) (+) (Manik, 2017) (-) (+) (Murni et al, 2019) (-) (Najmiyah et al, 2014) No No (Nguyen et al, 2021) (-) (Nugroho, 2013) No No No (Nurhasanah, 2013) (+) (Purnamaningsih & Wirawati, 2014) (+) (Putra & Lestari, 2016) (+) (Salim & Firdaus, 2020) (Sausan et al, 2020) (+) (+) (Sinaga, 2014) No (Verawaty et al, 2015) No * Lecturer at Mercu Buana University. ** Profitability.…”

The Influence of Oil Price Volatility and Price Limit in Indonesia Energy Sub-Sector for the Period Before and After Covid-19

“…This is because the company's ability to use the assets it uses is less effective, resulting in very low profits. Meanwhile, (Elfiswandi et al, 2020) , (Huda et al, 2015) show that Earning Per Share does not affect the return of existing stocks.…”

The Influence of Fundamental Factors on Stakeholders' Wealth with Good Mining as A Moderation of Mining Sector in Indonesia

“…It is also evident that each rupiah is used as collateral for a debt. Referring to the research carried out by [3] [56] [5] [25], solvency has a positive influence on stock returns. Based on these analyses, the fourth alternative hypothesis was formulated as follows:…”