Biodiesel and Stock Prices: Evidence of Oil Palm Plantation Companies in Indonesia

Abstract

This study examines the effect of the biodiesel program factor 20, return on assets (ROA), and debt to equity ratio (DER) on the stock prices of companies in the oil palm plantation sub-sector for the period 2016-2021. The selected research sample is seven oil palm plantation sector companies listed on the Stock Exchange Indonesian Effect (IDX) Panel data regression method was applied to estimate and analyze the research model. The results showed that return on assets (ROA), and debt to equity ratio (DER) have a positive effect but no significance on stock price, while the program of biodiesel 20 does not affect the stock price.