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.