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

Author

Listed:
  • Supriyanto Supriyanto

    (Administration Science, Padjadjaran University, Indonesia)

  • Mohammad Benny Alexandri

    (Department of Business Administration, Faculty of Social and Political Science, Padjadjaran University, Indonesia, Science, Indonesia)

  • Nenden Kostini

    (Department of Business Administration, Faculty of Social and Political Science, Padjadjaran University, Indonesia, Science, Indonesia)

  • Ratna Meisa Dai

    (Department of Business Administration, Faculty of Social and Political Science, Padjadjaran University, Indonesia, Science, Indonesia)

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 have a negative and significant impact on stock returns, while oil prices have a positive and widespread effect on stock returns.

Suggested Citation

  • Supriyanto Supriyanto & Mohammad Benny Alexandri & Nenden Kostini & Ratna Meisa Dai, 2021. "Impact of Oil Prices and Stock Returns: Evidence of Oil and Gas Mining Companies in Indonesia During the Covid-19 Period," International Journal of Energy Economics and Policy, Econjournals, vol. 11(6), pages 471-478.
    • Handle: RePEc:eco:journ2:2021-06-54
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    Citations

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    Cited by:

    1. Pande Ketut Rheynaldi & Endri Endri & Minanari Minanari & Putri Andari Ferranti & Subur Karyatun, 2023. "Energy Price and Stock Return: Evidence of Energy Sector Companies in Indonesia," International Journal of Energy Economics and Policy, Econjournals, vol. 13(5), pages 31-36, September.
    2. Kumeka, Terver Theophilus & Uzoma-Nwosu, Damian Chidozie & David-Wayas, Maria Onyinye, 2022. "The effects of COVID-19 on the interrelationship among oil prices, stock prices and exchange rates in selected oil exporting economies," Resources Policy, Elsevier, vol. 77(C).
    3. Supriyanto, 2022. "The Effect of Investment Risk, Macroeconomics on Stock Prices in IPO Companies during the Covid-19 Pandemic," GATR Journals afr209, Global Academy of Training and Research (GATR) Enterprise.

    More about this item

    Keywords

    Oil Price; Stock Return; Probability; Institutional Ownership; Covid-19;
    All these keywords.

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

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