Proceedings of the 5th International Conference on Global Innovation and Trends in Economy 2024 (INCOGITE 2024)

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The Influence of Macroeconomic Factors on The Stock Returns of Energy Sector in Indonesia Stock Exchange

Authors
Haris Dwi Laksono1, Yosman Bustaman1, *
1Swiss German University, Tangerang, Indonesia
*Corresponding author. Email: yosman.bustaman@sgu.ac.id
Corresponding Author
Yosman Bustaman
Available Online 11 December 2024.
DOI
10.2991/978-94-6463-585-0_11How to use a DOI?
Keywords
Inflation; interest rate; exchange rate; oil price; coal price; gold price; and stock returns of energy sectors
Abstract

This research aims to analyze the influence of macroeconomic variables, which include inflation rates, interest rates, changes in exchange rates, and changes in commodity prices such as crude oil prices, coal prices, and gold prices, on energy sector stock returns as measured using the percentage change in stock prices. The analysis technique used is panel data regression with a random effect model. Partial research results show that the inflation rate and changes in commodity prices have a positive effect on stock returns in the energy sector. Meanwhile, interest rates and changes in exchange rates have a negative effect. In this study, dummy data was added because, throughout the research period, there was an economic slowdown due to the COVID-19 pandemic, which affected the decline in stock returns in the energy sector. Empirically, these findings confirm that macroeconomic conditions influence the stock market, and practically, these findings imply that investors must be more careful in managing their portfolios, and the government must always take strategic measures to maintain economic stability.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 5th International Conference on Global Innovation and Trends in Economy 2024 (INCOGITE 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
11 December 2024
ISBN
978-94-6463-585-0
ISSN
2352-5428
DOI
10.2991/978-94-6463-585-0_11How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Haris Dwi Laksono
AU  - Yosman Bustaman
PY  - 2024
DA  - 2024/12/11
TI  - The Influence of Macroeconomic Factors on The Stock Returns of Energy Sector in Indonesia Stock Exchange
BT  - Proceedings of the 5th International Conference on Global Innovation and Trends in Economy 2024 (INCOGITE 2024)
PB  - Atlantis Press
SP  - 145
EP  - 159
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-585-0_11
DO  - 10.2991/978-94-6463-585-0_11
ID  - Laksono2024
ER  -