Jurnal Manajemen dan Agribisnis
Vol. 16 No. 1 (2019): JMA Vol. 16 No. 1, March 2019

The Effects of Macroeconomic Variables and Corporate Financial Performance on Stock Prices of Palm Oil Companies in Indonesia

Putri, Pebrika Yudha (Unknown)
Achsani, Noer Azam (Unknown)
Pranowo, Koes (Unknown)



Article Info

Publish Date
24 Mar 2019

Abstract

Palm oil commodity is still one of the largest foreign exchange contributors to the Indonesian states and remains as an attractive industry. In 2016, Indonesia was the main exporter of CPO with the highest production volume in the world. Palm oil issuers face business challenges from external and internal factors. This research was conducted to analyze whether the stock price of oil palm issuer in Indonesia was influenced by macroeconomic variables (crude oil price, exchange rate, inflation, and interest rate) and financial performance variables (DER, ROA, ROE, EPS, and AUR). This is important because if the macroeconomic variables and financial performance of the company have an impact on the company's performance reflected in the stock price movement of the issuer, this will be an important consideration for investors to take decisions. The results of this research using panel data regression (2010-2016 with quarter data) indicated that only one macroeconomic variable of Exchange Rate that had a negative significant effect on the price of palm oil stock while the financial performance variables in this research affecting the palm oil stock price significantly were DER, ROA, ROE, EPS, EPS t-1, and Stock Price t-1. All variables used in this research can represent the influence of the stock price of palm oil by 99.21%.

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Journal Info

Abbrev

jmagr

Publisher

Subject

Agriculture, Biological Sciences & Forestry Economics, Econometrics & Finance

Description

Jurnal Manajemen & Agribisnis memuat informasi hasil kegiatan penelitian, pemikiran konseptual dan review bidang ilmu manajemen agribisnis. Jurnal ilmiah ini diterbitkan oleh Program Studi Manajemen dan Bisnis, Sekolah Pascasarjana, Institut Pertanian Bogor bekerjasama Perhimpunan Ekonomi Pertanian ...