October 9, 2025Eduvest - Journal Of Universal StudiesOpen Access

The Role of Macroeconomics and Financial Performance in Shaping Stock Returns: Evidence From the Coal Industry on the Indonesia Stock Exchange

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Authors

ANAhmad Rizki Nurrahman SSSubiakto Sukarno

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Implication

This study demonstrates how macroeconomic variables and financial performance influence stock returns in Indonesia's coal industry, suggesting critical insights for investors and policymakers.

Key Points

Coal prices and financial performance metrics notably improve stock returns, while inflation and exchange rates present mixed outcomes.
The analysis indicates that strong internal financial performance drives investor interest and enhances stock valuation.
Panel data regression analysis was utilized to evaluate the influence of various macroeconomic indicators on stock performance.
The findings underscore the importance of favorable commodity conditions alongside robust financial metrics in the coal sector.

Cite This Study

Nurrahman et al. (2025) studied this question.

synapsesocial.com/papers/68e79cf2ed88661f66c2e30c https://doi.org/10.59188/eduvest.v5i10.51419

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Implication

This study demonstrates how macroeconomic variables and financial performance influence stock returns in Indonesia's coal industry, suggesting critical insights for investors and policymakers.