Empirical Analysis of Financial and Macroeconomic Dynamics on Stock Returns

Authors

  • Diah Ismayanti Universitas Achmad Yani Banjarmasin
  • Surti Surti Universitas Achmad Yani Banjarmasin

DOI:

https://doi.org/10.32662/gaj.v8i1.4053

Keywords:

Palm oil, Financial Sector, Macroeconomics

Abstract

This study examines the influence of financial and macroeconomic factors on stock returns of palm oil companies on the Indonesia Stock Exchange during 2018-2024. Using a panel data analysis of 9 palm oil companies, this study investigates how Earnings Per Share (EPS), Price to Earnings Ratio (PER), Return on Equity (ROE), and inflation affect stock performance in the context of the Indonesian economy. The research methodology applies a causal quantitative approach with data from the IDX quarterly financial reports and BPS inflation data. The sample was selected through a purposive sampling method based on the following criteria: listed on the IDX during the study period, consistency of financial report publication, and completeness of variable data. The strategic position of this sector in the Indonesian economy, which contributes to foreign exchange and rural employment, the importance of understanding its investment dynamics. This study integrates the perspective of development economics, analyzing how capital markets can support national economic development through the palm oil sector. These findings are expected to provide insights for investors, companies, and policy makers.

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Published

2025-05-15

How to Cite

Ismayanti, D., & Surti, S. (2025). Empirical Analysis of Financial and Macroeconomic Dynamics on Stock Returns. Gorontalo Accounting Journal, 8(1), 178–193. https://doi.org/10.32662/gaj.v8i1.4053

Issue

Volume 8 Number 1 April 2025

Section

Articles

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