Pengaruh Harga Minyak Dunia, Suku Bunga, dan Nilai Tukar Rupiah terhadap Harga Saham (Studi Empiris terhadap Sektor Energi di Bursa Efek Indonesia Periode 2020–2024)

Abstract

This study aims to analyze the impact of world oil prices, interest rates, and the rupiah exchange rate on the stock prices of energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The study employs a quantitative approach using a causal-associative method. The research population consists of 65 energy sector companies, with a sample of 58 companies selected based on specific criteria. Data were collected through documentation sourced from the financial statements of energy sector companies listed on the IDX, as well as data on world oil prices (Brent Crude), the BI-7 Day Reverse Repo Rate, and the rupiah exchange rate against the US dollar for the 2020–2024 period. Panel data regression analysis was conducted using E-Views version 13 software to examine the direct effects of world oil prices, interest rates, and the rupiah exchange rate on the stock prices of energy sector companies, as measured by closing prices. The results indicate that world oil prices have a positive and significant effect on the stock prices of energy sector companies. Meanwhile, interest rates have a positive but insignificant effect, and the rupiah exchange rate has a negative but insignificant effect on the stock prices of energy sector companies.