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Research Paper | Agricultural Economics | Indonesia | Volume 5 Issue 11, November 2016

Palm Plantation Subsector : Internal and External Impact on Stock Returns Analysis

Rizki Prasojo Ilmawan Djibran | Sri Hartoyo ^[9] | Hendro Sasongko ^[9]

Abstract: Palm plantation subsector is one of the alternative to invest in stock market. There has been a phenomenon with the decline trend of stock returns in the period of 2010-2015. As an export-based commodity subsector, currency depreciation should be increasing the issuers performance, but it shows the opposite. The CPO price decline trend shows that during the years of 2010-2015 has an impact to palm plantation subsector stock returns. In the year of 2016 CPO Price Increase and will become a positive sentiment. This study aimed to determine the impact of internal and external factors to the palm plantation stock returns in Indonesia Stock Exchange. The method used is data panel estimation with time period between 2010 to 2015 with seven issuers that has never been delisted within period. The result of this study indicates that the Quick Ratio (QR), Price Earning Ratio (PER), and CPO price (HMS) has a significant impact on palm plantation subsector returns at the five percent level.

Keywords: palm plantation subsector stock returns, fundamental analysis, macroeconomic factors

Edition: Volume 5 Issue 11, November 2016,

Pages: 972 - 975

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