El Nino On Stock Prices
El Nino Pada Harga Saham
DOI:
https://doi.org/10.21070/ups.9976Keywords:
Deflation, Exchange Rate, Net Profit Margin, Stock PricesAbstract
This study analyzes the effects of deflation, exchange rates, and Net Profit Margin (NPM) on the stock prices of 21 agricultural companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period, amidst the El Niño phenomenon. Using a quantitative approach with panel data regression, the results show that deflation and NPM significantly influence stock prices, while the exchange rate has no significant effect due to its relatively stable margin. Deflation has a positive effect, indicating a shift in investment in the agricultural sector when general prices decline. The significance of NPM confirms that operational efficiency and profitability remain key attractions for investors. These findings suggest that during El Niño, investors are more responsive to deflation indicators and company fundamentals than to exchange rate stability. These results align with SDG goal 8, point 8, regarding inclusive and sustainable economic growth.
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