| Summary: | This research aims to analyze the effect of the exchange rates, interest rates, oil prices, coal prices, debt-to-equity ratio, return on asset, and firm size on the dependent variable stock returns in energy sector companies listed on the Indonesia Stock Exchange in 2017 to 2021. The analysis technique in this study was carried out using a panel data regression test with the Eviews10 program. The results of this study indicate that the variables coal price, debt-to-equity ratio, and firm size have no effect on stock returns, while oil prices and return on assets have a positive impact on stock returns. On the other hand, exchange rates and interest rates have a negative effect on stock returns.
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