THE EFFECT OF ASSET PRODUCTIVITY, PROFITABILITY, COMMODITY GLOBAL PRICES, GREEN BUSINESS SEGMENT ON OIL & GAS COMPANY PERFORMANCE WITH GROWTH OPPORTUNITY AS MODERATING VARIABLE

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Elfan Zulvanian Rifky, Tristan (2025) THE EFFECT OF ASSET PRODUCTIVITY, PROFITABILITY, COMMODITY GLOBAL PRICES, GREEN BUSINESS SEGMENT ON OIL & GAS COMPANY PERFORMANCE WITH GROWTH OPPORTUNITY AS MODERATING VARIABLE. Undergraduate thesis, Institut IPMI.

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Abstract

This study investigates the influence of internal factors asset productivity and profitability and external factors global oil prices and green energy initiatives on the performance of oil and gas companies listed on the Indonesia Stock Exchange during 1Q2014–4Q2024. Company performance is measured through Tobin’s Q and stock returns, with growth opportunity (EV/EBITDA) as a moderating variable and COVID-19 as an operational variable. Using panel data regression on 10 firms, the findings reveal that profitability and oil price return significantly enhance stock returns, reflecting investor sensitivity to short-term financial and macroeconomic signals. In contrast, firm value is more strongly influenced by growth opportunity and its interaction with operational efficiency, commodity dynamics, and sustainability engagement. The moderating role of growth opportunity is particularly important in amplifying strategic value creation while also exposing firms to greater risk perception during crises. The results highlight a divergence in drivers of valuation and return: long-term value responds to strategic alignment and growth positioning, while stock returns are shaped by immediate performance indicators. These findings underscore the importance of integrating resource-based strengths, market conditions, and growth potential in strategic decision-making for investment on Indonesia’s energy sector. Keyword: Asset Turnover, Net Profit Margin, Green Business Segment, Growth Opportunity, EV/EBITDA, Shareholder Wealth Maximization, Resource-Based View, Contingency Theory, The Concept of Sustainability, Tobin’s Q and Stock Return of Oil & Gas Company

Item Type: Thesis (Undergraduate)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Thesis > Bachelor of Business Administration
Depositing User: Dwi Selviyana
Date Deposited: 17 Dec 2025 09:07
Last Modified: 17 Dec 2025 09:07
URI: http://repository.ipmi.ac.id/id/eprint/2924

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