文章基本信息

标题：Do Oil Price Shocks Give Impact on Financial Performance of Manufacturing Sectors in Indonesia?
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作者：Sudarso Kaderi Wiryono ; Oktofa Yudha Sudrajad ; Eko Agus Prasetio 等
期刊名称：International Journal of Energy Economics and Policy
电子版ISSN：2146-4553
出版年度：2020
卷号：10
期号：5
页码：510-514
DOI：10.32479/ijeep.9808
出版社：EconJournals
摘要：The panel vector autoregression model is estimated using three main variables related to with profitability, financial liquidity, and financial leverage for 94 manufacturing companies from 2000 to 2017 in Indonesia. The aim is to examine the impact of oil price shocks on the ROA (profitability), CR (financial liquidity), and DER (financial leverage). The impulse reaction function of samples reveals some remarkable results. First, the response of ROA, DER, and CR appears to be consistent in many ways. Second, either Brent oil or WTI oil gives the same result for these variables. Third, financial liquidity for Indonesia manufacturing companies is not affected by the oil prices. The results obtained are robust following the GMM model in the estimation of the panel VAR.
关键词：Oil price shocks;Panel VAR;Impulse Reaction Function;GMM model