Analysis of Factors Influencing the Risk of Investing in Stocks on the Indonesia Stock Exchange in the Energy Sector the Coal Production Sub-Sector

This study aims to determine the effect of macro factors such as interest rates, inflation, and foreign exchange rates and micro factors such as earnings per share, return on assets, the current ratio, and the debt-to-equity ratio on investment risk in issuers in the coal producer sub-sector on the Stock Exchange. Indonesian Securities (IDX). The population of this study was 18 companies in the energy sector in the coal production sub-sector, with a total sampling of 6 companies obtained by the purposive sampling method during the 7-year research period from 2015–2021. The analytical method used in this study is multiple linear regression analysis. The results showed that interest rates and return on assets had a significant negative effect on investment risk, while earnings per share had a significant positive effect. Inflation variables, foreign exchange rates, the current ratio, and the debt-to-equity ratio have no effect on investment risk.