Ririh Anggraini Setyahety

Fakultas Ekonomi dan Bisnis, Universitas PGRI Madiun

Almas Farah Dinna Dewi

Fakultas Ekonomi dan Bisnis, Universitas Jember

DOI: https://doi.org/10.19184/bisma.v17i2.42848

ABSTRACT 

The energy source that is most ready to meet domestic energy needs compared to other energy sources is coal. Exploration and development activities are an essential part of discovering or adding new reserves to support the mining industry for the long term in generating high profits and obtaining returns on investment that can provide benefits to influence and improve company performance. This research aimed to determine the effect of exploration and development expenditure (E&D Expenditure) on company performance and to use the moderation role of company age. The sample for this research was coal mining companies listed on the IDX in 2012-2021, which was selected using a purposive sampling technique. The analysis performed was a regression with the Ordinary Least Squares (OLS) estimation method and Moderated Regression Analysis (MRA). The results of this study reveal that (1) E&D Expenditure has a significant effect on company performance variables, and (2) E&D Expenditure on company performance will have a greater effect on companies aged <20 years.

Keywords: Age, coal company, earning per share, exploration & development expenditure, returnonasset, return on investment