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Abstract Energy sector is not excluded from the recession in global economics. However, one can be stable during such outbreak was gold prices which showed incredible stable prices and relatively increasing. That also affected on daily stock prices for the gold producing companies such as PT Aneka Tambang (issuer code: ANTM) that showed conversely increasing than other mining sector companies. This study aims to investigate causal relationships between ANTM stock prices and Indonesian exchange rates in order to have strategic decision-making for investors by employing State Space model and to provide forecasting daily data for both variables. The study found that the State Space model confirmed their dynamic relationship, in which ANTM was not only affected by itself but also by the movement of exchange rates. The forecasting graphs then provide the insight of strategic decision-making for investors to strongly invest on gold-based company as they have an increasing projection for the next 20 days. Downloads Download data is not yet available. Downloads FULL TEXT Published 2023-05-17 How to Cite Ahadiat, A., Kesumah, F. S. D., Azhar, R., & Wisnu, F. K. (2023). Strategic Decision-Making on Mining Sector Company Stock Prices and Economic Variable (State Space Model Application). International Journal of Energy Economics and Policy, 13(3), 177–184. https://doi.org/10.32479/ijeep.14171 More Citation Formats ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver Download Citation Endnote/Zotero/Mendeley (RIS) BibTeX Issue Vol. 13 No. 3 (2023) Section Articles License Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Most read articles by the same author(s) Toto Gunarto, Rialdi Azhar, Novita Tresiana, Supriyanto Supriyanto, Ayi Ahadiat, Accurate Estimated Model of Volatility Crude Oil Price , International Journal of Energy Economics and Policy: Vol. 10 No. 5 (2020) Ernie Hendrawaty, Mohd Shahidan Shaari, Fajrin Satria Dwi Kesumah, Abdul Rahim Ridzuan, Economic Growth, Financial Development, Energy Consumption and Life Expectancy: Fresh Evidence from ASEAN countries , International Journal of Energy Economics and Policy: Vol. 12 No. 2 (2022) Ambya Ambya, Toto Gunarto, Ernie Hendrawaty, Fajrin Satria Dwi Kesumah, Febryan Kusuma Wisnu, Future Natural Gas Price Forecasting Model and Its Policy Implication , International Journal of Energy Economics and Policy: Vol. 10 No. 5 (2020) Ernie Hendrawaty, Rialdi Azhar, Fajrin Satria Dwi Kesumah, Sari Indah Oktanti Sembiring, Mega Metalia, Modelling and Forecasting Crude Oil Prices during COVID-19 Pandemic , International Journal of Energy Economics and Policy: Vol. 11 No. 2 (2021) Rialdi Azhar, Fajrin Satria Dwi Kesumah, Ambya Ambya, Febryan Kusuma Wisnu, Edwin Russel, Application of Short-term Forecasting Models for Energy Entity Stock Price (Study on Indika Energi Tbk, JII) , International Journal of Energy Economics and Policy: Vol. 10 No. 1 (2020) Rialdi Azhar, Febryan Kusuma Wisnu, Fajrin Satria Dwi Kesuma, Widya Rizki Eka Putri, Rian Andri Prasetya, State-space Implementation in Forecasting Carbon and Gas Prices in Commodity Markets , International Journal of Energy Economics and Policy: Vol. 12 No. 3 (2022) Make a Submission Make a Submission Dergi Kapağı

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