scholarly journals FUNDAMENTALS OF INTEGRATED COMMERCIAL BANK IN MACROECONOMIC AND SHARIA PERSPECTIVE IN INDONESIA

2018 ◽  
Vol 3 (2) ◽  
pp. 349-387
Author(s):  
Kumara Jati ◽  
Aziza Rahmaniar Salam
Keyword(s):  
Time Series ◽  
Exchange Rate ◽  
Commercial Bank ◽  
Stock Prices ◽  
Stock Price ◽  
Vector Autoregression ◽  
Share Price ◽  
Fasting Period ◽  
Goods And Services ◽  
Bank Stock

This research analyses the fundamentals of integrated commercial bank in macroeconomic and sharia perspective in Indonesia. Based on the calculation of Vector Autoregression (VAR), the impact of macroeconomic variables (Jakarta Stock Islamic Index / JKSII, Indonesian Stock Price Composite Index / JKSE, Crude Oil Price, and Exchange Rate)  on stock prices of commercial banks vary. These shocks indicate an indirect price transmission through exchange rate channels and economic growth. From the Structrural Time Series Model (STSM), JKSII, JKSE, and commercial bank share price prediction will generally increase at the end of 2017 and 2018. This will generate hope and benefit for policy maker and business actors in the banking, finance and sharia sectors. In general, the ARMA-ARCH/GARCH model with dummy variables found negative impact of “Fasting Period and Eid Al-Fitr” on return of JKSII, JKSE, and commercial bank stock price. This indicates a cycle of stock price decline that occurs when consumers spend more money to purchase goods and services. However, this cycle of stock price declines is only temporary because the recovery of the world economy and the increase in demand for goods and services in the future can be a pull factor for stock prices (demand factor). Policy makers and stakeholders related to the financial system, banking and capital markets, especially the sharia sector need to see the movement of conventional bank stocks and “Fasting Period and Eid Al-Fitr” as they move in the opposite direction for a certain period.   Keywords: Stock Price of Commercial Bank, Macroeconomic and Sharia Perspective, Vector Autoregression (VAR), Structural Time-Series Models (STSM), ARMA-ARCH/GARCH   JEL Classification Codes: F31, F47, G15, G21

Pengaruh Kurs Rupiah Dan Right Issue Terhadap Harga Saham PT Telekomunikasi Indonesia Tbk Yang Listing Di Jakarta Islamic Index

2018 ◽  
Vol 3 (1) ◽  
pp. 48
Author(s):  
Muhammad Fauzan
Keyword(s):  
Time Series ◽  
Regression Analysis ◽  
Exchange Rate ◽  
Stock Prices ◽  
Stock Price ◽  
Secondary Data ◽  
Share Price ◽  
Collection Method ◽  
Analytical Technique ◽  
The Right

This study discusses the effect of rupiah exchange rate and right issue on stock price of PT. Telekomunikasi Indonesia Tbk listing in Jakarta Islamic Index (JII). The purpose is to determine the effect between the rupiah exchange rate and the right issue against the stock price of PT. Telekomunikasi Indonesia Tbk and to find out which factors have the most influence on stock prices of PT. Telekomunikasi Indonesia Tbk. Data collection method uses time series secondary data obtained from the official website of Bank Indonesia and PT. Danareksa Sekuritas. The data collected are from January 2013 to December 2016. Multiple linear regression is used as an analytical technique. The results showed that the variables of the rupiah exchange rate against the Dollar and the right issue variable jointly affect the stock price of PT. Telekomunikasi Indonesia Tbk. From result of regression analysis known that right issue have stronger influence than rupiah exchange rate to share price of PT. Telekomunikasi Indonesia Tbk.

scholarly journals Pengaruh Kurs, Suku Bunga, dan Dividen Pershare Terhadap Harga Saham Pada Sektor Perbankan yang Terdaftar di Bursa Efek Indonesia Tahun 2013– 2017

2018 ◽  
Vol 10 (1) ◽  
pp. 21-33
Author(s):  
Atika Riziqyani ◽  
Gunistiyo ◽  
Niken Wahyu C
Keyword(s):  
Regression Analysis ◽  
Exchange Rate ◽  
Interest Rate ◽  
Linear Regression ◽  
Stock Prices ◽  
Stock Price ◽  
Banking Sector ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Share Price

The effect of exchange rate, interest rate and dividend of share price on banking sector which is listed in Indonesia Stock Exchange year 2013-2017. Essay. Tegal: Faculty of Economics and Business Universitas Pancasakti Tegal,2018. The purpose of this study is to determine the ability of investors in considering stock prices in the banking sector in 2013-2017. Hypothesis in this research is 1) exchange rate effect on stock price. 2) interest rates affect the stock price. 3) dividend pershare effect on stock price. 4) exchange rate, interest rate and dividend pershare simultaneously affect the stock price. The population used in this study is a banking company that publishes stock prices listed on the Indonesia Stock Exchange in 2013-2017. The sample in this research are 21 banking companies. With technique of sampling using purposive sampling. The data in this research is quantitative data. Sources of data in this study are secondary sources obtained from the share price of an annual banking company published in Indonesia Stock Exchange period 2013-2017. Data collection techniques using documentation techniques. Data analysis method using descriptive statistic, classical assumption test, simple linear regression analysis, multiple linear regression analysis and coefficient of determination, then obtained the result of research that the exchange rate does not have a significant effect on stock prices, the interest rate does not significantly influence the stock price, against stock price, exchange rate, interest rate and dividend pershare have significant effect to stock price.

scholarly journals ANALISIS PENGARUH CAPITAL FLOW TERHADAP NILAI TUKAR DAN INDEKS HARGA SAHAM GABUNGAN (IHSG) TAHUN 2011 — 2014

2019 ◽  
Vol 10 (1) ◽  
pp. 1
Author(s):  
Herry Budisusetyo
Keyword(s):  
Time Series ◽  
Exchange Rate ◽  
Significant Influence ◽  
Stock Price ◽  
Price Index ◽  
Capital Flow ◽  
Share Price ◽  
Analysis Technique ◽  
Stock Price Index

<p class="Style1"><em>This study aims to see the effect of net capital flow on rupiah exchange rate and </em><em>Composite Stock Price Index (IHSG) in Indonesia. The type of data is time series </em><em>period January 2011 until December 2014. Analysis technique used is single linear </em><em>regression. The result of thif research is positive and significant influence of net capital </em><em>flcw to rupiah exchange rate and composite share price index in Indonesia.</em></p>

scholarly journals Effect of Composite Stock Price Index, Exchange Rate and Interest Rate Share Price of Mining Companies Listed in Indonesia Stock Exchange

2017 ◽  
Author(s):  
Imaduddin Murdifin ◽  
Suriyanti Andi Mangkona
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Secondary Data ◽  
Share Price ◽  
Mining Companies ◽  
Stock Price Index

This study aimed to examine the effect of Composite Stock Price Index (Composite Stock Price Index (CSPI)), the exchange rate, and interest rates on stock prices of mining companies listed in Indonesia stock Exchange. This research is associative with quantitative approach. Data were analyzed using panel data regression. The data used is secondary data such as financial data, and the percentage of monthly interest rates over the last three years. The collection of data taken with documentation techniques derived from published reports of Bank Indonesia and the Indonesia Stock Exchange. Sampling was done by purposive sampling with the number nine companies. The results showed that the CSPI and interest rates but not significant positive effect on stock prices. The rupiah exchange rate and significant negative effect on stock prices. Simultaneously the composite stock price index, the rupiah exchange rate, and interest rates have a significant effect on stock prices of mining companies listed on the Indonesia Stock Exchange

scholarly journals PENGARUH ROA, TINGKAT INFLASI DAN NILAI TUKAR RUPIAH TERHADAP HARGA SAHAM

2019 ◽  
Vol 1 (2) ◽  
pp. 23-30
Author(s):  
Selvi Yona Sari ◽  
Neni Sri wahyuni Nengsi ◽  
Desi Permata Sari ◽  
Anisa Tunaswara
Keyword(s):  
Exchange Rate ◽  
Hypothesis Testing ◽  
Significant Influence ◽  
Stock Prices ◽  
Stock Price ◽  
Inflation Rate ◽  
Stock Exchange ◽  
Share Price ◽  
Return On Assets ◽  
Calculated Number

His study aims to analyze the effect of Return On Assets, Inflation Rate and Rupiah Exchange Rate on the share price of banking companies on the Indonesia Stock Exchange. Based on the results of the research processed for the variables Return on Assets, Inflation Rate and Rupiah Exchange Rate on Stock Prices shows the simultaneous and significant influence. This is shown in the results of hypothesis testing with F count. 36.99996> F table 3.06. With a significance of 0.000000 <0.05. The Return On Assets variable is partially negative and insignificant on the Stock Price. This is shown in the results of hypothesis testing with the number t count <t table that is 0.577606 <1.65566 with a significance value of 0.5647> 0.05. Variable Inflation Levels on Stock Prices show a positive and significant influence. This is shown in the results of hypothesis testing with a calculated number of 14.42283> t table 1.65566 with a significance value of 0.0000 <0.05. While the Rupiah Exchange Rate partially has a negative but significant effect on the Stock Price. This is shown in the results of hypothesis testing with the number t -12.45095 <t table 1.65566 with a significance value of 0.0000 <0.05.

scholarly journals Hubungan Karakteristik Bank dengan Harga Saham

2020 ◽  
Vol 1 (1) ◽  
pp. 10-22
Author(s):  
Muchlis H. Mas'ud ◽  
Dwi Anggarani ◽  
Zulkifli
Keyword(s):  
Time Series ◽  
Credit Risk ◽  
Cross Section ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Bank Capital ◽  
Cross Section Data ◽  
Section Data ◽  
Bank Stock

This study discusses the influence of variable bank characteristics on bank stock prices included on the Indonesia Stock Exchange (2009-2013). Regarding what is used is a data collection that is a merger between cross section data and time series from 25 banks. The results showed that bad credit as a proxy for credit risk increased significantly to stock prices. Credit risk increases. It is proven that efficiency shows a negative and significant relationship to stock prices. Limitations / Implications in this study are the adequacy of bank capital, profitability and income diversification ratio non-interest income (NIIR) does not affect the bank's stock price.

scholarly journals Effect of Composite Stock Price Index, Exchange Rate and Interest Rate Share Price of Mining Companies Listed in Indonesia Stock Exchange

2017 ◽  
Vol 9 (1) ◽  
pp. 27
Author(s):  
Imaduddin Murdifin ◽  
Suriyanti Andi Mangkona
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Secondary Data ◽  
Share Price ◽  
Mining Companies ◽  
Stock Price Index

<p>This study aimed to examine the effect of Composite Stock Price Index (Composite Stock Price Index (CSPI)), the exchange rate, and interest rates on stock prices of mining companies listed in Indonesia stock Exchange. This research is associative with quantitative approach. Data were analyzed using panel data regression. The data used is secondary data such as financial data, and the percentage of monthly interest rates over the last three years. The collection of data taken with documentation techniques derived from published reports of Bank Indonesia and the Indonesia Stock Exchange. Sampling was done by purposive sampling with the number nine companies.  The results showed that the CSPI and interest rates but not significant positive effect on stock prices. The rupiah exchange rate and significant negative effect on stock prices. Simultaneously the composite stock price index, the rupiah exchange rate, and interest rates have a significant effect on stock prices of mining companies listed on the Indonesia Stock Exchange. </p>

scholarly journals SENSITIVITAS FAKTOR EKONOMI MAKRO DAN MIKRO DALAM MEMPREDIKSI VOLATILITAS HARGA SAHAM PERUSAHAAN SEKTOR INDUSTRI FOOD & BEVERAGES

2019 ◽  
Vol 4 (1) ◽  
pp. 85-100
Author(s):  
Abdul Kohar ◽  
Nurmala Ahmar ◽  
Suratno Suratno
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Price Volatility ◽  
Share Price ◽  
Macroeconomic Factors ◽  
Stock Price Volatility ◽  
The Impact

The movement of macroeconomic factors can be used to predict the movement of the stock price, but different researchers are using different macroeconomic factors because there is still no consensus among them which macroeconomic factors that have an influence on stock prices. This study aimed to analyze and test the impact of macroeconomics factors which consisting of inflation, interest rates, exchange rate, and microeconomy factors, consisting of asset growth, growth earnings and sales growth to the volatility of stock prices on food and beverages companies listed in Indonesia Stock Exchange between 2011 and 2015 period. The study measure the sensitivity of inflation and interest rates and stock price volatility by regressing each variable with a share price which will produce the sensitivity value of each variable. A total of 66 samples are tested by using the classic assumption as the precondition for regression analysis techniques (multiple regressions). The results showed that inflation is partially affect the stock price volatility, Indonesia Interest Rate (SBI) is partially effect on stock price volatility, and exchange rate and microeconomics are partially no effect on stock price volatility.

scholarly journals Effect of Composite Stock Price Index, Exchange Rate and Interest Rate Share Price of Mining Companies Listed in Indonesia Stock Exchange

2017 ◽  
Author(s):  
Imaduddin Murdifin ◽  
Suriyanti Andi Mangkona
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Stock Price ◽  
Price Index ◽  
Stock Exchange ◽  
Secondary Data ◽  
Share Price ◽  
Mining Companies ◽  
Stock Price Index

This study aimed to examine the effect of Composite Stock Price Index (Composite Stock Price Index (CSPI)), the exchange rate, and interest rates on stock prices of mining companies listed in Indonesia stock Exchange. This research is associative with quantitative approach. Data were analyzed using panel data regression. The data used is secondary data such as financial data, and the percentage of monthly interest rates over the last three years. The collection of data taken with documentation techniques derived from published reports of Bank Indonesia and the Indonesia Stock Exchange. Sampling was done by purposive sampling with the number nine companies. The results showed that the CSPI and interest rates but not significant positive effect on stock prices. The rupiah exchange rate and significant negative effect on stock prices. Simultaneously the composite stock price index, the rupiah exchange rate, and interest rates have a significant effect on stock prices of mining companies listed on the Indonesia Stock Exchange.

Effect Of Leverage, Inflation And GDP To Share Price Pt. Astra Otoparts Tbk.

ProBank ◽  
2018 ◽  
Vol 3 (2) ◽  
pp. 17-21
Author(s):  
Heriyanta Budi Utama ◽  
Florianus Dimas Gunurdya Putra Wardana
Keyword(s):  
Gross Domestic Product ◽  
Stock Prices ◽  
Stock Price ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Share Price ◽  
Domestic Product ◽  
Coefficient Of Determination ◽  
Test Results ◽  
Purposive Sampling

The purpose of this study was to obtain empirical evidence about the effect of leverage, inflation and Gross Domestic Product (GDP) of the share price at PT. Astra Autopart, Tbk. companies in Indonesia Stock Exchange in 2011-2015. The sampling technique in this study using a purposive sampling. With the technique of purposive  sampling, all the members of the research samples by criteria. Samples that meet the criteria are used research data. Then followed the classic assumption test and test hypotheses by linear regression. The results of this study demonstrate the regression results in regression equation that Y = 2605,424 + 1561,550 X1 + 2,338 X2 + 38,994X3. T test results showed that the leverage anda GDP (Gross Domestic Product) is positive and significant effect on stock prices, while inflation is not positive and significant effect on stock prices. F test results showed that jointly leverage variables, inflation and GDP variables affecting the stock price significantly. The test results R2 (coefficient of determination) found that the variable leverage, inflation and GDP able to explain 35,4% of the stock price variable, while the remaining 64,6% is explained by other variables.Keywords: leverage, inflation, GDP, and the share priceThe purpose of this study was to obtain empirical evidence about the effect of leverage, inflation and Gross Domestic Product (GDP) of the share price at PT. Astra Autopart, Tbk. companies in Indonesia Stock Exchange in 2011-2015.The sampling technique in this study using a purposive sampling. With the technique of purposive  sampling, all the members of the research samples by criteria. Samples that meet the criteria are used research data. Then followed the classic assumption test and test hypotheses by linear regression.The results of this study demonstrate the regression results in regression equation that Y = 2605,424 + 1561,550 X1 + 2,338 X2 + 38,994X3. T test results showed that the leverage anda GDP (Gross Domestic Product) is positive and significant effect on stock prices, while inflation is not positive and significant effect on stock prices. F test results showed that jointly leverage variables, inflation and GDP variables affecting the stock price significantly. The test results R2 (coefficient of determination) found that the variable leverage, inflation and GDP able to explain 35,4% of the stock price variable, while the remaining 64,6% is explained by other variables.Keywords: leverage, inflation, GDP, and the share price

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