THE INFLUENCE OF MACROECONOMIC VARIABLES TOWARD JAKARTA COMPOSITE INDEX ON INDONESIA STOCK EXCHANGE

This study aimed to get empirical evidence macroeconomic variable : money supply, gross domestic product, inflation, BI Rate, exchange rate IDR/USD toward JCI. This research conducted by examine the data in the period January 2007 – December 2016. The research technique is using multiple linear regression analysis. The result showed that the Money Supply and GDP positive but not significant effect, inflation negative and not significant,BI Rate and exchange rate IDR / USD negative and significant effect on the Jakarta Composite Index. Keywords: Money Supply, Gross Domestic Product, Inflation, BI Rate, Exchange Rate IDR/USD, JCI

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Pengaruh Variabel Makroekonomi Terhadap Indeks Harga Saham Gabungan (Studi pada Indeks Harga Saham Gabungan di Bursa Efek Indonesia Periode 2014-2018)

JURNAL ADMINISTRASI BISNIS ◽

10.35797/jab.8.2.2019.23565.75-82 ◽

2019 ◽

Vol 8 (2) ◽

pp. 75

Author(s):

Rina R. Mamahit ◽

Tinneke M. Tumbel ◽

Joanne V. Mangindaan

Keyword(s):

Exchange Rate ◽

Time Series Data ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Composite Index ◽

Multiple Linear Regression Analysis ◽

Series Data ◽

Macroeconomic Variables ◽

Negative Effect ◽

The Exchange Rate

This research aims to determine whether the macroeconomic variables i.e., the exchange rate, inflation and BI rate simultaneously and partially influence Indonesia Composite Index at The Indonesia Stock Exchange (IDX). The approach in this study is a quantitative method, using multiple linear regression analysis. The data used are time series data from January 2014 until December 2018. The result indicates that exchange rates, inflation and BI together have a significant impact to Indonesia Composite Index. Individually, only the BI rate variable has a significant effect and has a negative effect to Indonesia Composite Index. The exchange rate and inflation had no significant effect to Indonesia Composite Index.

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Determinants of Macroeconomic Variables on Islamic Stock Index: Evidence from Frontier Market

Journal of International Business, Economics and Entrepreneurship ◽

10.24191/jibe.v5i1.14288 ◽

2020 ◽

Vol 5 (1) ◽

pp. 23

Author(s):

Noor Hafizha Muhamad Yusuf ◽

Natasha Aliana Muhamad Hilmi ◽

Wan Mohd Yaseer Mohd Abdoh ◽

Rozihanim Shekh Zain ◽

Noor Sharida Badri Shah

Keyword(s):

Exchange Rate ◽

Gross Domestic Product ◽

Money Supply ◽

Significant Relationship ◽

Emerging Market ◽

Oil Price ◽

Stock Index ◽

Domestic Product ◽

Fe Model ◽

Macroeconomic Variables

This paper provides useful insights on the determinants of macroeconomic variables on Islamic stock index evidence from frontier market. The aims of this study is to examine the effect of macroeconomic variables namely gross domestic product (GDP), inflation (consumer price index), exchange rate (USD exchange rate), oil price (crude palm oil) and money supply (M2) on frontier market Islamic index (FMII). This study employs Fixed Effect (FE) model of 17 countries listed under FMII. The study cover a ten (10) years period from 2008 until 2017. The study have shown significant relationship between inflation, money supply and exchange rate with FMII and managed to reject null hypotheses for the three variables. Inflation and exchange rate is negatively related with FMII while money supply, gross domestic product and oil price is positively related to FMII. However, the study fails to find any significant relationship between gross domestic product and oil price with FMII. The findings of this study will provide better understanding on the frontier market and helps to improve their performance. Therefore, it can encourage countries in frontier market to be able to compete and achieve similar advancement as countries in developed and emerging market did.

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Selected Macroeconomic Variables and Agricultural Sector in Nigeria

International Journal of Social Science and Economics Invention ◽

10.23958/ijssei/vol07-i06/300 ◽

2021 ◽

Vol 7 (06) ◽

Author(s):

James Ese Ighoroje ◽

Catherine, Ogheneovo Orife

Keyword(s):

Exchange Rate ◽

Interest Rate ◽

Gross Domestic Product ◽

Money Supply ◽

Agricultural Sector ◽

Least Square ◽

Domestic Product ◽

Agricultural Output ◽

Macroeconomic Variables ◽

Ex Post

The study investigated effect of selected macroeconomic variables on agricultural sector output in Nigeria from 1987 - 2019. Annual Agricultural Output (AAO) represented the dependent variable for the study while gross domestic product, interest rate, money supply, and exchange rate represented the explanatory variables. Ex-post factor research design was employed for the study. Augmented Dickey Fuller Unit Roots test and Ordinary Least Square (OLS) Regression techniques were used to analyze data collected. The empirical investigation showed that gross domestic product as well as money supply has a positive and significant effect on agricultural output, while interest rate and exchange rate exerted a negative and insignificant effect on agricultural output. From the study, selected macroeconomic variables have positive effect on agricultural output in Nigeria and this has tremendously contributed to the country's growth and development. The study recommends amongst other; that government should accelerate the rate of economic growth by investing heavily on the agricultural sector so as to boost domestic production and enhance exportation in order to stabilize exchange rate while curbing inflation; give incentives to banks extending agricultural loans by lowering the lending rate on agricultural loans to ease access to funds for agricultural investment.

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ANALISIS PENGARUH INFLASI, NILAI TUKAR RUPIAH, DAN SUKU BUNGA TERHADAP RETURN SAHAM PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

KINDAI ◽

10.35972/kindai.v16i2.387 ◽

2020 ◽

Vol 16 (2) ◽

pp. 262-275

Author(s):

Richson Pardamean Silaban

Keyword(s):

Exchange Rate ◽

Interest Rates ◽

Stock Returns ◽

Quantitative Methods ◽

Banking Sector ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Macroeconomic Variables ◽

Company Stock

Abstrak : Kondisi moneter dan pergerakan variabel makro ekonomi merupakan hal yang perlu diperhatikan oleh seorang investor dalam melakukan aktivitas perdagangan saham di suatu negara. Keadaan ekonomi dan pergerakan variabel makro dalam suatu negara dapat mempengaruhi return saham, termasuk dalam sektor perbankan. Penelitian ini bertujuan untuk mengetahui pengaruh variabel makro ekonomi yaitu inflasi, nilai tukar rupiah, dan suku bunga terhadap return saham perusahaan perbankan yang terdaftar di BEI. Penelitian ini menggunakan metode kuantitatif. Populasi dalam penelitian ini adalah seluruh perusahaan perbankan yang terdaftar di Bursa Efek Indonesia pada periode 2014-2018, sedangkan sampel dalam penelitian ini adalah 29 perusahaan perbankan yang memenuhi kriteria penelitian. Teknik analisis data dalam penelitian ini menggunakan analisis regresi linier berganda. Hasil penelitian ini menunjukkan bahwa secara simultan variabel inflasi, nilai tukar rupiah, dan suku bunga berpengaruh secara signifikan terhadap return saham perusahaan perbankan. Secara parsial variabel inflasi, nilai tukar rupiah, dan suku bunga juga berpengaruh secara signifikan terhadap return saham perusahaan perbankan. Variabel yang memiliki pengaruh paling dominan adalah nilai tukar rupiah. Kata kunci: Inflasi, Nilai Tukar Rupiah, Suku Bunga, Return Saham Abstact : Monetary conditions and movement of macroeconomic variables are things that need to be considered by an investor in carrying out stock trading activities in a country. Economic conditions and movements of macro variables in a country can affect stock returns, including in the banking sector. This study aims to determine the effect of macroeconomic variables, namely inflation, rupiah exchange rate, and interest rates on stock returns of banking companies listed on the IDX. This research uses quantitative methods. The population in this study were all banking companies listed on the Indonesia Stock Exchange in the 2014-2018 period, while the sample in this study was 29 banking companies that met the research criteria. Data analysis techniques in this study used multiple linear regression analysis. The results of this study indicate that simultaneously inflation, rupiah exchange rate, and interest rates variables significantly influence the stock returns of banking companies. Partially, inflation, rupiah exchange rate, and interest rates also have a significant effect on banking company stock returns. The variable that has the most dominant influence is the rupiah exchange rate. Keywords: Inflation, Rupiah Exchange Rates, Interest Rates, Stock Returns

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NILAI TUKAR, NILAI EKSPOR, DAN PERTUMBUHAN EKONOMI TERHADAP PROFITABILITAS EKSPORTIR FOOD AND BEVERAGE DI BEI

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2018.v07.i08.p06 ◽

2018 ◽

Vol 7 (8) ◽

pp. 4181 ◽

Cited By ~ 1

Author(s):

Ni Putu Ekasari ◽

I Gde Kajeng Baskara

Keyword(s):

Economic Growth ◽

Regression Analysis ◽

Exchange Rate ◽

Linear Regression ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Analysis Technique ◽

Food And Beverage ◽

Growth Economic

This study aims to examine the significance of the effect of rupiah exchange rate, export value, and economic growth on the profitability of food and beverage export companies in Indonesia Stock Exchange. The sample used is food and beverage company in Indonesia Stock Exchange during period 2012-2016 with 6 companies collected through purposive sampling. Hypothesis testing research using multiple linear regression analysis technique. The results of this study indicate that: exchange rate of Rupiah, export value, and economic growth have positive and significant effect to profitablity. Keywords: exchange rate, export growth, economic growth

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ANALISIS PENGARUH INFLASI, JUMLAH UANG BEREDAR, DAN PRODUK DOMESTIK BRUTO TERHADAP RETURN ON ASSET (ROA) BANK SYARIAH DI INDONESIA

Jurnal Fokus Manajemen Bisnis ◽

10.12928/fokus.v6i2.1659 ◽

2020 ◽

Vol 6 (2) ◽

pp. 132

Author(s):

Ibnu Seyna Riyanto ◽

Salamatun Asakdiyah

Keyword(s):

Gross Domestic Product ◽

Money Supply ◽

Linear Regression Analysis ◽

Secondary Data ◽

Sampling Technique ◽

Multiple Linear Regression Analysis ◽

Significance Test ◽

Domestic Product ◽

Islamic Banks ◽

Return On Assets

This study aims to explain the analysis of the influence of inflation, amount of money supply and gross domestic product to return on assets (ROA) Islamic Banks in Indonesia for the period 2010-2014. Macroeconomic variables used in this research are inflation, the amount of money supply and gross domestic product. Indicators used to assess performance Islamic Bank finance in this study is Return On Assets (ROA). This research uses documentation method with secondary data obtained from the Bank Indonesia website, the Central Statistics Agency and the respective Bank's website. The sampling technique used in this study using a purposive sampling method, so the number of samples is used in this study amounted to 7 Islamic banks in Indonesia. Technique data analysis uses multiple linear regression analysis, classical assumption test and significance test. The results showed, partial inflation was not significant effect on Return On Assets (ROA). The money supply partially negative and significant effect on Return On Assets (ROA). Gross Domestic Product has a positive and significant effect on Return On Assets (ROA). Whereas simultaneously shows inflation, amount money supply and gross domestic product have a significant effect on Return On Assets (ROA).

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PENGARUH VARIABEL MAKROEKONOMI TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG)

Media Ekonomi ◽

10.25105/me.v26i1.5163 ◽

2019 ◽

Vol 26 (1) ◽

pp. 47

Author(s):

Nency Megawati ◽

M. Noor Salim

Keyword(s):

Regression Analysis ◽

Exchange Rate ◽

Data Analysis ◽

Stock Price ◽

Price Index ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Macroeconomic Variables ◽

Jones Index ◽

Stock Price Index

This study aims to analyze the macroeconomic variables that affect the Composite Stock Price Index (CSPI). Data analysis using multiple linear regression analysis with 32 stock samples during the period of Quarter I 2009 to Quarter IV 2016. The results showed that the Exchange Rate and Dow Jones Index had a positive and significant effect on the Composite Stock Price Index (CSPI), Inflation and the BI Rate had no significant effect on the Composite Stock Price Index (CSPI).

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EVALUASI FAKTOR EKONOMI MAKRO DALAM MEMPENGARUHI HARGA SAHAM

AKURASI: Jurnal Riset Akuntansi dan Keuangan ◽

10.36407/akurasi.v2i1.155 ◽

2020 ◽

Vol 2 (1) ◽

pp. 21-28

Author(s):

Slamet Ardi Restiawan ◽

Rinda Asytuti

Keyword(s):

Regression Analysis ◽

Exchange Rate ◽

Money Supply ◽

Stock Price ◽

Hypothesis Test ◽

Linear Regression Analysis ◽

Secondary Data ◽

Multiple Linear Regression Analysis ◽

Analysis Method ◽

Test Requirements

This study was used to determine the effect of macro economy on stock price of PT Telkom's. The condition of macro economic includes SBI, rupiah exchange rate, inflation, and also money supply. This type of research is quantitative using secondary data. The data taken is monthly closing of each variable, the sample used is saturated as much as 48 months. The data analysis method used is multiple linear regression analysis which previously met the classic assumption test requirements and also the hypothesis test. From the results of the analysis, it is known that SBI, rupiah exchange rate, inflation, money supply affect the stock price. Implications and suggestions are explained in the article

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PENGARUH FAKTOR FUNDAMENTAL MAKRO DAN MIKRO TERHADAP NILAI PERUSAHAAN (STUDI PADA SAHAM PERUSAHAAN SEKTOR INFRASTRUKTUR DAN SEKTOR KONSTRUKSI YANG TERDAFTAR DI BEI PERIODE 2015 – 2017

JMM UNRAM - MASTER OF MANAGEMENT JOURNAL ◽

10.29303/jmm.v7i2.384 ◽

2018 ◽

Vol 7 (2) ◽

pp. 86

Author(s):

Ahmad Fatoni Karim Amirullah ◽

Hermanto Hermanto ◽

I Nyoman Nugraha AP

Keyword(s):

Regression Analysis ◽

Exchange Rate ◽

Exchange Rates ◽

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Construction Sector ◽

Research Criteria ◽

Dominant Influence

This study aims to determine the effect of macro and micro fundamental factors on the company’s value, and the object of research were infrastructure sector companies and construction sector companies on the Indonesia Stock Exchange (IDX) in the period 2015 to 2017. Fundamental macro factors consist of inflation and exchange rates. While the micro fundamental factors consist of DER and ROE. The type of research used is associative research. The population in this study, 13 companies that were included in the research criteria, which were engaged in the Infrastructure and Construction Sector listed on the Indonesia Stock Exchange (IDX). Data collection techniques are documentation techniques and then the data are analyzed using multiple linear regression analysis. The results of this study indicate that partially, inflation, exchange rates and DER have no effect on firm value. ROE has a positive and significant effect on firm value. The variable that has the most dominant influence on firm value is ROE. This shows that among the research variables, ROE most influences investors' decisions to buy the company's shares. Penelitian ini bertujuan untuk mengetahui pengaruh faktor-faktor fundamental makro dan mikro terhadap nilai perusahaan, yang mengambil objek penelitian pada perusahaan sektor infrastruktur dan sektor konstruksi di Bursa Efek Indonesia (BEI) pada periode 2015 sampai 2017 . Faktor-faktor fundamental makro terdiri dari inflasi dan kurs. Sedangkan faktor-faktor fundamental mikro terdiri dari DER dan ROE.Jenis penelitian yang digunakan adalah penelitian asosiatif. Populasi dalam penelitian ini adalah 13 perusahaan yang masuk kriteria penelitian, yang bergerak pada Sektor Infrastruktur dan Sektor Konstruksi yang listed di Bursa Efek Indonesia (BEI). Teknik pengumpulan data adalah teknik dokumentasi dan selanjutnya data dianalisis menggunakan analisis regresi linier berganda. Hasil penelitian ini menunjukan bahwa secara parsial, inflasi, kurs dan DER tidak berpengaruh nilai perusahaan. ROE berpengaruh positif dan signifikan terhadap nilai perusahaan. Variabel yang mempunyai pengaruh paling dominan terhadap nilai perusahaan adalah ROE. Hal ini menunjukkan di antara variabel-variabel penelitian, ROE yang paling mempengaruhi keputusan investor untuk membeli saham prtusahaan tersebutKeywords : inflation, exchange rate, DER and ROE

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Pengaruh Variabel Ekonomi Makro Pada Nilai Intrinsik Saham

E-Jurnal Akuntansi ◽

10.24843/eja.2019.v27.i03.p28 ◽

2019 ◽

pp. 2406

Author(s):

I Komang Gede Darma Putra Sadia ◽

I Gde Ary Wirajaya

Keyword(s):

Exchange Rate ◽

Gross Domestic Product ◽

Stock Exchange ◽

Intrinsic Value ◽

Linear Regression Analysis ◽

Secondary Data ◽

Sampling Technique ◽

Total Sample ◽

Annual Reports ◽

Domestic Product

The purpose of this study was to find out and obtain empirical evidence of the effect of the rupiah exchange rate and gross domestic product on the intrinsic value of shares. The population of this study is non-financial companies listed on the Indonesia Stock Exchange for the period 2016-2017. The data sources used in this study are secondary data obtained in the annual reports of companies listed on the Indonesia Stock Exchange by accessing the site www.idx.co.id and the company's website. The sampling technique used was purposive sampling with a total sample of 283 companies in 2 years, so that in total 566 total observations were obtained. The data analysis used in this study is multiple linear regression analysis. Based on the results of the analysis it was found that the rupiah exchange rate variable had a negative effect on the intrinsic value of shares. While the gross domestic product variable has a positive influence on the intrinsic value of shares. Keywords: Price Earning Ratio, Rupiah Exchange Rate, Gross Domestic Product

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