Determinasi Indeks Harga Saham Di Indonesia: Studi Di Indonesia Tahun 1992-2022

Altis Puspa Gatari, Lestari Sukarniati

Abstract


The Stock Price Index is an issue of great concern to every country, both developed and developing countries such as Indonesia. Investors must conduct careful analysis and understand the risks associated with investing in the stock market because stock index movements are not always linear and can be influenced by news, market valuations, or other factors. The purpose of this study is to analyze the factors that affect the Stock Price Index in Indonesia in the form of Interest Rate, Inflation, Exchange Rate and Money Supply (JUB) variables. The contribution of this study is to examine the transmission and impact of shocks to the independent variables mentioned. This study uses the Ordinary Least Squares Regression (OLS) method approach with time-series data with a total of 30 observations. Sourced secondary data from Bank Indonesia (BI) and the Central Bureau of Statistics (BPS). The results show that interest rates and inflation have a negative effect while the exchange rate and money supply have a positive effect. The results of this study indicate that the Indonesia Stock Exchange (IDX) must take appropriate measures to create an efficient, transparent, and fair market for investors in stock trading in Indonesia.

Keywords


Stock Price Index; Interest Rate; Inflation; Exchange Rate; Money Supply; Ordinary Least Squares Regression (OLS)

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References


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