PENGARUH VARIABEL MAKROEKONOMI DAN INDEKS HARGA SAHAM LUAR NEGERI TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) DI BURSA EFEK INDONESIA (BEI)
ABSTRACT: Capital market is
one of today’s economic instrument that has developed rapidly. One way to
measure the performance of capital market is a stock index. Some factors can
affect the stock index, such as domestic interest rates, foreign exchange
rates, international economic conditions, the country’s economic cycle,
inflation rates, tax regulations, the amount of money in circulation.The
purpose of this study was to analyze the effect of Interest Rates, Inflations,
Exchange Rate of Rupiah, Money Supply, Dow Jones Index variable for the
volatility of IHSG in BEI (Bursa Efek Indonesia). The method used multiple
linier regression analysis. After that, we must do a classical assumption test
in order to make sure that the regression equation is BLUE (Best, Linear,
Unbiased, Estimator). In addition, to assess the goodness of fit from a model,
we use coefficient of determination test, F test and t test. The data for this
research were a monthly data from 2007 – 2010 for each variable. The results of
this study indicate that the SBI Interest Rates, and Rupiah Exchange rate were negatively
affected by IHSG. While the variables inflations, money supply and Dow Jones
Indeks had a positive effect on IHSG. For the F test, that’s all the
independent variable affected the IHSG.
Keywords: IHSG, Interest Rate,
Inflation, Exchange Rate, Money Supply, and Dow Jones Indeks
Penulis: Yuliana Subastine,
Syamsudin
Kode Jurnal: jpmanajemendd100153
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