DAMPAK NILAI TUKAR DAN SUKU BUNGA TERHADAP HARGA SAHAM DI INDONESIA
ABSTRACT: This article
is aimed at
empirically exploring the impacts
of foreign exchange
and interest rate
to stock market in
the open-big Indonesian
economy. A quarterly data spanning from 1995.Q3 to 2009.Q1 sourced from
the International Financial
Statistics (IFS), International Monetary Funds (IMF) were used and
analysed by the multiple regression and Granger causality techniques. The study
documented that both foreign exchange and interest rate have negatively and significantly
affected the Indonesian stock market. This implied that the depreciation of the
Indonesian Rupiah and decline of interest rate have increased the values of the
stocks. Thus, to gain a maximum benefits from investing in the stock market,
investors should take into account the changes in foreign exchange and interest
rate in making their investment decisions.
Penulis: M. Shabri Abd. Majid
Kode Jurnal: jpmanajemendd140524
