Analisis Pengaruh Inflasi, Suku Bunga  Dan Nilai Tukar Terhadap Indeks Harga Saham Gabungan  Pada Sektor Pertambangan

Suharni .; Masithah Akbar

Analisis Pengaruh Inflasi, Suku Bunga Dan Nilai Tukar Terhadap Indeks Harga Saham Gabungan Pada Sektor Pertambangan

Suharni ., Masithah Akbar

Abstract

This study aims to empirically examine the effect of several macroeconomic variables consisting of movements in the inflation rate, changes in bank interest rates and the exchange rate of the rupiah against the dollar on the stock market represented by the Composite Stock Price Index or CSPI in the mining sector. The analysis was conducted on 49 companies engaged in the mining sector which are listed on the Indonesia Stock Exchange with a period of January 2016 to December 2018 in the form of monthly data. Data was obtained from the official website of the Indonesia Stock Exchange or IDX, Bank Indonesia and the Central Bureau of Statistics. This study uses multiple linear regression analysis using IBM SPSS version 23. The results showed that the independent variable simultaneously had a significant effect on the dependent variable with a significance number of 0,00. Partially, the inflation variable has no significant effect with a significant figure of 0,880. While the interest rate variable has a significant negative effect and the exchange rate has a significant positive effect with the same significance rate of 0,00 on the Composite Stock Price Index of the mining sector. The independent variable that has the most dominant influence is the exchange rate variable seen from the value of the largest standardized coefficient beta from the t test. The analysis shows that the JCI change can be explained by inflation, interest rates and exchange rates of 0,819 or 81,9%, while 18,1% is explained by other variables outside this study.

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