The Analysis of Inflation, Exchange rate, and Benchmark Interest Rate (BI rate) Influences on the Indonesia Composite Index (ICI)
Abstract
This study analyzes the correlation and influence rates of inflation, Bank Indonesia, and the Dollar Exchange (USD/IDR) on the Indonesia Composite Index(ICI) in Indonesia from 2001 to 2021. The type of study used explanatory research with quantitative approach. The research data is in the form of secondary data based on the period in the form of ICI, benchmark interest rate, inflation, and rupiah exchange rate on the US dollar (KURS) obtained from Bank Indonesia (BI), the Indonesia Stock Exchange (IDX), and the Central Statistics Agency (BPS). This study's data complements the latest month's data from the inflation rate, BI Rate, USD/IDR Exchange rate, and combination of the Stock Price Index(ICI) for 2001 to 2021. The analysis method in this study used multiple linear regression models and Ordinary Least Squares (OLS). The results showed that the Ordinary Least Square (OLS) relies on the overall movement of exchange rates in the interest rate based on the Composite IDX.
Downloads
References
Chasanah, N. M., & Aji Prasetyo. (2020). PENGARUH RISIKO LIKUIDITAS DAN PERTUMBUHAN PENJUALAN TERHADAP HARGA SAHAM PADA PERUSAHAAN PROPERTI DAN REAL ESTATE. Majalah Ekonomi, 25(1). https://doi.org/10.36456/majeko.vol25.no1.a2454
Daniswara, H. P., & Daryanto, W. M. (2019). Earning Per Share (Eps), Price Book Value (Pbv), Return on Asset (Roa), Return on Equity (Roe), and Indeks Harga Saham Gabungan (Ihsg) Effect on Stock Return. South East Asia Journal of Contemporary Business, Economics and Law, 20(1).
Edfa, R. A dan Dwita, S. (2019). Pengaruh Informasi Investasi Dan Overconfidence Terhadap Eskalasi Komitmen. Jurnal Eksplorasi Akuntansi, 1(4), 1916–1932. https://doi.org/10.24036/jea.v1i4.186
Ekonomi, F., & Bisnis, D. (2016). PENGARUH INFLASI, JUB, NILAI KURS DOLLAR DAN PERTUMBUHAN GDPTERHADAP IHSG DI BURSA EFEK INDONESIA I Putu Marta Edi Kusuma (1) Ida Bagus Badjra (2) (1)(2). 5(3), 1829–1858.
Hanifah, U. R. N. M. (2017). Embargo Ekonomi sebagai Strategi Konfrontasi Uni Eropa terhadap Rusia pada Masa Konflik Ukraina 2013-2015. JURNAL SOSIAL POLITIK, 3(1). https://doi.org/10.22219/.v2i2.4167
Harsono, A. R., & Wonokinasih, S. (2018). Pengaruh Inflasi, Suku Bunga, Dan Nilai Tukar Rupiah Terhadap INdeks Harga Saham Gabungan (Studi pada Bursa Efek Indonesia Periode 2009-2013 ). Jurnal Administrasi Bisnis, 60(2).
Hartono, J. (2017). Teori portofolio dan analisis investasi ed.11. Yogyakarta: BPFE, 762.
Katmas, E., & Indarningsih, N. A. (2022). The Effect of BI Interest Rate, Exchange Rate, and Inflation on The Indonesian Sharia Stock Index (ISSI). Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 5(2). https://doi.org/10.31538/iijse.v5i2.2144
Khaira, U., Utomo, P. E. P., Suratno, T., & Gulo, P. C. S. (2021). Prediksi Indeks Harga Saham Gabungan (IHSG) Menggunakan Algoritma Autoregressive Integrated Moving Average (ARIMA). JUSS (Jurnal Sains Dan Sistem Informasi), 2(2). https://doi.org/10.22437/juss.v2i2.8449
Khoiri, H. A., & Arghawaty, E. (2020). Menganalisis Nilai IHSG Beserta Faktor-Faktor Yang Mempengaruhi Di Era Pandemik Covid-19. JAD : Jurnal Riset Akuntansi & Keuangan Dewantara, 3(2). https://doi.org/10.26533/jad.v3i2.677
Purwaningsih, S. S. (2019). An Analysis of Influence of Interest Rates, Rupiah Exchange Rates, Gross Domestic Product (GDP), Inflation, and Indonesia Composite Index (ICI) on the Performance of Mutual Funds Using Panel Data Methods. https://doi.org/10.2991/icastss-19.2019.62
Puspitasari Gobel, Y. (2020). PEMULIHAN EKONOMI INDONESIA PASCA PANDEMI COVID-19 DENGAN MENGKOMBINASIKAN MODEL FILANTROPI ISLAM DAN NDEAS MODEL. Jurnal Tabarru’: Islamic Banking and Finance, 3(2). https://doi.org/10.25299/jtb.2020.vol3(2).5809
Sagantha, F. (2021). Pengaruh Inflasi dan IHSG Terhadap Net Asset Value Reksa Dana Syariah. Journal of Islamic Accounting Competency, 1(1).
Senata, M. (2016). Pengaruh Kebijakan Dividen Terhadap Nilai Perusahaan yang Tercatat pada Indeks LQ-45 Bursa Efek Indonesia. Jurnal Wira Ekonomi Mikroskil, 6(1). https://doi.org/10.55601/jwem.v6i1.276
Sugianto, E. (2021). Perkembangan Pasar Modal. OSF Preprints.
Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R&D (1st ed.). Penerbit Alfabeta.
Tambunan, D. (2020). Investasi Saham di Masa Pandemi COVID-19. Widya Cipta: Jurnal Sekretari Dan Manajemen, 4(2). https://doi.org/10.31294/widyacipta.v4i2.8564
Tampi, M. M. (2017). LEGAL PROTECTION FOR BITCOIN INVESTORS IN INDONESIA: TO MOVE BEYOND THE CURRENT EXCHANGE SYSTEM. Jurnal Hukum & Pembangunan, 47(1). https://doi.org/10.21143/jhp.vol47.no1.136
Tanusdjaja, H. (2018). KEPUTUSAN INVESTASI INVESTOR INDIVIDU BERDASARKAN KOMPETENSI, OVERCONFIDENCE, DAN PENDIDIKAN. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 2(1). https://doi.org/10.24912/jmieb.v2i1.998