Vol 11 (2021): May
Finance Management
The Effect of Economic Growth, Inflation Rate, and Interest Rates of Bank Indonesia on the Composite Stock Price Index on the Indonesia Stock Exchange for the 2015-2019 Period Pengaruh Pertumbuhan Ekonomi, Laju Inflasi, Dan Tingkat Suku Bunga Bank Indonesia Terhadap Indeks Harga Saham Gabungan Di Bursa Efek Indonesia Periode 2015-2019
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Published
May 18, 2021
Keywords
- Economic Growth,
- Inflation,
- Interest Rate,
- IHSG
How to Cite
Al Haytami, A. F. A., & Widodo, H. (2021). The Effect of Economic Growth, Inflation Rate, and Interest Rates of Bank Indonesia on the Composite Stock Price Index on the Indonesia Stock Exchange for the 2015-2019 Period. Indonesian Journal of Law and Economics Review, 11, 10.21070/ijler.2021.V11.701. https://doi.org/10.21070/ijler.2021.V11.701
Copyright (c) 2021 Ahmad Firdausi Akmal Al Haytami, Heri Widodo
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
Generally, investors use the Composite Stock Price Index (IHSG) as a parameter of stock performance listed on the Indonesian stock exchange. One of the factors that can affect the IHSG is macroeconomic factors such as economic growth, inflation, and interest rates. This study aims to determine the effect of economic growth, inflation rate, and interest rates of Bank Indonesia on the IHSG. The population and sample in this study are quarterly economic growth, inflation, Bank Indonesia interest rates, the monthly Composite Stock Price Index (IHSG) from 2015-2019. Testing the hypothesis of this study using validity and reliability tests with the SmartPLS version 3 application. The results showed that the variables of economic growth and inflation had no significant effect on the Composite Stock Price Index (IHSG). Meanwhile, the interest rate variable of Bank Indonesia has a significant effect on the IHSG.
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References
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[9] N. Sunardi, L. Nurmillah, and R. Ula, “Pengaruh Bi Rate, Inflasi Dan Kurs Terhadap Indeks Harga Saham Gabungan (Ihsg),” J. Sekuritas, vol. 1, no. 2, pp. 27–41, 2017.
[10] M. M. Ningsih and I. Waspada, “PENGARUH BI RATE DAN INFLASI TERHADAP INDEKS HARGA SAHAM GABUNGAN (Studi Pada Indeks Properti, Real Estate, Dan Building Construction, di BEI Periode 2013 - 2017),” J. MANAJERIAL, vol. 17, no. 2, p. 247, 2018, doi: 10.17509/manajerial.v17i2.11664.
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[13] I. I. Zabidi and N. A. Haryono, “Pengaruh Inflasi, Kurs, Suku Bunga Sbi, Dow Jones, Dan Nikkei 225 Terhadap Indeks Harga Saham Gabungan Pada Bursa Efek Indonesia Periode 2012-2016,” J. Ilmu Manaj., vol. 6, no. 4, pp. 468–476, 2018.
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