The Influence of Macroeconomic Factors on the Volatility of Composite Price Stock Index: A Study on the Indonesia Stock Exchange
DOI:
https://doi.org/10.61841/yjttzs12Keywords:
Economic Growth, Inflation, Exchange Rates, Gold Prices, Composite Stock Price IndexAbstract
Composite stock price index volatility has experienced ups and downs in the last period due to internal and external factors of several companies. It has an impact on the national economic level and decreased investment climate. This research aims to determine the effect of macroeconomic factors on the volatility of the composite stock price index in the Indonesia stock exchange period 2013-2017. The research method used is purposive sampling with a total data of 300 samples. Multiple regression analysis at the 5% significance level through the application of the view program plus several forms of testing to produce an appropriate recommendation. The results showed that the factors of economic growth, the exchange rate and the price of gold significantly influenced the volatility of the composite stock price index, while the inflation factor did not significantly influence the volatility of the composite stock price index.
Downloads
References
1. Jogiyanto Hartono, 2013. Portfolio Theory and Investment Analysis, 8th Edition. Yogyakarta. BPFE
2. Sukirno, Sadono. 2016.Introduction to Macroeconomics the Third Edition. Jakarta. Rajawali Press.
3. Kewal., S, Suci. 2012. Influence of Inflation, Interest Rates, Exchange Rates, and GDP Growth on the Composite Stock Price Index. Jurnal Economia, Vol 8 No.1.
4. Pujoalwanto, Basuki. 2014. Indonesia's Economy: Historical, Theoretical and Empirical Review. Yogyakarta: Graha Science.
5. Komariah, Siti., Julenah., M, Chudori. 2011. Stock Returns, Inflation, and Ownership Structure Against Investment Risk. Journal of Finance and Banking, Merdeka University of Malang. Vol 15 No.3.
6. Amin, M. Z & Herawati, TJ 2012. The Influence of Inflation Rate, Sbi Interest Rate, Dollar Exchange Rate (USD/ IDR), and Dow Jones Index (DJIA) on the Movement of Indonesia Stock Exchange Index (IDX) Period 2008-2011.Thesis Journal of Universitas Brawijaya. 2-14.
7. Nuryaman and Veronica Christina. 2015. Accounting and Business Research Methodology: Theory and Practice. Bogor: Ghalya Indonesia.
8. Sekaran, Uma and Roger Bougie. 2017. Research Methods for Business: Expertise-Development Approach, Issue 6, Book 2. Jakarta. Salemba Empat.
9. Sugiyono 2016. Qualitative and Combative Quantitative Research Methods (Mixed Methods). Bandung. Alfabeta.
10. Sunariyah. 2011. Introduction to Capital Market Knowledge, 6th Edition. Yogyakarta: UPP STIM YKPN.
11. Samsul, Mohamad. 2008. Capital Markets and Portfolio Management. Jakarta: Erlangga.
Downloads
Published
Issue
Section
License
You are free to:
- Share — copy and redistribute the material in any medium or format for any purpose, even commercially.
- Adapt — remix, transform, and build upon the material for any purpose, even commercially.
- The licensor cannot revoke these freedoms as long as you follow the license terms.
Under the following terms:
- Attribution — You must give appropriate credit , provide a link to the license, and indicate if changes were made . You may do so in any reasonable manner, but not in any way that suggests the licensor endorses you or your use.
- No additional restrictions — You may not apply legal terms or technological measures that legally restrict others from doing anything the license permits.
Notices:
You do not have to comply with the license for elements of the material in the public domain or where your use is permitted by an applicable exception or limitation .
No warranties are given. The license may not give you all of the permissions necessary for your intended use. For example, other rights such as publicity, privacy, or moral rights may limit how you use the material.
