ANALISIS PENGARUH EXCHANGE RATE, INTEREST RATE, DAN INFLATION RATE TERHADAP STOCK PRICE IDX HIGH DIVIDEND 20

Hesniati Hesniati; Junita Junita; Jovianto Jovianto; Saw Liong; Kelvin Kelvin; Jacelyin Jacelyin

doi:10.55681/sentri.v2i6.1041

Authors

Hesniati Universitas Internasional Batam
Junita Universitas Internasional Batam
Jovianto Universitas Internasional Batam
Saw Liong Universitas Internasional Batam
Kelvin Universitas Internasional Batam
Jacelyin Universitas Internasional Batam

DOI:

https://doi.org/10.55681/sentri.v2i6.1041

Keywords:

Harga Saham, Nilai Tukar, Suku Bunga, Inflasi

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh nilai tukar, suku bunga dan inflasi terhadap harga saham pada IDX High Dividend 20. Sampel penelitian ini adalah 20 perusahaan pada IDX High Dividend 20 dalam periode Agustus 2018 sampai dengan Deseember 2022. Pengujian pada penelitian ini adalah regresi panel dan menggunakan metode kuantitatif untuk mengumpulkan data. Hasil penelitian menunjukkan bahwa inflasi mempunyai hubungan yang signifikan pada harga saham. Sedangkan nilai tukar dan suku bunga tidak mempunyai pengaruh pada harga saham.

Downloads

Download data is not yet available.

References

Abdullahi, I. B. (2020). Effect of Unstable Macroeconomic Indicators on Banking Sector Stock Price Behaviour in Nigerian Stock Market. International Journal of Economics and Financial Issues, 10(2), 1–5. https://doi.org/10.32479/ijefi.9041

Amarkhil, D. K., Hussain, J., & Ayoubi, M. (2021). Effect of Exchange Rate on Stock Return. JournalNX, 7(1), 297–310.

Apriansyah, F. Y., Lukiana, N., & Budiwati, H. (2021). Factors Affecting Stock Return of Companies Entered in IDX High Dividend 20. International Journal of Accounting and Management Research, 2(1), 25–29. https://doi.org/https://doi.org/10.30741/ijamr.v2i1.685

Arhenful, P., Ntiamoah, J. A., & Kwaning, C. O. (2022). Analysis of the Interactions between Inflation and Stock Prices in Ghana. Journal of Finance and Economics, 10(2), 51–56. https://doi.org/10.12691/jfe-10-2-4

Devi, Y. V., & Putra, I. S. (2020). Reaksi Pasar terhadap Pengumuman Dividen Perusahaan yang termasuk dalam IDX High Dividend 20 Periode 2019. Jurnal PETA, 5(2), 79–95. https://doi.org/https://doi.org/10.51289/peta.v5i2.446

Dewi, I. P. (2020). Pengaruh Inflasi, Kurs, dan Harga Minyak Dunia terhadap Indeks Harga Saham Gabungan di Bursa Efek Indonesia. Jurnal Ilmu Manajemen, 17(1), 10–19.

Eldomiaty, T., Saeed, Y., Hammam, R., & AboulSoud, S. (2020). The associations between stock prices, inflation rates, interest rates are still persistent: Empirical evidence from stock duration model. Journal of Economics, Finance and Administrative Science, 25(49), 149–161. https://doi.org/10.1108/JEFAS-10-2018-0105

Ervina, N., Azwar, K., Susanti, E., & Nainggolan, C. D. (2022). Effect Of Inflation, Exchange Rates, And Trading Volume Activity On Stock Price Indices During The Covid-19 Pandemic On Companies In The Basic Industry And Chemical Sectors. International Journal of Science, Technology & Management, 3(6), 1650–1658. https://ijstm.inarah.co.id/index.php/ijstm/article/view/693

Fuad, F., & Yuliadi, I. (2021). Determinants of the Composite Stock Price Index (IHSG) on the Indonesia Stock Exchange. Journal of Economics Research and Social Sciences, 5(1), 27–41. https://doi.org/10.18196/jerss.v5i1.11002

Halim, S. (2020). Analysis of the effect on inflation, interest rate, dow jones Islamic Malaysia Index and profitability on stock prices as selected as Indonesia Sharia Stock Index. Journal of Islamic Accounting and Finance Research, 2(2), 259–294. https://doi.org/10.21580/jiafr.2020.2.2.6357

Hesniati, H., Fernado, F., Feblicia, S., Cerina, C., & Angela, A. (2022). Analisis Pengaruh Inflasi, Suku Bunga dan Nilai Tukar Dollar Terhadap Indeks Harga Saham LQ45. Jurnal Sosial Sains, 2(5), 563–571. https://doi.org/10.36418/sosains.v2i5.391

Huy, D. T. N., Dat, P. M., & Anh, P. T. (2020). Building an Econometric Model of Selected Factors’ Impact on Stock Price: A Case Study. Journal of Security and Sustainability Issues, 9(7), 77–93. https://doi.org/http://doi.org/10.9770/jssi.2020.9.M(7)

Jefry, J., & Djazuli, A. (2020). The Effect of Inflation, Interest Rates and Exchange Rates on Stock Prices of Manufacturing Companies in Basic and Chemical Industrial Sectors on the Indonesia Stock Exchange (IDX). International Journal of Business, Management & Economics Research, 1(1), 34–49. https://doi.org/10.47747/ijbmer.v1i1.49

Jihadi, M., Safitri, I. H., & Brahmawati, D. (2021). The Effect Of Exchange Rates Towards Stock Return Mediated With Inflation Rates And Interest Rates. Jurnal Reviu Akuntansi Dan Keuangan, 11(2), 383–392. https://doi.org/10.22219/jrak.v11i2.16320

John, E. I. (2019). Effect of Macroeconomic Variables on Stock Market Performance in Nigeria. Journal of Economics, Management and Trade, 22(6), 1–14. https://doi.org/10.9734/jemt/2019/v22i630110

Karamoy, H., & Tulung, J. E. (2020). The Effect of Financial Performance and Corporate Governance to Stock Price in Non-Bank Financial Industry. Corporate Ownership & Control, 17(2), 97–103. https://doi.org/10.22495/cocv17i2art9

Kholijah, S., Qodari, A., Sari, Y., Cakranegara, P. A., & Soukotta, A. (2022). The Effect of Exchange Rate and Inflation on the Composite Stock Price Index. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5(3), 22296–22302. https://doi.org/10.36555/almana.v6i2.1914

Lu, W., Li, J., Li, Y., Sun, A., & Wang, J. (2020). A CNN-LSTM-Based Model to Forecast Stock Prices. Complexity, 2020. https://doi.org/10.1155/2020/6622927

Lumbanbatu, G. A., Nasution, A. A., & Adnan, A. (2021). Effect of Current Ratio, Return on Equity, Debt to Equity Ratio, and Earnings per Share on Stock Returns of Mining Companies Listed on the Indonesia Stock Exchange. Budapest International Research and Critics Institute-Journa, 4(3), 4967–4982. https://doi.org/10.33258/birci.v4i3.2283

Nafiah, R. (2019). Analisis Pengaruh Rasio Keuangan dan Variabel Makroekonomi terhadap Harga Saham (Studi Kasus pada Perusahaan Perbankan yang masuk dalam Indeks LQ45). Jurnal Masgarif Al-Syariah: Jurnal Ekobomi Dan Perbankan Syariah, 4(2), 125–140.

Rahayu, T. N., & Masud, M. (2019). Pengaruh Tingkat Suku Bunga, Nilai Tukar Rupiah dan Volume Perdagangan Saham Terhadap Harga Saham Perusahaan Manufaktur. PARADOKS : Jurnal Ilmu Ekonomi, 2(2), 35–46. https://doi.org/10.33096/paradoks.v2i2.166

Ramli, C. A. (2021). Analisis Pengaruh Faktor Fundamental dan Makro Ekonomi terhadap Return Saham (Studi Kasus pada Industri Makanan Dan Minuman yang Terdaftar di Bursa Efek Indonesia periode 2011-2015). JISIP (Jurnal Ilmu Sosial Dan Pendidikan), 5(2), 517–528. https://doi.org/https://doi.org/10.58258/jisip.v5i2.1973

Rismala, R., & Elwisam, E. (2020). Pengaruh Inflasi, Bi Rate, Kurs Rupiah, Dan Harga Emas Dunia Terhadap Indeks Harga Saham Sektor Pertambangan Di Indonesia. Oikonomia: Jurnal Manajemen, 15(2), 80–97. https://doi.org/10.47313/oikonomia.v15i2.753

Sebo, S. S., & Nafi, M. (2021). Pengaruh Inflasi, Nilai Tukar, Suku Bunga, Dan Volume Transaksi Terhadap Harga Saham Perusahaan Pada Kondisi Pandemi Covid-19. Jurnal Akuntansi Dan Perpajakan, 6(2), 113–126. https://doi.org/10.26905/ap.v6i2.5358

Sholihah, K. N., & Primasari, N. S. (2021). Indonesia Stock Price Index, Inflation, Interest Rate and Exchange Rate against ISSI. JEBA (Journal of Economics and Business Aseanomics), 6(1), 98–108. https://doi.org/10.33476/j.e.b.a.v6i1.1929

Sulastri, T., & Suselo, D. (2022). Pengaruh Inflasi, Suku Bunga dan Nilai Tukar Terhadap Harga Saham PT. Telekomunikasi Indonesia Tbk. Jurnal Pendidikan Ekonomi Manajemen Dan Keuangan, 6(1), 29–40. https://doi.org/10.25105/jet.v2i2.14546

Sulia Sukmawati, U., Kusnadi, I., & Ayuni, S. (2020). Pengaruh Inflasi, Pertumbuhan Ekonomi, Dan Nilai Tukar Rupiah Terhadap Harga Saham Syariah Pada Jakarta Islamic Index Yang Lesting Di Bursa Efek Indonesia Tahun 2015-2019. Jurnal Alwatzikhoebillah : Kajian Islam, Pendidikan, Ekonomi, Humaniora, 6(2), 54–69. https://doi.org/10.37567/alwatzikhoebillah.v6i2.338

Suwendiyanti, R., & Gantino, R. (2022). Analysis on Ex-Dividend Phenomenon before and During COVID-19 Pandemic in Indonesia ( Study on Index IDX High Dividend 20 ). East African Scholars Journal of Economics, Business and Management, 5(1), 1–10. https://doi.org/10.36349/easjebm.2022.v05i01.001

Tammu, R. G. (2020). Pengaruh Inflasi dan Suku Bunga Bank Indonesia Terhadap Indeks Harga Saham Gabungan (IHSG) Periode 2014 – 2018. Jurnal of Economic Management, and Accounting (JEMMA), 3(4), 62–66. https://doi.org/http://dx.doi.org/10.35914/jemma.v3i1.343

Wicaksana, G. O., & Pracoyo, A. (2020). Analysis the Influence of ROE, DER, Inflation and Exchange Rate on LQ45 Company Price 2013-2017 Period. Jurnal Ilmu Manajemen & Ekonomika, 11(2), 81. https://doi.org/10.35384/jime.v11i2.145

Wijaya, A. B., & Nuryasman. (2022). Pengaruh Variabel Makroekonomi dan Rasio Keuangan terhadap Harga Saham. Jurnal Manajerial Dan Kewirausahaan, 04(01), 12–21. https://doi.org/https://doi.org/10.24912/jmk.v4i1.17118

Wulandari, S., Hutabarat, S. A., Sihombing, T., Simanjuntak, M., & Khairani, R. (2021). Pengaruh Inflasi, BI Rate Dan Nilai Kurs Dollar As Terhadap Indeks Harga Saham Gabungan (IHSG) Yang Terdaftar Di Bursa Efek Indonesia (BEI). Journal of Economic, Bussines and Accounting (COSTING), 4(2), 779–786. https://doi.org/10.31539/costing.v4i2.2049

Yusuf, M., Ichsan, R. N., & Suparmin, S. (2021). Influence Of BI Rate, FED Rate, And Inflation On Composite Stock Price Index (JCI). Journal of Management and Business Innovations, 3(01), 9. https://doi.org/10.30829/jombi.v3i01.9459