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All Journal JPNM : Jurnal Pustaka Nusantara Multidisiplin Ekopedia: Jurnal Ilmiah Ekonomi Indonesia Economic Journal
Nafsa Qolbina Istigfari
Universitas Muhammadiyah Bandung
Religion Humanities Economics, Econometrics & Finance Education Social Sciences

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Pengaruh Kurs dan Inflasi Terhadap Harga Saham Perusahaan IDX-MES BUMN 17 Nafsa Qolbina Istigfari; Astri Astri; Syahla Nur Fikriyyah; Sintia Anggraeni; Alfiana Alfiana
Indonesia Economic Journal Vol. 2 No. 1 (2026): JANUARI-JUNI
Publisher : Indo Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63822/bd0b7h44

Abstract

This study aims to analyze the effect of exchange rates and inflation on the stock prices of companies listed in the IDX-MES BUMN 17 index during the 2020–2024 period. Exchange rate fluctuations and inflation rates are macroeconomic indicators that frequently influence capital market movements, making it important to examine how these variables impact the stock prices of companies that play a strategic role in the national economy. This study uses secondary data in the form of the rupiah exchange rate set by Bank Indonesia. The exchange rate indicator is the rupiah exchange rate against the US dollar (US$). The annual inflation rate was obtained from the Central Statistics Agency (BPS) and the year-end stock prices of each company (closing price) included in the study sample. This research is quantitative. The analytical method used is multiple linear regression using the e-Views software program. The results show that the exchange rate has a significant effect on stock prices. Meanwhile, inflation has no effect on stock prices.
Pengaruh Nilai Tukar dan Debt to Equity Ratio terhadap Harga Saham pada Industri Makanan dan Minuman di Indonesia Astri Astri; Nafsa Qolbina Istigfari; Syahla Nur Fikriyyah; Sintia Anggraeni; Alfiana Alfiana
Indonesia Economic Journal Vol. 2 No. 1 (2026): JANUARI-JUNI
Publisher : Indo Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63822/vhr1f133

Abstract

This study aims to analyze the effect of the exchange rate (KURS) and the Debt to Equity Ratio (DER) on stock prices in food and beverage subsector companies in Indonesia. Using panel data for the 2021-2024 period using the Random Effects Model (REM) method, this study aims to demonstrate the partial and simultaneous effects of these two independent variables. The results show that the KURS has a positive and significant effect on stock prices, while the DER has no significant effect partially. However, the results indicate that simultaneously, the KURS and DER have a significant effect on stock prices, with an R-squared value of 16,56%, indicating that most of the stock price variation is explained by factors other than the model. This finding emphasizes the importance of exchange rate stability for capital market performance and suggests that leverage structure is not a primary determinant in investor assessments in the food and beverage subsector.
Pengaruh Biaya Operasional (BOPO) Dan Non-Performing Loan (NPL) Terhadap Return Of Asset (ROA) Pada Perusahaan Perbankan Yang Terdaftar Di BEI Periode 2020-2024 Pujiyanti Pujiyanti; Sinta Amalia; Nafsa Qolbina Istigfari; Sri Yulandasari Lajai; Alfiana Alfiana
Ekopedia: Jurnal Ilmiah Ekonomi Vol. 2 No. 1 (2026): JANUARI-MARET
Publisher : Indo Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.63822/adh1xh76

Abstract

This study examines the effect of BOPO and NPL on Return on Assets (ROA) in banking companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The data were processed using EViews 12 through panel data regression, which included data preparation, descriptive statistics, normality testing, panel-specific diagnostic tests, and model selection using the Chow, Hausman, and LM tests. The results indicate that the Random Effect Model (REM) is the most appropriate model for this research. The findings show that BOPO has a negative and significant effect on ROA, while NPL has a negative but insignificant effect. Simultaneously, both variables significantly influence ROA, with an R² of 93.03%, indicating strong explanatory power. The study concludes that operational efficiency plays a major role in determining bank profitability, whereas credit risk does not significantly affect ROA during the study period.
Penerapan Lindung Nilai Kontrak Forward dalam Meminimalkan Risiko Eksposur Transaksi Perusahaan PT Unilever Indonesia Tbk (Laporan Keuangan Tahun 2025 Kuartal III) Ayyu Astri Wiguna; Nafsa Qolbina Istigfari; Nopiyanti Rahmawati; Perwito
JPNM Jurnal Pustaka Nusantara Multidisiplin Vol. 4 No. 1 (2026): February : Jurnal Pustaka Nusantara Multidisiplin (ACCEPTED)
Publisher : SM Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59945/jpnm.v4i1.1023

Abstract

Penelitian ini bertujuan untuk menganalisis penerapan lindung nilai menggunakan kontrak forward dalam meminimalkan risiko eksposur transaksi pada PT Unilever Indonesia Tbk berdasarkan laporan keuangan Kuartal III tahun 2025. Metode penelitian yang digunakan adalah deskriptif kuantitatif dengan pendekatan studi kasus melalui perhitungan forward rate, premi atau diskon, serta perbandingan nilai pembayaran menggunakan dan tanpa hedging. Hasil penelitian menunjukkan bahwa kontrak forward yang dilakukan perusahaan menghasilkan forward premi dan memberikan manfaat finansial berupa penghematan pembayaran dibandingkan tanpa lindung nilai
Co-Authors Alfiana Astri Astri Ayyu Astri Wiguna Nopiyanti Rahmawati Perwito Pujiyanti Pujiyanti Sinta Amalia Sintia Anggraeni Sri Yulandasari Lajai Syahla Nur Fikriyyah