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Journal : Indonesian Journal of Advanced Research (IJAR)

The Influence of World Oil Prices and Economic Growth on the Composite Stock Price Index through Foreign Exchange Rates on the Indonesia Stock Exchange Farid, Muhammad; Yuniningsih, Yuniningsih; Handayani , Wiwik
Indonesian Journal of Advanced Research Vol. 3 No. 9 (2024): September 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/ijar.v3i9.11446

Abstract

This study uses the foreign exchange rate to investigate how the Indonesia Stock Exchange's Composite Stock Price Index is affected by growing oil prices and economic growth. The study's population consists of all data on the Indonesia Stock currency's Composite Stock Price Index (JCI), as well as all data on foreign exchange rates, GDP, and worldwide oil prices from Bank Indonesia for the quarters ending in 2010 and 2020. The analysis technique uses path analysis which is an extension of multiple linear analysis, or path analysis is the use of regression analysis to estimate the causal relationship between variables (causal model), the population used is all composite stock price index data and the sample used is a saturated sample of all combined stock price index data. The results of the study show that the Composite Stock Price Index is influenced by the World Oil Price. There is no contribution from Economic Growth to the Composite Stock Price Index. Foreign exchange rates have an effect on the Composite Stock Price Index based on the price of oil globally. Through foreign exchange rates, economic progress affects the composite stock price index.
Co-Authors Achmad Reza Mufthi Agnes Oktavia Pramitha Alfan Aththor Firdausy Alfi Rizka Ameera, Najwa Saffa Amisha Novita Arif Andhika, Fedherick Anessya Anggia Savitri Ardi Maulana Efendi Ardi Putra Pamungkas Ari, Kavita Aszahra, Jasmine Barid Nizarudin Wajdi Bintang Rahmat Firmansyah Bowo Santoso Bowo Santoso Bowo Santoso Che Zalina bt Zulkifli Clariska Oktania Mega Saputri Da Silva, Dona Maria Evanca Dahlan Abdullah Debriana Anggita A.S Della Aulia Riskha Arifinda Dewi Puji Arofah Dhani Ichsanuddin Nur Dhea Nanda Astimeyra Difa Rachmayanti Difa Rachmayanti Dina Anggraini DINA ANGGRAINI Djuliandhika Rachmaningtyas Dwi Suhartini Farel, Kholin Gio Fauzi, Indra Nur Fedherick Andhika Hanifah Qowiyamatin Hardi Warsono Hardi Warsono, Hardi Warsono Haryanto, Albertus Eka Putra I Putu Artaya Ida Hayu Dwimawanti Intan Sekarsari Ira Wikartika Irvan Romadhon Irvinta Mestika Sari Jannah, Ulfa Rizkiatul Kavita Ari Kustini Kustini Kusumaningsih, Intan Lestari, Sukma Puji Lestari, Veronika Nugraheni Sri Levia Yanuarita Hermida Linggarjati, Vicky Aldo Luqman Ramadhan Margareth, Sylvia Marpudianto, Kharis Mia Debbiyanti Yunita Mohammad Abhinaya Ramadhan Muh Barid Nizarudin Wajdi Muhamad Taufiq Muhammad Farid Muhammad Ikhsan Setiawan Nadela Difia Putri Nafalia Dini Faradilla Nanda Farah Zhafirah Nanda Farah Zhafirah Nisrina Atika Hasna Novita Dwi Agustina Nurmawati Nurmawati Pramono, Anggun Budi Premesti, Ajeng Dwipa Rahman Amrullah Suwaidi Ramadani, Nifta Dwi Rini, Hesty Prima Robby, Uchaimid Biridlo’I Sandika, Dandung Prada Setiawan, Muhammad Ikhsan Sri Winarti Sugeng Purwanto Sugeng Widodo Tutik Winarsih Umar Akbar Veronika Nugraheni Sri Lestari Veronika Nugraheni Sri Lestari Vicky Aldo Linggarjati Wasana Boonsong Wibowo, Andi Satrio Wijaya, Nica Putra Wiwik Handayani Wiwik Handayani Yuni Chikmawati Yusril Andrianto Zuni Rochmawati