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All Journal Excellent PERMANA Journal of Economic, Bussines and Accounting (COSTING) Jurnal Disrupsi Bisnis Abdimas Awang Long: Jurnal Pengabdian dan Pemberdayaan Masyarakat JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi) Indonesian Financial Review International Journal of Education and Social Science (IJESS) CEMERLANG :Jurnal Manajemen dan Ekonomi Bisnis Jurnal Mahasiswa Mengabdi (JIMAWAbdi) IJBEM : Indonesian Journal of Business Economics and Management Journal of Research and Publication Innovation JABKO: Jurnal Akuntansi dan Bisnis Kontemporer Konsentrasi: Jurnal Manajemen dan Bisnis Jurnal Ilmiah Swara MaNajemen (Swara Mahasiswa Manajemen) Jurnal Lentera Pengabdian Transforma: Jurnal Manajemen Sepakat : Sesi Pengabdian Kepada Masyarakat Jurnal Pengabdian Masyarakat ISEI JURNAL AKADEMIK EKONOMI DAN MANAJEMEN Jurnal Pengabdian Masyarakat Cakrawala: Jurnal Ekonomi, Manajemen dan Bisnis Journal of Information System & Business Management (ISBM)
Tri Sulistyani
Unknown Affiliation
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Physics Social Sciences Other

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Journal : Indonesian Financial Review

 1 
An Empirical Analysis of the Effects of Interest Rates and Exchange Rates on Stock Prices: Evidence from Astra International Plc Gunawan, Hendri; Lisdawati, Lisdawati; Sulistyani, Tri
Indonesian Financial Review Vol. 5 No. 2 (2025)
Publisher : Yayasan Pendidikan Penelitian Pengabdian Al-amsi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55538/ifr.v5i2.120

Abstract

This study examines the effect of interest rates and exchange rates on stock prices of PT Astra International Tbk during the 2015–2024 period. Using a quantitative approach, the research applies multiple linear regression to secondary time-series data from Bank Indonesia and Investing.com. Classical assumption tests were conducted to ensure model reliability. The results show that interest rates do not have a significant partial effect on Astra’s stock price, while the exchange rate has a negative and significant influence. Simultaneously, interest rates and exchange rates do not significantly affect stock prices. The coefficient of determination indicates that 54.4 percent of stock price variation is explained by the two macroeconomic variables. These findings imply that exchange rate movements play a more important role than interest rates in shaping Astra’s stock performance and provide insights for investors in the Indonesian capital market.
Co-Authors Abdilah, Riana Ace Iwan Suryawan, Ace Iwan Ahmad Fahrudin Alfarizi, Muhammad Faisal Alvina Ghalda Amalia, Lala Amalya, Neneng Tita Amirah Amlya, Neneng Tita Anismadiyah, Vega Astri Wardani, Nicky Aulia, Cairin Catur Wahyudi, Catur Dian Sari EKA RAHAYU Eva Novita Fadli Rojulmubin Fadli Saputra Fairuz, Januar Farah Fakhresi, Aditya Rizky Febri, Davidya Febriyanah, Winny Vidya Hardiyanti, Vidya Nova Harianja, Sonta Harsono, Yhonanda Hendri Gunawan Hermawan, Yuniarti Hermawati, Linda Hidayah, Nurlaeli Irawati Irawati Jalari, Muhammad Kartika, Lusiana Dwi Khamila, Dian Lilis Kurniawan, Andika Dwi Lisdawati Lisdawati Lisdawati Mahben Jalil Mei Rani Amalia Mohammad Arridho Nur Amin Muawanah, Hani Mufida, Zahrotul Muhammad Andhika Nauvalia, Friska Ade Neneng Tita Amalya Purwacasila, Riri Rizqi, M. Salsabila, Silvi Atwa Setiyawan, Dhani Ari Setyowati Subroto Sofia, Farha Sri Murdiati Sri Murdiati Sujarwo, Makmur Sukamto, Ika Sumiyarsi Sumarno Susanti, Fahmi Susilawati, Agnes Dwita Suwandi Suwandi Syahfitri, Rara Tabrani Taufik Awaludin, Taufik Tawaqal, Fitriyya Tegar Pratama Trisnawati, Ayu Uryanti, Yaya Wahyudi, Catu Yhonanda Harsono Yuniarti Herwinarni Yunita, Eva Anggra