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All Journal International Journal of Economics Development Research (IJEDR) Jurnal Ilmiah Akuntansi Kesatuan
Nirsetyo Wahdi
Universitas Semarang, Indonesia
Economics, Econometrics & Finance Social Sciences

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The Influence Of The Rupiah Exchange Rate, Inflation And Interest Rates On Investment Returns On Islamic Life Insurance Companies In Indonesia Stock Exchange For The 2018-2020 Period Anton Priyo Nugroho; Ardiani Ika Sulistyawati; Nirsetyo Wahdi; Arief Himmawan Dwi Nugroho; Emaya Kurniawati
International Journal of Economics Development Research (IJEDR) Vol. 4 No. 1 (2023): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v4i2.3114

Abstract

Investment opportunities greatly determine the company value based on formed share prices. Growth of capital is often observed by the indicator of the market Stock Price Index. Stock Price Index fluctuation is significant to determine whether investors will sell, hold, or buy more shares. This study aims to analyze and examine the factors influencing the exchange rate, inflation and interest rates on return investment in the Sharia Life Insurance Companies in the period 2018-2020. The method of research is using the quantitative and regression analysis. The sample is the Sharia Life Insurance Companies which are consistenly publish financial reports for the 2018-2020 period listed on the Indonesia Stock Exchange with a total sample of 52 companies. The sampling technique is non-probability sampling with saturated sampling method. The data was analyzed with IBM SPSS version 21 and was carried out by several tests such as validity test, reliability test, classic assumption test, linear regression analysis and coefficient of determination test. The results of this study indicate that the exchange rate, inflation and interest rates simultaneously and significantly influence on investment returns. The results of the partial test demonstrates that the exchange rate, inflation and interest rates have a significant but negative effect on return investment. If the exchange rate increases, investors will not be interested in holding their shares. It causes the investor not interested to switch their portfolio into deposit because of the low interest rate and the declining trend of inflation, which caused inflation does not have significant effect on return.
Recognizing the Effect of Profitability as a Moderator in Determining Stock Price Changes Nirsetyo Wahdi; Pantun; Adria Wuri Lestari; Aprih Santoso; Dipa Teruna Awaludin
Jurnal Ilmiah Akuntansi Kesatuan Vol. 13 No. 6 (2025): JIAKES Edisi Desember 2025
Publisher : Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jiakes.v13i6.4351

Abstract

Industrial development plays an important role in supporting Indonesia’s economic growth, particularly in the property sector, which attracts increasing investor interest. This study examines the effect of the price earnings ratio, current ratio, and debt to equity ratio on stock prices of property sector companies listed on the Indonesia Stock Exchange, with return on assets as a moderating variable. The study uses panel data from 12 property companies over the 2018–2022 period. Panel data regression with moderation analysis is applied using EViews version 12. The results indicate that the price earnings ratio and return on assets have a significant effect on stock prices, while the current ratio and debt to equity ratio do not show a significant influence. The moderation analysis reveals that Return on Assets strengthens the relationship between the price earnings ratio and stock prices, but does not moderate the effects of liquidity and leverage ratios. The coefficient of determination shows that the independent and moderating variables explain 37.58 % of stock price variation, while the remaining variation is influenced by other factors not examined in this study. These findings provide useful insights for investors and related institutions in evaluating stock price movements in the property sector.
Co-Authors Adria Wuri Lestari Anton Priyo Nugroho Aprih Santoso Ardiani Ika Sulistyawati Arief Himmawan Dwi Nugroho Dipa Teruna Awaludin Emaya Kurniawati Pantun