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Silaban, Jenti Natalia
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Economics, Econometrics & Finance

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DO MACROECONOMIC FACTORS AFFECT THE COMPOSITE STOCK PRICE INDEX? Sianipar, Milka Rositi; Susilowati, Alicia Ulina; Tumangger, Ayu Bonita Sari; Silaban, Jenti Natalia; Hou, Amin; Rosita, Rosita
SULTANIST: Jurnal Manajemen dan Keuangan Vol. 12 No. 1 (2024)
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung Pematangsiantar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/sultanist.v12i1.563

Abstract

The movement of the stock market index is a barometer of economic growth, and can be used to make investment decisions. Many factors influence the movement of a stock index, particularly from the macroeconomic perspective. This study analyzes the effects of BI rate, exchange rate, and inflation on the Composite Stock Price Index (CSPI). This research is a quantitative descriptive study conducted on food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2018-2022 period. Sixty companies were sampled and analyzed using multiple linear regression tests. Hypothesis testing uses the R2 (coefficient of determination) test, F, and t-tests. The results show that BI and exchange rates have a partially significant effect on CSPI. Inflation did not have a significant effect on the CSPI. However, simultaneous testing showed that the three variables affected the CSPI.
Co-Authors Amin Hou Milka Rositi Sianipar Rosita Rosita Susilowati, Alicia Ulina Tumangger, Ayu Bonita Sari