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All Journal Adi Widya : Jurnal Pengabdian Masyarakat JIMF (JURNAL ILMIAH MANAJEMEN FORKAMMA) Jurnal MEBIS (Manajemen dan Bisnis) Jurnal Kreativitas dan Inovasi (Jurnal Kreanova) Journal of Artificial Intelligence and Digital Business Indonesia Accounting Research Journal Equilibrium : Journal Of Economics and Development Studies
Patty, Martha Racwel
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Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Languange, Linguistic, Communication & Media Social Sciences Other

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Journal : Indonesia Accounting Research Journal

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Analysis of macroeconomic influence on composite stock price index fluctuations on the Indonesia stock exchange Patty, Martha Racwel
Indonesia Accounting Research Journal Vol. 12 No. 3 (2025): March: Auditing, Finance, Accounting, Management
Publisher : Institute of Accounting Research and Novation (IARN)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/iacrj.v12i3.403

Abstract

This research analyzes the influence of macroeconomic factors, namely the exchange rate of the rupiah against the US dollar, the 7-day BI interest rate, inflation, and money supply, on the fluctuations of the Composite Index of Stock Prices in the Indonesian Stock Exchange during the period 2018-2023. The multiple regression analysis method is used to evaluate the relationship between variables using monthly data. The research results show that the exchange rate of the rupiah has a significant negative influence on the JCI, while the 7-day BI interest rate, inflation, and money supply have a significant positive influence. At the same time, these four variables were shown to significantly influence the JCI. These findings provide information for investors, economic observers, and policymakers to understand the impact of macroeconomic dynamics on the stock market, so that they can help make strategic investment decisions.
Co-Authors de Fretes, Anna Valensia Christianty Kurniawan, Sabda Kurniawan, Sabda Aji Latupapua, Conchita Valentina pradana, Sendy putra Wenno, Meiske