<![CDATA[ABSTRAKPenelitian ini bertujuan untuk mengetahui pengaruh inflasi, suku bunga, dan nilai tukar rupiah terhadap return saham pada PT. Astra International yang terdaftar di Bursa Efek Indonesia periode 2009-2018. Data yang diamati merupakan laporan kondisi keuangan dari faktor eksternal yaitu inflasi, suku bunga, dan nilai tukar rupiah. Populasi adalah return pada saham PT. Astra International yang terdaftar di Bursa Efek Indonesia, sedangkan sampel menggunakan purposive judgment sampling dengan kreteria perusahaan terdaftar di Bursa Efek Indonesia, sahamnya aktif diperdagangkan, dan data tersedia di Bursa Efek Indonesia dan data inflasi, suku bunga, dan nilai tukar rupiah dari Bank Indonesia periode 2009-2018. Analisis dan pembahasan dilakukan menggunakan metode statistik kuantitatif dengan analisis regresi berganda, Uji t, Uji F, dan Koefisien determinasi yang diuji dengan uji asumsi klasik. Hasil pembahasan diketahui secara parsial signifikan untuk variabel inflasi sebesar 0,55 > 0,05 sehingga disimpulkan bahwa H0 diterima dan Ha ditolak yang artinya tidak terdapat pengaruh signifikan dari variabel inflasi terhadap return saham, hasil dari variabel suku bunga diperoleh hasil sebesar 0,012 < 0,05 sehingga disimpulkan bahwa terdapat pengaruh signifikan dari variabel suku bunga terhadap return saham. Variabel nilai tukar diperoleh hasil sebesar 0369 > 0,05 sehingga disimpulkan bahwa tidak terdapat pengaruh signifikan dari variabel nilai tukar rupiah terhadap return saham. Sedangkan secara simultan hasil penelitian menunjukkan bahwa variabel inflasi, suku bunga, dan nilai tukar rupiah terhadap return saham diperoleh hasil sebesar 0,044 < 0,05 dengan demikian dapat disimpulkan bahwa secara simultan terdapat pengaruh signifikan dari variabel inflasi, suku bunga, dan nilai tukar rupiah terhadap return saham. Kata Kunci : Inflasi, Suku Bunga, Nilai Tukar Rupiah, Return Saham ABSTRACT This study aims to determine the effect of inflation, interest rates, and the rupiah exchange rate on stock returns at PT. Astra International listed on the Indonesia Stock Exchange for the period 2009-2018. The observed data are financial condition reports from external factors, namely inflation, interest rates, and the rupiah exchange rate. Population is the return on PT. Astra International is listed on the Indonesia Stock Exchange, while the sample uses purposive judgment sampling with company criteria listed on the Indonesia Stock Exchange, its shares are actively traded, and data is available on the Indonesia Stock Exchange and inflation data, interest rates, and rupiah exchange rates from Bank Indonesia period 2009-2018. Analysis and discussion are carried out using quantitative statistical methods with multiple regression analysis, t test, F test, and the coefficient of determination tested with the classic assumption test. The results of the discussion are known to be partially significant for the inflation variable of 0.55> 0.05 so that it is concluded that H0 is accepted and Ha is rejected, which means there is no significant influence of the inflation variable on stock returns, the results of the interest rate variable are obtained results of 0.012 <0, 05 so it can be concluded that there is a significant influence of the variable interest rates on stock returns. The exchange rate variable obtained results of 0369> 0.05 so it can be concluded that there is no significant effect of the rupiah exchange rate variable on stock returns. While simultaneously the results of the study showed that the variables of inflation, interest rates, and the rupiah exchange rate on stock returns obtained results of 0.044 <0.05 thus it can be concluded that simultaneously there is a significant influence of the variables of inflation, interest rates, and the rupiah exchange rate on stock returns. Keywords: Inflation, Interest Rates, Rupiah Exchange Rates, Stock Returns]]>
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