Analysis of Macroeconomic Factors that Influence the Movement of the Composite Stock Price Index (IHSG) on the Indonesian Stock Exchange for the Period 2013 – 2023

Uli Septepana (Prima Indonesia University)
Perdana Lomo Obrien (Prima Indonesia University)
Aris Febrianta Surbakti (Prima Indonesia University)
Fuji Astuty (Prima Indonesia University)
Wenny Anggeresia Ginting (Manado State polytechnics)

International Journal of Economics, Business and Innovation Research
Vol. 3 No. 04 (2024): July, International Journal of Economics, Business and Innovation Research (IJ

This research aims to analyze external macroeconomic factors that influence the IHSG in 2013 - 2023. Independent variables include inflation, interest rates, world oil prices, and the rupiah exchange rate against the US dollar. the dependent variable is the Composite Stock Price Index (IHSG) for 2013 - 2023. The sample consists of 132 observations. The analysis method uses multiple linear regression analysis, analysis and decision making using Eviews 12 software. The test results show that inflation has a positive and insignificant effect on the IHSG, the exchange rate has a negative and significant effect on the IHSG, world oil prices have a negative and insignificant effect on the IHSG, and interest rates. Interest has a significant positive influence on the IHSG.