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Jurnal Ekonomi, Bisnis dan Pendidikan (JEBP)
Published by Universitas Negeri Malang
ISSN : -     EISSN : 27981193     DOI : https://doi.org/10.17977/um066
Core Subject : Economy, Education,
Economics, Econometrics & Finance Education Other
Jurnal Ekonomi Bisnis dan Pendidikan (JEBP) is a scientific journal in the business, economy, and education fields. This journal focuses on theoretical and empirical studies in the field of economy, business, and education. It welcomes research in the areas of economic development, economic behavior, digital economy, economy education, economy system, finance and banking, small and medium enterprises, financial management, development of a company, finance of a company, business and economic learning, learning instruments, learning achievement, teaching and learning strategies, learning assessment, as well as learning media.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
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Search results for , issue "Vol. 4 No. 9 (2024)" : 5 Documents clear
PENGARUH TINGKAT INFLASI TERHADAP VOLATILITAS HARGA SAHAM BUKA: STUDI DATA PADA TAHUN 2022-2024 Brylian Siswa Mahendra Data
Jurnal Ekonomi, Bisnis dan Pendidikan Vol. 4 No. 9 (2024)
Publisher : Universitas Negeri Malang

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Abstract

Pasar modal berperan penting dalam mendukung perekonomian suatunegara, termasuk melalui indeks saham seperti LQ45 di Indonesia. Penelitianini berfokus pada pengaruh inflasi terhadap volatilitas harga saham padaperusahaan Bukalapak (BUKA), salah satu emiten dalam indeks LQ45. Inflasidiartikan sebagai kenaikan harga barang secara umum dan berkelanjutan,yang berpotensi memengaruhi volatilitas harga saham. Volatilitasmencerminkan risiko yang dihadapi investor akibat fluktuasi harga saham.Penelitian ini menggunakan metode deskriptif kuantitatif dengan uji normalitasdan uji korelasi Spearman. Penelitian ini memperoleh hasil variabel standardeviasi harga saham dan standar deviasi inflasi tidak memiliki hubungan yangsignifikan. Nilai korelasi yang diperoleh bernilai positif sebesar 0,0781 atausebesar 0,78% maka bisa diartikan bahwa arah hubungan kedua variabelsearah tetapi tergolong sangat lemah. Dalam artian lain apabila hasildari Spearman’s rho bernilai positif, maka volatilitas harga saham mengikutinilai inflasi yang berlangsung pada periode tersebut. The capital market plays a crucial role in supporting a country's economy,including through stock indices like LQ45 in Indonesia. This study focuses onexamining the impact of inflation on stock price volatility, specifically forBukalapak (BUKA), one of the companies listed in the LQ45 index. Inflationrefers to a general and sustained increase in the price of goods, which caninfluence stock price volatility. Volatility represents the risk faced by investorsdue to fluctuations in stock prices. The study employs a quantitativedescriptive method with normality test and Spearman’s correlation test. Thefindings aim to reveal the relationship between inflation and stock pricevolatility, as well as its implications for investors. The results are the standardvariable deviation of stock prices and the standard deviation of inflation did nothave a significant correlation. The correlation value obtained has a positivevalue of 0.0781 or 0.78%, so it can be interpreted that the direction of thecorrelations between the two variables is in the same direction but is classifiedas very weak. In another, if the result of Spearman's rho is positive, then thevolatility of the stock price follows the inflation value that takes place in thatperiod.
MENELUSURI JEJAK INFLASI DENGAN VOLATILITAS SAHAM ASII PERIODE 2004-2023: STRATEGI INVESTASI CERDAS DI PT ASTRA INTERNATIONAL TBK Choirus Saadah; Imam Mukhlis; Agung Nugroho
Jurnal Ekonomi, Bisnis dan Pendidikan Vol. 4 No. 9 (2024)
Publisher : Universitas Negeri Malang

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Abstract

Penelitian ini bertujuan untuk mengetahui hubungan antara inflasi danvolatilitas harga saham PT Astra International Tbk (ASII) dari tahun 2004 hingga 2023, serta konsekuensi dari hubungan tersebutterhadap strategi investasi. Penelitian ini menggunakan teknik deskriptifkuantitatif dengan data sekunder dan untuk menguji hubungan antara duavariabel digunakan uji Spearman dan uji Kausalitas Granger. Hasil ujiSpearman menunjukkan tidak ada hubungan yang signifikan antara inflasi danvolatilitas saham ASII dengan nilai probabilitas p=0.8406 (>0.05). Lebih lanjut,dengan nilai probabilitas masing-masing sebesar p=0,619 dan p=0,773, ujiKausalitas Granger juga menunjukkan tidak adanya hubungan kausalitasantara kedua variabel tersebut di kedua arah. Hasil ini mengisyaratkan bahwainvestor sebaiknya tidak terlalu berfokus pada pergerakan inflasi ketikamenganalisis kinerja saham ASII. Faktor lain yang lebih relevan dan terfokus,seperti kinerja inti perusahaan, kinerja industri otomotif, dan kondisi pasarsecara umum, harus lebih dipertimbangkan. Analisis ini menunjukkanpentingnya diversifikasi perusahaan ASII dalam mengurangi dampak inflasi,meskipun tidak ada korelasi langsung antara inflasi dan volatilitas saham.Hasil penelitian ini dapat membantu investor untuk mempertimbangkanaspek-aspek spesifik perusahaan dalam merencanakan strategi investasimereka. This study aims to determine the relationship between inflation and stock pricevolatility of PT Astra International Tbk (ASII) from 2004 to 2023, as well as theconsequences of the relationship on investment strategy. This research usesquantitative descriptive techniques with secondary data and to test therelationship between the two variables the Spearman test and GrangerCausality test are used. The Spearman test results show there is no significantrelationship between inflation and ASII stock volatility with a probability valueof p=0.8406 (>0.05). Furthermore, with probability values of p=0.619 andp=0.773 respectively, the Granger Causality test also shows no causalityrelationship between the two variables in both directions. This result suggeststhat investors should not focus too much on inflation movements whenanalyzing ASII stock performance. Other more relevant and focused factors,such as the company's core performance, automotive industry performance,and general market conditions, should be considered more. This analysisshows the importance of ASII's corporate diversification in mitigating theimpact of inflation, although there is no direct correlation between inflation andstock volatility. The results of this study may help investors to considercompany-specific aspects in planning their investment strategy.
ANALISIS PENGARUH DAN KORELASI VOLATILITAS TINGKAT INFLASI TERHADAP HARGA SAHAM PADA SEKTOR PERTAMBANGAN: STUDI KASUS PADA SAHAM LQ 45 (ANTM) Della Rizki Paramyta
Jurnal Ekonomi, Bisnis dan Pendidikan Vol. 4 No. 9 (2024)
Publisher : Universitas Negeri Malang

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Abstract

Artikel ini bertujuan untuk menganalisis tingkat inflasi Indonesia terhadapvolatilitas harga saham PT. Aneka Tambang, TBK pada periode November 2019hingga Oktober 2024 serta mengetahui korelasi antara kedua variabel. Artikelini menggunakan metode penelitian kuantitatif dengan pendekatan deskriptifdengan data sekunder harga saham ANTM dan tingkat inflasi yang diperolehmelalui sumber yang kredibel dan diolah menggunakan metode standardeviasi dengan bantuan software Microsoft Excel dan uji korelasi Spearmandengan bantuan software Stata 17. Hasil penelitian menunjukkan bahwavolatilitas harga saham ANTM tidak memiliki hubungan signifikan dengantingkat inflasi. Harga saham ANTM lebih dipengaruhi oleh fluktuasi hargakomoditas global, seperti nikel dan emas, dibandingkan dengan kondisi inflasidomestik. Selain itu, volatilitas inflasi yang rendah mengindikasikan stabilitasmakroekonomi Indonesia selama periode penelitian. Penelitian inimemberikan rekomendasi bagi investor untuk lebih berfokus pada analisispasar komoditas global dalam membuat keputusan investasi, sertamenyarankan diversifikasi portofolio untuk mengurangi risiko investasi. Bagiperusahaan, mitigasi risiko volatilitas harga komoditas melalui kontrak jangkapanjang dan diversifikasi produk disarankan untuk menjaga kestabilanpendapatan. Dengan demikian, studi ini dapat memberikan kontribusiakademis dalam mengevaluasi dampak inflasi terhadap volatilitas sahamANTM secara spesifik. Selain itu, penelitian diharapkan mampu memberikanwawasan bagi para investor, manajer portofolio, dan pembuat kebijakanmengenai pengaruh inflasi terhadap sektor pertambangan. This article aims to analyze the impact of Indonesia's inflation rate on the stockprice volatility of PT Aneka Tambang, Tbk during the period from November2019 to October 2024, as well as to examine the correlation between the twovariables. The article employs a quantitative research method with adescriptive approach, utilizing secondary data on ANTM stock prices andinflation rates obtained from credible sources. The data were processed usingthe standard deviation method with Microsoft Excel and the Spearmancorrelation test with Stata 17. The results of the study indicate that ANTM stockprice volatility does not have a significant relationship with inflation rates.ANTM stock prices are more influenced by fluctuations in global commodityprices, such as nickel and gold, rather than domestic inflation conditions.Additionally, low inflation volatility suggests macroeconomic stability inIndonesia during the study period. This study provides recommendations forinvestors to focus more on analyzing global commodity markets when makinginvestment decisions and suggests portfolio diversification to minimizeinvestment risks. For the company, mitigating the risks of commodity pricevolatility through long-term contracts and product diversification isrecommended to maintain stable revenues. Thus, this study can contribute academically by evaluating the impact of inflation on ANTM stock volatilityspecifically. Furthermore, the research is expected to provide insights forinvestors, portfolio managers, and policymakers regarding the impact ofinflation on the mining sector.
HUBUNGAN TINGKAT INFLASI DI INDONESIA TERHADAP VOLATILITAS SAHAM PT INDOSAT (TBK) Dian Fasikha
Jurnal Ekonomi, Bisnis dan Pendidikan Vol. 4 No. 9 (2024)
Publisher : Universitas Negeri Malang

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Abstract

Penelitian ini mengkaji hubungan tingkat inflasi di Indonesia terhadapvolatilitas saham PT Indosat. Volatilitas diukur melalui standar deviasi, denganmempertimbangkan kebijakan ekonomi sebagai faktor utama. Analisisprobabilitas korelasi menunjukkan hubungan negatif moderat antara inflasidan harga saham, mengindikasikan bahwa kenaikan inflasi cenderungmenurunkan kinerja saham. Temuan ini menunjukkan bahwa ketidakstabilanekonomi berkontribusi signifikan terhadap fluktuasi pasar. Hasil forecastvolatilitas menyoroti pentingnya kebijakan moneter dalam menekanketidakpastian pasar dan memberikan kepercayaan kepada investor.
TIRAI INFLASI; MEMBONGKAR MISTERI PERGERAKAN HARGA SAHAM HARUM ENERGY Ladya Aulia Paramitha
Jurnal Ekonomi, Bisnis dan Pendidikan Vol. 4 No. 9 (2024)
Publisher : Universitas Negeri Malang

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Abstract

Penelitian ini bertujuan untuk menganalisis hubungan antara volatilitas inflasidan volatilitas harga saham HARUM ENERGY (HRUM) selama periode 2019-2024. Menggunakan pendekatan kuantitatif dan metode analisis korelasiPearson, studi ini menyelidiki pengaruh inflasi terhadap pergerakan hargasaham. Data sekunder diperoleh dari harga saham bulanan HRUM dan tingkatinflasi dari Bank Indonesia. Uji normalitas Jarque-Bera menunjukkan databerdistribusi normal dengan nilai probabilitas 0.102267. Hasil uji korelasiPearson mengungkapkan koefisien korelasi 0.322939 dengan probabilitas0.0083, menandakan adanya hubungan positif namun lemah antara volatilitasinflasi dan volatilitas harga saham HRUM. Penelitian menyimpulkan bahwameskipun terdapat hubungan signifikan secara statistik, inflasi memilikipengaruh terbatas terhadap volatilitas harga saham HRUM, dan faktor lainseperti industri spesifik dan sentimen investor mungkin memainkan peranlebih dominan. This study aims to analyze the relationship between inflation volatility andHARUM ENERGY (HRUM) stock price volatility during the 2019-2024 period.Using a quantitative approach and Pearson correlation analysis method, thestudy investigates the impact of inflation on stock price movements.Secondary data was obtained from monthly HRUM stock prices and inflationrates from Bank Indonesia. The Jarque-Bera normality test showed normallydistributed data with a probability value of 0.102267. Pearson correlation testresults revealed a correlation coefficient of 0.322939 with a probability of0.0083, indicating a weak positive relationship between inflation volatility andHRUM stock price volatility. The research concludes that although there is astatistically significant relationship, inflation has a limited impact on HRUMstock price volatility, and other factors such as industry-specificcharacteristics and investor sentiment may play a more dominant role.

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