The Effect of the BI Rate, Inflation and Exchange Rates on Consumer Goods Stock Prices
Keywords:Stock prices, BI Rate, Inflation and Rupiah Exchange
In the midst of the current economic conditions, with an increase in Bank Indonesia's interest rates, consumer sector stocks became the main choice for investors, because they are defensive stocks. Investors tend to accumulate stocks in this sector, after the post-Covid economic recovery has occurred, the public has the potential to increase consumption, this is expected to have an impact on the condition of consumer goods stocks. The capital market has a very important role for all sectors, both private, government and society in general. Investors must pay attention to macroeconomic variables including Bank Indonesia interest rates, inflation and the Rupiah exchange rate. Under these conditions, research was conducted with the aim of analyzing, testing and concluding the influence of the BI Rate, Inflation, and the Rupiah exchange rate on consumer goods stock prices on the Indonesian Stock Exchange for the period 2018 – 2022. Using secondary data on companies listed on the Indonesia Stock Exchange, has complete financial reports, has stock price information from January 2018 to October 2022. Analysis data is processed using multiple linear regression and classical assumption tests with quantitative analysis techniques using SPSS 25. The results show simultaneously the influence of the BI Rate, Inflation, Rupiah exchange rate against consumer goods stock prices.
Antasari, Wandi Sanyota, and Masithah Akbar, Analysis of the Influence of Exchange Rate Fluctuations, Inflation and the BI Rate on Stock Prices in the Consumer Good Industry Go Public Sector, Journal of Management and Accounting, vol.20, no.2, pp.171- 184, 2019 http://journal.stiei-kayutangi-bjm.ac.id/index.php/jma /article/ view/459
Anggriana, Ringga Samsurufika and Paramita, R.A Sista, Analysis of the Influence of the BI Rate, Exchange Rate, Inflation, Oil Prices, World Gold Prices on the Composite Stock Price Index for the 2016-2019 Period, Journal of Management Science (JIM), vol.8, no.3, pp.1083-1098, 2020, DOI: https://doi.org/10.26740/jim.v11n1
Asih, Ni Wayan Sri and Masithah Akbar, Analysis of the Influence of Inflation, Interest Rates, Exchange Rates, and Gross Domestic Product (GDP) Growth on the Composite Stock Price Index (IHSG) Case Studies in Property Companies Listed on the Indonesian Stock Exchange, vol.17, no.1, pp.43-52, April 2016, http://journal.stiei-kayutangi-bjm.ac.id/index.php/jv112 /article/view/269, http://journal.stiei-kayutangi-bjm.ac.id/index.php/jv112/article/view /269/175
Boediono, Economic Growth Theory, BPFE Yogyakarta, 1985, http://kin.perpusnas.go.id /Display Data.aspx?pId=22702&pRegionCode=JIUNMAL&pClientId=111
Pratiwi, D. B., Damayanti, D., dan Harori, M. I. I. 2021. Pengaruh Inflasi, Bi Rate, dan Nilai Tukar Rupiah Terhadap Perubahan Indeks Harga Saham. Sektor Consumer Goods. Jurnal Perspektif Bisnis. Universitas Lampung. Lampung(ID). Vol 4 No 1 (2021): Jurnal Perspektif Bisnis , DOI: https://doi.org/10.23960/jpb.v4i1.47
Fahmi, Irham, Investment Management: Theory and Questions and Answers, Salemba Empat, 2012, http://laser.umm.ac.id/catalog-detail-copy/150002654/
Ghozali, I, Multivariate Analysis Application with IBM SPSS 19 Program, Diponegoro University Publishing Agency, 2011, http://kin.perpusnas.go.id/DisplayData.aspx?pId =114343&p RegionCode=UNTAR&pClientId=650
Hermawan, Tri Wisnu and Purwohandoko, Analysis of the Influence of Inflation, Rupiah Exchange Rate, BI Rate, Money Supply and the Shanghai Stock Exchange Index on the Sri Kehati Index on the Indonesia Stock Exchange Period 2014-2019, Journal of Management Science, vol.8, no.4 , pp.1338-1352, 2020, DOI:https://doi.org/10.26740 /jim.v8n4.p1338-1352
Husnan, Suad, Fundamentals of Portfolio Theory and Securities Analysis, YKPN Yogyakarta, 2003.
Nopirin, Monetary Economics, BPFE Yogyakarta, 1995, DOI: http://dx.doi.org/10.29040/jap.v23i2. 6632
Nangoi, Z.L, Mangantar M, and Loindong, S.S.R, Impact of the Rupiah Exchange Rate and Foreign Stock Price Index on the Indonesian Composite Stock Price Index, vol.10, no.1, pp.461-470, January 2022, DOI: http://dx.doi.org/10.29040/jap.v23i2.6632
Restiawan, Slamet Ardi, and Asytuti, Rinda. Evaluasi Faktor Ekonomi Makro Dalam Mempengaruhi Harga Saham. Jurnal Riset Akuntansi dan Keuangan 2.1 (2020): 21-28, DOI: https://doi.org/10.36407/akurasi.v2i1.155
Sumadi Suryabrata, Metodologi Penelitian, Rajawali Pers,Jakarta 2011, ISBN,979-421-104-4
Sudarsana, N. M, dan Candraningrat, I. R. 2014. Pengaruh Suku Bunga SBI, Nilai Tukar, Inflasi dan Indeks Dow Jones terhadap Indeks Harga Saham Gabungan di BEI. E-Jurnal Manajemen Universitas Udayana: 3291-3308, E-Jurnal Manajemen, [S.l.], v. 3, n. 11, nov. 2014. ISSN 2302-8912. https://ojs.unud.ac.id/index.php/manajemen/article/view/ 9474
Yuniarti D and Litriani E, Effect of Inflation and Rupiah Exchange Rate on Stock Prices in the Consumer Goods Industry Sector on the Indonesian Sharia Stock Index (ISSI) 2012-2016, I-Finance : A Research Journal on Islamic Finance, vol.3, no. 1, pp.31-52, October 2017, DOI: https://doi.org/10.19109/ifinance.v3i1.1478
How to Cite
Copyright (c) 2023 Adpebi International Journal of Multidisciplinary Sciences
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.