Pengaruh Indeks Saham Asing Dan Variabel Makroekonomi Terhadap Indeks Harga Saham LQ45

Abstract

Investment is one kind of country’s income. The capital market, including stocks, is a form of the convenience of modern investment. Investors, policy makers, capital market observers, and financial analysts need information in monitoring the movement of traded stock prices. Stock index is the main information in the stock market. One of the stock indexes which have potential and noticed by the people is the LQ45 stock price index. In this study, researchers tried to determine the effect of foreign stock index the Dow Jones Industrial Average (DJIA) and Straits Times Index (STI) and macroeconomic variables such as the USD/IDR exchange rate, interest rates (BI 7-days (Reverse ) Repo Rate), and inflation on the LQ45 stock price index. This study uses the Error Correction Model (ECM) method with 60 observational data from the research period January 2017 to December 2021. The results show that DJIA and STI have a positive and significant effect in the long and short term, the exchange rate has a negative and significant effect in the long and short term, interest rate has a negative and insignificant effect in the short term while in the long term it has a significant positive effect, while inflation has an insignificant negative effect in the long and short term on the LQ45 stock price index.

Peran Pertumbuhan Pasar Modal Syariah Dalam Peningkatan Perekonomian Indonesia

“…salah satu produk berbasis syariah yang mengalami perkembangan sangat pesat adalah produk pada pasar modal syariah. (Ani Yuliani, Norma Rosyidah, 2021) Pengaruh perekonomian yang cukup besar pada suatu negara salah satunya dipengaruhi oleh adanya pasar modal, hal ini disebabkan dari adanya investasi pada pasar modal. Pada zaman milenial ini investasi pada pasar modal mempunyai perkembangan yang cukup positif pada perekonomian suatu negara, hal ini ditunjang dengan adanya peningkatan yang cukup tinggi pada literasi tentang investasi di kalangan masyarakat Indonesia pada saat ini, investasi yang masyarakat di Indonesia cukup banyak minati pada saat ini yaitu pada sektor investasi syariah.…”

The US-China Trade War in Macroeconomic Studies of the Indonesian Sharia Stock Index

“…Empirical studies of the Interest Rate (BI Rate and FED Rate) on stock indices were carried out by Abbas et al (2022), Nur and Fatwa (2022), Angesti and Setyadharma (2022), Pratiwi et al (2022), Permada et al (2022), Ilyas (2022), Ani and Andrian (2022), Kasongwa and Minja (2022), Andani and Latief (2020), Ningsih and Muthmainnah (2019), and Mawarni and Widiasmara (2018), Miyanti and Wiagustini (2018), and Rahmawati and Baini (2019). Research on exchange rates on stock indices has been conducted by Balagobei and Bandara (2022), Winny and Yulfiswandi (2022), Nur and Fatwa (2022), Ilyas (2022), Pratiwi et al (2022), Adiningtyas (2018), Andani and Latief (2020), Ningsih and Muthmainnah (2019), and Sari and Purwohandoko (2019).…”