Analysis Jakarta Stock Exchange Composite on the Indonesian Stock Exchange
Abstract
This study aims to determine the analysis of the influence from Dow Jones Industrial Average (DJIA), Inflation, Exchange Rates, Interest Rates against Jakarta Stock Exchange Composite (JKSE) on the Indonesian Stock Exchange (BEI). This research is quantitative study using secondary data taken from website with population that is overall movement Jakarta Stock Exchange Composite (JKSE) and taken sample with using the time series data method scale monthly for 72 months from January 2018 – December 2023. The instrument in this study analyzed using multiple linear regression analysis. The results of the study show that Dow Jones Industrial Average (DJIA), Inflation, and Interest Rates have influence one way to Jakarta Stock Exchange Composite (JKSE). While the Exchange Rates has an opposite influence to Jakarta Stock Exchange Composite (JKSE). This means that if happen improvement DJIA, Inflation, and Interest Rates then will followed with increase in JKSE, meanwhile if happen increase in Exchange Rate, there will be a decrease in JKSE.
References
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17. Romadhon, I., & Yuniningsih, Y. (2022). Pengaruh Rasio Keuangan Terhadap Harga Saham dengan Profitabilitas Sebagai Variabel Moderasi Pada Perusahaan Tambang Batu Bara di Bursa Efek Indonesia. Jurnal Sosial Ekonomi Dan Humaniora, 8(2), 222–230. https://doi.org/10.29303/jseh.v8i2.65
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19. Sunariyah. (2011). Pengantar Pengetahuan Pasar Modal (Keenam). UPP STIM. YKPN: Yogyakarta.
20. Waryati, S. Y., & Solaiman, A. (2022). Pengaruh Lingkungan Makroekonomi Terhadap Indeks Harga Saham Gabungan di Bursa Efek Indonesia. Coopetition: Jurnal Ilmiah Manajemen, 13(2), 299–308. http://journal.ikopin.ac.id/index.php/coopetition/article/view/1417%0Ahttps://journal.ikopin.ac.id/index.php/coopetition/article/download/1417/1684
21. Wulan, R., Nurpadilah, N., & Pebrian, R. (2023). PENGARUH INFLASI, HARGA MINYAK DUNIA, DAN SUKU BUNGA (BI RATE) TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) (DATA PER BULAN PERIODE 2011-2020) Risnawati. Jurnal Pijar Studi Manajemen Dan Bisnis, 1(2), 130–143.
22. Yuniningsih, Y.-, Hasna, N. A., Wajdi, B. N., & Widodo, S. (2018). Financial Performance Measurement Of With Signaling Theory Review On Automotive Companies Listed In Indonesia Stock Exchange. IJEBD (International Journal Of Entrepreneurship And Business Development), 1(2), 167–177. https://doi.org/10.29138/ijebd.v1i2.558
23. Yuniningsih, Y., Pertiwi, T. K., & Purwanto, E. (2019). Fundamental factor of financial management in determining company values. Management Science Letters, 9(2), 205–216. https://doi.org/10.5267/j.msl.2018.12.002
24. Yuniningsih, Y., Pratama, A., Widodo, S., & Utami Ady, S. (2019). Investigation of the Lq _45 Stock Price Index Based on Influential Macroeconomic Factors in the Period 2013 – 2018. SEIKO : Journal of Management & Business, 3(1), 159. https://doi.org/10.37531/sejaman.v3i1.525
25. Yuniningsih, Y., & Santoso, B. (2020). Does Family Environment Moderate The Effect of Financial Literacy, Attitudes and Motivation on Investment Interest. Atestasi : Jurnal Ilmiah Akuntansi, 3(2), 126–132. https://doi.org/10.57178/atestasi.v3i2.261Yuniningsih, Y., & Taufiq, M. (2019). Investor Behavior in Determining Investment on Real Asset. Mix: Jurnal Ilmiah Manajemen, 9(2), 327. https://doi.org/10.22441/mix.2019.v9i2.006
26. Yuniningsih, Y., Taufiq, M., Wuryani, E., & Hidayat, R. (2019). Two stage least square method for prediction financial investment and dividend. Journal of Physics: Conference Series, 1175(1). https://doi.org/10.1088/1742-6596/1175/1/012212
27. Yuniningsih, Y., Widodo, S., & Wajdi, B. N. (2017). An analysis of Decision Making in the Stock Investment. Economic: Jurnal Ekonomi Dan Hukum Islam, 8(2).
28. Yunita Anggreani, W., & Yuniningsih, Y. (2023). The Impacts Of Macroeconomics On The Price Of Stocks With Profitability As A Mediating Variable (A Study Of The Investment Properties And Estate Sector On The Indonesia Stock Exchange From 2020 To 2022). International Journal of Management Studies and Social Science Research, 05(04), 15–24. https://doi.org/10.56293/ijmsssr.2022.4658
2. Andriyani, E. L., & Setyawati, E. (2023). Analysis of the Effect of Inflation, Exchange Rates, BI Rate and World Oil Prices on Jakarta Composite Index on the Idx. Proceeding Medan International Conference Economics and Business, 1(January), 1875–1881. www.investing.com
3. Bakhtiar, M. R., & Purwani, T. (2021). Dampak Indeks Nikkei 225, Indeks Dow Jones, Suku Bunga FED, dan Inflasi Terhadap IHSG. Indicators : Journal of Economic and Business, 3(1), 457–466. https://doi.org/10.47729/indicators.v3i1.88
4. Surat Edaran Bank Indonesia Nomor 6/23/DPNP erihal Sistem Penilaian Tingkat Kesehatan Bank, 1(2004). https://www.bi.go.id/id/archive/arsipperaturan/Documents/0151b17420f84d118de8fdf0c0642730se623dpnp.pdf
5. Fitri, K. (2022). Pengaruh Inflasi, Nilai Tukar (Kurs) dan Suku Bunga Terhadap IHSG di Bursa Efek Indonesia Periode 2016-2020. Ecountbis (Economics, Accounting and Business Journal), 2(1), 223–232. http://eprints.mercubuana-yogya.ac.id/7938/%0Ahttp://eprints.mercubuana-yogya.ac.id/7938/6/BAB V.pdf
6. Harsono, A. R. (2018). Pengaruh Inflasi, Suku Bunga dan Nilai Tukar Terhadap Indeks Harga Saham Gabungan. Kinerja, 6(01), 180–193. https://doi.org/10.34005/kinerja.v6i01.3580
7. Hidayati, L., & Suwaidi, R. A. (2022). Earning per share sebagai variabel intervening antara rasio keuangan terhadap harga saham pada perusahaan property dan real estate. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 5(1), 74–85. https://doi.org/10.32670/fairvalue.v5i1.1914
8. Hilma Wardatunisa. (2023). PENGARUH INFLASI, NILAI TUKAR (USD/IDR), TINGKAT SUKU BUNGA, JUMLAH UANG BEREDAR DAN INDEKS DOW JONES TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) DI BURSA EFEK INDONESIA (BEI) PADA PERIODE 2018 – 2022. April.
9. Ibrahim, R. F., & Fatwara, M. D. (2023). Analisis Pengaruh BI Rate, Inflasi, Dan Indeks Dow Jones Terhadap Indeks Harga Saham Gabungan. Jurnal Akuntansi, Keuangan, Pajak Dan Informasi (JAKPI), 3(1), 82–96.
10. Istinganah, A., & Hartiyah, S. (2021). Pengaruh Inflasi, Suku Bunga, Nilai Tukar Rupiah, Domestik Bruto dan Jumlah Uang Beredar Terhadap Indeks Harga Saham Gabungan ( IHSG ) Di Bursa Efek Indonesia ( BEI ) Periode 2010 sampai 2019. Journal of Economic, Business and Engineering (JEBE).
11. Melyani, I., & Esra, M. A. (2021). Pengaruh Inflasi, Suku Bunga, Dan Nilai Tukar Terhadap Indeks Harga Saham Gabungan Periode 2016 – 2018. Jurnal Ilmiah Manajemen Dan Bisnis, 6(1), 50–59. https://doi.org/10.38043/jimb.v6i1.3060
12. Nabiilah, I. A., Hartono, U., & Haryono, N. A. (2024). Analisis Kointegrasi Indeks Saham Filipina Psei, Indeks Saham Malaysia Klci, Indeks Saham As Djia Dan Variabel Makroekonomi Dengan Ihsg. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 8(1), 528–557. https://doi.org/10.31955/mea.v8i1.3740
13. Noviyanto. (2021). Pengaruh Nilai Tukar (USD/IDR), Harga Minyak Dunia, Harga Emas Dunia, dan Dow Jones Industrial Avarage (DJIA) Terhadap Indeks Harga Saham Gabungan (IHSG) yang Terdaftar di Bursa Efek Indonesia (BEI) Periode Maret 2020 - Februari 2021.
14. Pangastuti, A. F. (2021). Pengaruh Suku Bunga Acuan, Inflasi, dan Kurs Terhadap Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia (BEI) Tahun 2018-2020. 14.
15. Paryudi, P. (2021). Pengaruh Nilai Tukar, Suku Bunga dan Inflasi terhadap Indeks Harga Saham Gabungan. Jurnal Ilmiah Manajemen Kesatuan, 9(2), 11–20. https://doi.org/10.37641/jimkes.v9i2.448
16. Pertiwi, T. K., Yuniningsih, Y., & Anwar, M. (2019). The biased factors of investor’s behavior in stock exchange trading. Management Science Letters, 9(6), 835–842. https://doi.org/10.5267/j.msl.2019.3.005
17. Romadhon, I., & Yuniningsih, Y. (2022). Pengaruh Rasio Keuangan Terhadap Harga Saham dengan Profitabilitas Sebagai Variabel Moderasi Pada Perusahaan Tambang Batu Bara di Bursa Efek Indonesia. Jurnal Sosial Ekonomi Dan Humaniora, 8(2), 222–230. https://doi.org/10.29303/jseh.v8i2.65
18. Sugiyanto, E., & Sarialam, M. (2022). Pengaruh Variabel Makro Ekonomi, Indeks Dow Jones Industrial Average (DJIA), Kospi dan Harga Minyak Dunia Terhadap Indeks Harga Saham Gabungan (IHSG) Di Bursa Efek Indonesia Tahun 2016-2020. The 5 Th Business and Economics Conference in Utilization of Modern Technology, 1007–1022. https://journal.unimma.ac.id
19. Sunariyah. (2011). Pengantar Pengetahuan Pasar Modal (Keenam). UPP STIM. YKPN: Yogyakarta.
20. Waryati, S. Y., & Solaiman, A. (2022). Pengaruh Lingkungan Makroekonomi Terhadap Indeks Harga Saham Gabungan di Bursa Efek Indonesia. Coopetition: Jurnal Ilmiah Manajemen, 13(2), 299–308. http://journal.ikopin.ac.id/index.php/coopetition/article/view/1417%0Ahttps://journal.ikopin.ac.id/index.php/coopetition/article/download/1417/1684
21. Wulan, R., Nurpadilah, N., & Pebrian, R. (2023). PENGARUH INFLASI, HARGA MINYAK DUNIA, DAN SUKU BUNGA (BI RATE) TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) (DATA PER BULAN PERIODE 2011-2020) Risnawati. Jurnal Pijar Studi Manajemen Dan Bisnis, 1(2), 130–143.
22. Yuniningsih, Y.-, Hasna, N. A., Wajdi, B. N., & Widodo, S. (2018). Financial Performance Measurement Of With Signaling Theory Review On Automotive Companies Listed In Indonesia Stock Exchange. IJEBD (International Journal Of Entrepreneurship And Business Development), 1(2), 167–177. https://doi.org/10.29138/ijebd.v1i2.558
23. Yuniningsih, Y., Pertiwi, T. K., & Purwanto, E. (2019). Fundamental factor of financial management in determining company values. Management Science Letters, 9(2), 205–216. https://doi.org/10.5267/j.msl.2018.12.002
24. Yuniningsih, Y., Pratama, A., Widodo, S., & Utami Ady, S. (2019). Investigation of the Lq _45 Stock Price Index Based on Influential Macroeconomic Factors in the Period 2013 – 2018. SEIKO : Journal of Management & Business, 3(1), 159. https://doi.org/10.37531/sejaman.v3i1.525
25. Yuniningsih, Y., & Santoso, B. (2020). Does Family Environment Moderate The Effect of Financial Literacy, Attitudes and Motivation on Investment Interest. Atestasi : Jurnal Ilmiah Akuntansi, 3(2), 126–132. https://doi.org/10.57178/atestasi.v3i2.261Yuniningsih, Y., & Taufiq, M. (2019). Investor Behavior in Determining Investment on Real Asset. Mix: Jurnal Ilmiah Manajemen, 9(2), 327. https://doi.org/10.22441/mix.2019.v9i2.006
26. Yuniningsih, Y., Taufiq, M., Wuryani, E., & Hidayat, R. (2019). Two stage least square method for prediction financial investment and dividend. Journal of Physics: Conference Series, 1175(1). https://doi.org/10.1088/1742-6596/1175/1/012212
27. Yuniningsih, Y., Widodo, S., & Wajdi, B. N. (2017). An analysis of Decision Making in the Stock Investment. Economic: Jurnal Ekonomi Dan Hukum Islam, 8(2).
28. Yunita Anggreani, W., & Yuniningsih, Y. (2023). The Impacts Of Macroeconomics On The Price Of Stocks With Profitability As A Mediating Variable (A Study Of The Investment Properties And Estate Sector On The Indonesia Stock Exchange From 2020 To 2022). International Journal of Management Studies and Social Science Research, 05(04), 15–24. https://doi.org/10.56293/ijmsssr.2022.4658
Authors
[1]
“Analysis Jakarta Stock Exchange Composite on the Indonesian Stock Exchange”, Soc. sci. humanities j., vol. 8, no. 08, pp. 4510–4519, Aug. 2024, doi: 10.18535/sshj.v8i08.1277.
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