ANALISIS PENGARUH VARIABEL MAKRO EKONOMI TERHADAP INDEKS HARGA SAHAM SEKTORAL PADA BURSA EFEK INDONESIA
| Main Authors: | , Andry Ilham, , Prof. Dr. Zaki Baridwan, M.Sc. |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2014
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/133452/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=74121 |
Daftar Isi:
- In the literature, there are many empirical studies to disclose the relationship between macroeconomic variables and stock prices. However, the direction of causality still remains unresolved in both theory and empirics. This study aims to evaluate the impact of macroeconomic variables, i.e. gross domestic product, interest rates, inflation factors and currency exchange rates to stock prices at Indonesia Stock Exchange, and to measure the impact of these factors on sectoral indices (agriculture, mining, basic industry, miscellaneous industry, consumer goods industry, property and real estate, infrastructure, finance and trade and service) during the period of 2008 to 2012. The method used in this study is multiple regression analysis. Data has been collected from the monthly statistics of The Indonesia Stock Exchange (IDX), The Central Agency of Statistics (BPS) and Bank of Indonesia. The result shows that the economic macro variables have significant impact to stock prices index of agriculture, basic industry, property and real estate, infrastructure and trade and service. On the other side, not significant impact to stock prices index of mining, miscellaneous industry, consumer goods industry, and finance if tested simultaneously. If it tested partially, the economic macro variables haven�t significant impact on the index for each sector.