Publikasi

Detail Record

Kembali Ke sebelumnya

The Impact of the Rupiah Exchange Rate, Interest Rates, Inflation, Global Oil Prices, and the Dow Jones Index on the JCI

Pengarang : Lisma Hany, Sobrotul Imtikhanah, Tutut Dwi Andaya

Kata Kunci   :IHSG, rupiah exchange rate, interest rates, world oil price inflation, and Dow Jones Index

The IHSG is one of the important indicators for investors in making investment
decisions. By observing the IHSG, investors can gain a comprehensive overview of the condition
and trends of the stock market. By monitoring the IHSG, investors can analyze market
potential, risks, and apply appropriate mitigation strategies to prevent negative impacts on their
portfolios.
This study aims to identify and analyze, as well as obtain empirical evidence of the
influence of the rupiah exchange rate, interest rates, world oil price inflation, and the Dow
Jones Index on the IHSG both partially and simultaneously. The population of the study
consists of data on the rupiah exchange rate, interest rates, world oil price inflation, the Dow
Jones Index, and the IHSG from 2019 to 2022. The analytical tool used in this study is multiple
linear regression.
The results of the study show that the rupiah exchange rate has a negative effect on the
IHSG, while interest rates, world oil price inflation, and the Dow Jones Index have a positive
effect on the IHSG. Simultaneously, all variables influence the IHSG. The overall influence of
all variables on the IHSG is 91.7%.

Referensi

Ahmad, F. (2021). Analysis of the Impact of Macroeconomics, World
Commodities, and Global Indices on the Composite Stock Price
Index (IHSG) for the Period 2014-2019. Journal of Management Science,
9(1), 295. https://doi.org/10.26740/jim.v9n1.p295-310
Alvian, L. A., Azari, C., & Herman. (2019). The Effect of Inflation, Exchange
Rates, and Interest Rates on the Composite Stock Price Index (Study
on the Indonesia Stock Exchange Period 2015-2017). Journal of
Business Applications, 49(2), 147–156.
Andayani, T. D., Djauhar, D., & Akhirana, D. (2021). The Impact of Non-
Performing Loans and Third Party Funds on Financial Performance
with E-Payment as a Moderating Variable. Balance Sheet, 17(1), 76–88.
https://doi.org/10.48144/neraca.v17i1.595
Anggriana, R. S., & Paramita, R. S. (2020). Analysis of the Impact of BI Rate,
Exchange Rate, Inflation, Oil Prices, and Global Gold Prices on the
Composite Stock Price Index for the Period 2016-2019. Journal of
Management Science, 8(3), 1085.
https://doi.org/10.26740/jim.v8n3.p1085-1098
Beureukat, & Andriani, E. Y. (2021). The Impact of World Oil Prices, Dow Jones
Index, and Hang Seng Index on the Composite Stock Price Index for
2024 | ICALS: International Conference on Accounting, Law, and Sociology 2024
Universitas Nahdlatul Ulama Indonesia, Jakarta, 22nd August 2024
Judul……………….
doi : …………………….
the Period 2016-2020. Oikonomia: Journal of Management, 17(1), 1.
https://doi.org/10.47313/oikonomia.v17i1.1129
Chandrawinata, V., & Handoyo, S. E. (2022). The Effect of Interest Rates, Dow
Jones Index, and Hang Seng Index on the Movement of IHSG on the
IDX. Managerial and Entrepreneurial Journal, 4(3), 637–646.
https://doi.org/10.24912/jmk.v4i3.19701
Dewi, I. P. (2020). The Effect of Inflation, Exchange Rates, and World Oil Prices
on the Composite Stock Price Index on the Indonesia Stock
Exchange. Journal of Management Science, 17(1), 10–19.
Fadilla, A. S. (2021). The Impact of Inflation on Economic Growth in Indonesia.
Sharia Economics: Journal of Islamic Economic Thought and Development,
7(1). https://doi.org/10.35508/jom.v13i3.3311
Febriyanti, F. H., & Delfiani, S. (2023). The Effect of Inflation, Bank Indonesia
Interest Rates, and Rupiah Exchange Rate on the Composite Stock
Price Index (IHSG). Strategic Management and Business Simulation
Journal, 4(1), 41–51. https://doi.org/10.25077/mssb.4.1.41-51.2023
Hanoeboen, B. R. (2017). Analysis of the Impact of World Oil Prices, Rupiah
Exchange Rate, Inflation, and SBI Interest Rates on the Composite
Stock Price Index (IHSG). Economica: Economic Journal, XI(1), 1–6.
Herlianto, D., & Hafizh, L. (2020). The Effect of Dow Jones Index, Nikkei 225,
Shanghai Stock Exchange, and Straits Times Index Singapore on the
Composite Stock Price Index (IHSG) on the Indonesia Stock
Exchange (IDX). INOBIS: Journal of Business Innovation and
Management Indonesia, 3(2), 211–229.
https://doi.org/10.31842/jurnalinobis.v3i2.133
KSEI. (2023). Indonesian Capital Market Statistics.
https://www.ksei.co.id/files/Statistik_Publik_-
_Februari_2023_v3.pdf
Liantanu, A., Yanti, L. D., & Oktari, Y. (2023). The Impact of Interest Rates,
Exchange Rates (Kurs) Rupiah, Inflation, and Gross Domestic
Product Growth on the Composite Stock Price Index (IHSG) on the
Indonesia Stock Exchange for the Period 2014-2021. ECo-Buss, 5(41),
1081–1094.
Midesia, S. (2022). The Effect of Dow Jones Industrial Average and Hang Seng
Index on the Composite Stock Price Index in 2021. Journal of Economic
Accounting Research (JENSI), 6(2), 129–135.
https://doi.org/10.33059/jensi.v6i2.6740
Paryudi, Wiyono, G., & Rinofah, R. (2021). The Impact of Exchange Rates,
Interest Rates, and Inflation on the Composite Stock Price Index.
Scientific Journal of Unity Management, 9(2), 11–20.
https://doi.org/10.37641/jimkes.v9i2.448
Simorangkir, & Suseno. (2014). Exchange Rate Policy System. Jakarta: Bank
Indonesia.
2024 | ICALS: International Conference on Accounting, Law, and Sociology 2024
Universitas Nahdlatul Ulama Indonesia, Jakarta, 22nd August 2024
Judul……………….
doi : …………………….
Sri Rahayu, P. S. P., & Diatmika, I. P. G. (2023). The Impact of Inflation, World
Oil Prices, and Dow Jones Industrial Average on the Composite
Stock Price Index on the Indonesia Stock Exchange (Period January
2019-August 2022). JIMAT (Journal of Accounting Students), 14(04),
1104–1120. https://doi.org/10.23887/jimat.v14i04.61121
Sugiyono. (2019). Quantitative, Qualitative, and R&D Research Methods.
Bandung: Alphabeta.
Sutandi, Wibowo, S., Sutisna, N., Fung, T. S., & Januardi, L. (2020). The Impact
of Inflation, Rupiah Exchange Rate, and Interest Rates on the
Composite Stock Price Index (IHSG) on the Indonesia Stock
Exchange (IDX) for the Period 2014-2018. AKUNTOTEKNOLOGI:
JOURNAL OF ACCOUNTING AND TECHNOLOGY, 2, 13.
https://jurnal.buddhidharma.ac.id/index.php/akunto/article/view
/891/482
Tubastuvi, N., Fitriati, A., Tristiandini, D., & Imtikhanah, S. (2020). Corporate
Social Responsibility Disclosure of Indonesian Islamic Banks.
https://doi.org/10.4108/eai.5-8-2020.2301214
Utama, I. W. A. B., & Artini, L. G. S. (2015). The Effect of Global Stock Indices on
the Composite Stock Price Index of the Indonesia Stock Exchange.
Journal of Management, Business Strategy, and Entrepreneurship, 9(1),
65–73.
Wismantara, S. Y., & Darmayanti, N. P. A. (2017). The Effect of Exchange Rates,
Interest Rates, and Inflation on the Composite Stock Price Index on
the Indonesia Stock Exchange. E-Journal of Management Unud, 6(8),
4391–4421.
Yulianti, E., & Komara, E. F. (2020). Testing the Weak Form of Market Efficiency
During Bullish and Bearish Periods on the Indonesia Stock Exchange.
163–173.