PENGARUH SUKU BUNGA, JUMLAH PERUSAHAAN DAN PERTUMBUHAN EKONOMI TERHADAP PENYALURAN KREDIT MODAL KERJA BAGI UMKM DI SUMATERA SELATAN
SEKOLAH TINGGI ILMU MANAJEMEN AMKOP PALEMBANG
Jalan Letnan Murod No. 55, Talang Ratu KM 5, Palembang 30127
To develop micro, small and middle bussiness (MSMB) depend on Working Capital Credit (WCC). WCC depends on interest rate, the amount of company and economic growth. This study aimed to analize the effect of interest rate, the amount of company and economic growth on Working Capital Credit of MSMB in South Sumatera. To process the data used instrument statistic program of Eviews 7.2 application that will give numeric output. This study used pooled data regression test with Ordinary Least Square (OLS) and using two estimation approaches: Fixed Effect model and Random Effect model. Besides, to examines the two models, it was used Hausman Test. The result showed that interest rate has positive influence to MSMB in villages/cities in South Sumatra Province with amount of interest rate 0.311346 and probability 0.0245 because the interest rate at that time was subsidized by government, so eventhough the interest rate was high people did not get trouble to borrow money in the bank. Economic growth has positive and significant influence to MSMB as amount 1.077473 because if economic growth increases so people income will increase, then the consume will increase and the output will increase too.
Keyword : interest rate, amount of firm, economic growth
19315463474_Tien Yustini (Full Text)
FAKTOR FUNDAMENTAL EKONOMI MAKRO TERHADAP
HARGA SAHAM LQ45
I Gusti Ayu Purnamawati
Desak Nyoman Sri Werastuti
Fakultas Ekonomi dan Bisnis Universitas Pendidikan Ganesha
Jl. Udayana (Kampus Tengah) Singaraja-Bali
Korespondensi dengan Penulis:
I Gusti Ayu Purnamawati: Telp. +62 362 23957
The capital market was an important element that provided benefits for the economic progress through investment development in a country. LQ45 index was the list of 45 excellent chosen stocks 45 which were the most liquid and most active in the sale of the shares on the Stock Exchange. This study aimed to determine the effect of macroeconomic fundamentals on LQ45 stock price. The population used in this study was LQ45 shares in Indonesia Stock Exchange in 2007-2012. The method used in this study was the Error Correction Model (ECM). The dependent variable in this study was the stock price of LQ45, while the independent variables were the rate of economic growth, inflation, the value of U.S. dollar against rupiah exchange rate, and SBI interest rate. The results showed that the rate of economic growth and a variable SBI interest rate had a negative effect in the short-term and long-term of LQ45 stock price. Inflation variable had a positive effect in the short-term and long-term of LQ45 stock price. While the exchange rate variable had a negative effect in the short-term and it had positive impact in long-term on the LQ45 stock price.
Key words: economic growth rate, exchange rate, inflation, macroeconomic fundamentals, SBI interest rate, stock price.
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