I Gusti Ayu Purnama_Abstract_1722013

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

Email: ayupurnama07@yahoo.com

Abstract

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.

(Full Text. pdf)

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Ichsan_Abstract_1722013

DAMPAK BI RATE, TINGKAT SUKU BUNGA, NILAI TUKAR, DAN INFLASI TERHADAP NILAI OBLIGASI PEMERINTAH

Ichsan
Ghazali Syamni
Nurlela

Jurusan Manajeman Fakultas Ekonomi Universitas Malikussaleh
Kampus Bukit Indah, Jl.Sumatera No.1-2 Blang Pulo, Lhokseumawe, Aceh, 23111.

A.Rahman

Bank Tabungan Negara (Persero) Banda Aceh
Jl. Teuku Umar No.163-169, Banda Aceh, 23243.

Korespondensi dengan Penulis:
Ichsan: Telp: +62 645 40210; Fax:+62 645 40211
E-mail: ichsan28@yahoo.com

 Abstract

The purpose of this study was to examine the influence of BI rate, SBI interest rate, inflation and the exchange rate to value of government bonds in Indonesia Stock Exchange. Data used in this study were secondary data in BI rate, SBI interest rates, inflation and the exchange rate period January 2007 to October 2012. The methods of data analysis were multiple regression models and they were analyzed using IBM SPSS software version 20. The results showed that partially only the exchange rate that did not significantly influence the value of government bonds. This finding could be explained that the exchange rate had no effect related to central bank intervention (Bank Indonesia) to move the exchange rate at the time of depreciation or appreciation.

Key words: BI rate, bonds, exchange rate, inflation, SBI interest rates

(Full Text.pdf)