PENGARUH EKONOMI MAKRO DAN HARGA EMAS TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) TAHUN 2014-2019

Abstract

This research aimed to analyze and examine the effect of inflation, interest rates, USD exchange rates, and gold prices on the Composite Stock Price Index which were listed on the Indonesian Stock Exchange. While, the research is quantitative. Moreover, the data were secondary . Based on the index which reflects all company stock prices on the Indonesian Stock Exchange and occurs in the transition of which under the leadership of president Ir. Joko Widodo, the population was Composite Stock Price Index on the Indonesia Stock Exchange in 2014-2019 or for 72 months. More over, the data sampling technique used saturated sampling. In line with, the Composite Stock Price Index which were listed on Indonesia Stock Exchange in 2014-2019 or for 72 months that used time series data as sample. The research result concluded inflation had negative and significant effect on Composite Stock Price Index. Likewise, interest rate had negative and significant effect on Composite Stock Price Index. On the other hand, USD exchange rate had negative and insignificant effect on Composite Stock Price Index. In contrast, Gold Price had positive and significant effect on Composite Stock Price Index. In brief, inflation, interest rate, and gold price simultaneously had significant effect on Composite Stock Price Index
Keywords: inflation, interest rate, usd exchange rates, gold price