PENGARUH KINERJA KEUANGAN DAN VARIABEL MAKRO EKONOMI TERHADAP HARGA SAHAM DI JAKARTA ISLAMIC INDEX PERIODE 2013-2017

Abstract

This research aimed to examine the effect of financial performance and economy macro on Shares Price Index. While, the financial performance was measured by Return on Asset and Net Profit Margin besides the economy macro was measured Inflation and Interest Rate. The research was quantitative. Moreover, the data collection technique used purposive sampling, in which the collection was based on criteria given. In line with, there were 15 sample of companies (from 75 observations) which were listed on Jakarta Islamic Index 2013-2017. In addition, the data analysis technique used multiple linear regression with SPSS version 22. The research result concluded Return on Asset and Inflation had positive effect on Shares Price Index. It meant, the higher Return on Asset and Inflation, the higher the Shares Price Index. On the other hand, the Interest Rate had negative effect on the Shares Price Index. In other words, the higher the Interest Rate, the lower the Shares Price Index. Moreover, Net Profit Margin did not affect on the Shares Price Index.
Keywords: Financial Performance, Macro Economy, Shares Price Index