PENGARUH INFLASI, SUKU BUNGA DAN NILAI TUKAR TERHADAP HARGA SAHAM PADA PERUSAHAAN BURSA EFEK INDONESIA DI MASA PANDEMI COVID-19

Abstract

This research aimed to examine and analyze the effect of inflation, interest rate, and exchange rate on the stock price at the Indonesia Stock Exchange in the covid-19 pandemic. This research was quantitative. Furthermore, the sample collection technique used the purposive sampling technique to get a determined sample by the research variable. Moreover, the research population used companies listed on the LQ-45 index at Indonesia Stock Exchange with the research periods was quarterly in 1 year in 2020 until the next quarterly over three years in 2021. Moreover, based on the selection criteria, the research sample obtained 252 observations from 36 companies. Meanwhile, the research analysis technique used multiple linear regressions analysis techniques. The research result concluded that inflation and interest rate did not significantly affect the stock price. It showed that in the pandemic era, inflation had a tendency to be low, so that it did not affect the stock price and the interest rate increase did not significantly affect the stock price, therefore, the investors had a tendency to keep their stock investment. Meanwhile, the exchange rate had a significant effect on the stock price, it meant that the change of exchange rate affected the stock price of the company in The Indonesia Stock Exchange.