Gross Domestic Product, BI Rate dan Sesitivitas Kurs Terhadap Return Saham Perusahaan Terindeks LQ45

  • Gede Aryawan Fakultas Ekonomi dan Bisnis Universitas Warmadewa
Keywords: gross domestic product, bi rate, exchange sensitivity, profit, firm size

Abstract

The research only focuses on non-fundamental factors or systematic factors that affect stock returns of LQ 45 companies listed on the Indonesia Stock Exchange from 2010 to 2020 or for 10 years. The data used to prove the hypothesis of this study were obtained through the osairis database. The analysis technique of this research is multiple linear regression. Based on hypothesis testing of 3 hypotheses, namely GDP, BI Rate and Exchange Sensitivity, only GDP has a positive effect on Stock Return. Another finding of this study is that 2 fundamental factors, namely profit margin and firm size, have no effect on stock returns. The limitations of the research that need to be followed up by subsequent research is to expand the research population at the ASEAN level with a longer year of observation. Subsequent research should explore the BI Rate and Exchange Rate in volatile conditions and consider other fundamental factors.

References

Alam, Z., & Rashid, K. (2014). Time Series Analysis of the Relationship between Macroeconomic Factors and the Stock Market Returns in Pakistan. Journal of Yaşar University, 9(36), 6261–6379. Retrieved from https://www.semanticscholar.org/paper/Time-Series-Analysis-of-the-Relationship-between-in-Alam-Rashid/169a926da32ed25a60109cec312cddfa11adba8b

Brigham, E. F., & Houston, J. F. (2011). Dasar-Dasar Manajemen Keuangan Edisi Sepuluh. Jakarta: Salemba Empat.

Fahmi, I. (2012). Pengantar Pasar Modal. Bandung: Alfabeta.

Haque, A. N., Stelios Grafakos, & Marijk, H. (2012). Participatory integrated assessment of flood protection measures for climate adaptation in Dhaka. Environment and Urbanization, 24(1), 197–213. Retrieved from https://doi.org/10.1177/0956247811433538

Julindra, K., & Susanto, L. (2016). Analisis Pengaruh Ukuran Perusahaan, Leverage, Profitabilitas, dan Umur Listing Terhadap Pengungkapan Modal Intelektual Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (BEI) Pada Tahun 2012-2014. Jurnal Ekonomi, 1(20), 103–119. Retrieved from https://www.semanticscholar.org/paper/ANALISIS-PENGARUH-UKURAN-PERUSAHAAN%2C-LEVERAGE%2C-DAN-Julindra-Susanto/d1f2e372bcfbe4e75741251a5541cdeb10f3ea18

Karami, G. R., & Talaeei, L. (2013). Predictability of Stock Returns Using Financial Ratios in The Companies Listed in Tehran Stock Exchange. International Research Journal of Applied and Basic Sciences, 5(3), 360–372. Retrieved from https://irjabs.com/files_site/paperlist/r_1447_130914162040.pdf

Singh, S., Kushwaha, B. P., Nag, S. K., Mishra, A. K., Bhattacharya, S., Gupta, P. K., & Singh, A. (2011). In vitro methane emission from Indian dry roughages in relation to chemical composition. Current Science, 101(1), 57–65. Retrieved from https://www.jstor.org/stable/24077863

Sukirno, S. (2011). Makro Ekonomi Teori Pengantar Edisi Ketiga. Jakarta: Rajawali Pers.

Sutrisno. (2015). Manajemen Keuangan Teori, Konsep dan Aplikasi. Yogyakarta: Ekonisia.

Tandelilin, E. (2010). Portofolio dan Investasi Teori dan Aplikasi Edisi Pertama. Yogyakarta: Kanisius.

Published
2022-04-19
Section
Articles
Abstract viewed = 52 times
PDF (Bahasa Indonesia) downloaded = 39 times