THE EFFECT OF INFLATION, INTEREST RATES AND EXCHANGE VALUE ON STOCK PRICES OF BANKING SECTOR COMPANIES ON THE INDONESIAN STOCK EXCHANGE
Main Article Content
Deri Zulfitrah
Iqlima Azhar
Mayang Murni
The research aims to determine: (1) The effect of inflation on share prices in banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. (2) The effect of interest rates on share prices in banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. (3) The influence of the exchange rate on share prices of banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. (4) The influence of inflation, interest rates and exchange rates on banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. Descriptive quantitative type, the sample for this research is banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. The sample selection used a purposive sampling method, totaling 45 companies. The data analysis technique uses multiple regression analysis. The results of the analysis can be concluded that (1) Inflation has no significant effect on the share prices of banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. (2) Interest rates have a significant influence on banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. (3) The exchange rate does not have a significant effect on the share prices of banking sector companies listed on the Indonesian Stock Exchange in 2020-2022. (4) Inflation, interest rates and exchange rates do not have a significant effect on share prices in banking sector companies listed on the Indonesian Stock Exchange in 2020-2022.
Adikerta, MA, & Abundanti, N. (2020). The Effect of Inflation, Return on Assets, and Debt TO Equity Ratio on Stock Prices. E-Journal of Management, 9(2), 986–987.
Afianty, Fatimah, & Selfy, M. (2021). The Effect of Inflation and Exchange Rates on Stock Price of Ciggarette Subsector on The Indonesia Stock Exchange. International Conference on Management, Business, and Technology, 12–15.
Dwi, C. (2022). Only Three Asian Exchanges Will Give Profits in 2022, RI is One of them! CNBC Indonesia. https://www.cnbcindonesia.com/market/20221230001202-17-401344/cuma-tiga-bursa-asia-yang-kasih-cuan-2022-ri-saya-lalu/1
Hartono, J. (2017). Portfolio Theory and Investment Analysis 11th Edition (11th). Yogyakarta: BPFE Yogyakarta.
Iradilah, S., & Tanjung, AA (2022). The Effect of Inflation and Interest Rates on Share Prices in Banking Companies Listed on the IDX. Economics, Finance, Investment and Sharia (EQUITY), 4(2), 420–428. https://doi.org/10.47065/ekuitas.v4i2.2363
Kewal, S.S. (2012). The Influence of Inflation, Interest Rates, Exchange Rates, and GDP Growth on the Composite Stock Price Index. Economia Journal, 8(i), 53–64. https://doi.org/http://dx.doi.org/10.21831/economia.v8i1.801
Kurniawan, A., & Yuniati, T. (2019). The Effect of Inflation, Interest Rates and Exchange Rates on Banking Company Share Prices. Journal of Management Science and Research, 8(1), 1–16.
Maronrong, R.M., & Nugrhoho, K. (2017). The Effect of Inflation, Interest Rates and Exchange Rates on Share Prices Case Study of Automotive Manufacturing Companies Listed on the Indonesian Stock Exchange 2012-2017. STEI Economics Journal, 26(02), 277–295. https://doi.org/10.36406/jemi.v26i02.38
Maryanne, DM Della. (2009). The Influence of the Rupiah Exchange Rate, SBI Interest Rate, Stock Trading Volume, Inflation, and Stock Beta on Stock Prices. Journal of Economics, Business & Entrepreneurship, 1–92.
Mayasari, V. (2019). The Influence of Inflation and SBI Rates on Share Prices in Food and Beverage Sub-Sector Manufacturing Companies that Go Public on the Indonesian Stock Exchange. Accounting And Management, 14(2), 31–49. https://doi.org/10.30630/jam.v14i2.24
Pure, Mayang. (2017). Analysis of Factors that Influence Share Prices in Manufacturing Companies Listed on the IDX 2010-2014. Islamic Investment Journal, 2(1), 2017, p21-32
Ni Made Ayu Dwijayanti. (2021). The Influence of Exchange Rates and Inflation on Banking Stock Prices During the COVID-19 Pandemic. Journal of Business & Entrepreneurship, 17(1), 2021. http://ojs.pnb.ac.id/index.php/JBK
Prastuti, D., & Setianingrum, PH (2018). The Effect of Foreign Exchange Rate, Inflation Rate and Market Return on Return of Bank Perseros' Stock. Indonesian Journal of Business, Accounting and Management, 1(1), 48–53. https://doi.org/10.36406/ijbam.v1i1.221
Putri, LP (2015). The Influence of Inflation and the Rupiah Exchange Rate against the US Dollar on the Performance of Property and Real Estate Company Shares in Indonesia. 1, 46–55.
Rachmawati, Y. (2018). The Effect of Inflation and Interest Rates on Share Prices in Banking Companies Listed on LQ45 of the Indonesian Stock Exchange. Journal of Accounting Media (Mediation), 1(1), 66–79. https://doi.org/10.31851/jmediasi.v1i1.2368
Rossy, T.N. (2018). The Influence of the Rupiah Exchange Rate and Inflation Rate on Share Prices in the Banking Sub-sector on the Indonesia Stock Exchange (BEI). Jom Fisip, 5(1), 1–15.
Tandelilin, E. (2017). Portfolio management & investment capital markets. Yogyakarta: PT Kanisius.
Vikaliana, R. (2017). Effect of Inflation, Interest Rate / Bi Rate, and Rupiah Exchange Rate on Indonesian Composite Index (Idx) At Indonesian Stock Exchange (Ise). The Management Journal of Binaniaga, 2(01), 41. https://doi.org/10.33062/mjb.v2i01.54
Wastam Wahyu Hidayat. (2019). Basic Concepts of Investment and Capital Markets. Uwais Indonesian inspiration.
