PENGARUH INFLASI DAN SUKU BUNGA SBI TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) PADA BURSA EFEK INDONESIA (BEI) TAHUN 2016-2018

Abstract

          This study aims to determine the effect of inflation and SBI interest rates on the Composite Stock Price Index (CSPI). This research was conducted at the Indonesia Stock Exchange (IDX) in 2016-2018. The type of data used in this study is secondary data sourced from www.yahoofinance.com, www.bi.go.id, and www.idx.co.id. The population used in this study is the monthly time series data of all variables. Determination of the sample is based on monthly time series data for the period January 2016 - December 2018 using the saturated sample method, the sample taken includes inflation rate data, SBI interest rate data and the Composite Stock Price Index (CSPI), as many as 36 samples. The analysis technique used is the classic assumption test, multiple linear regression and hypothesis testing.

The results of the multiple correlation analysis (R) show that there is a strong relationship between inflation and the SBI Interest Rate on the Composite Stock Price Index (CSPI). The coefficient of determination (R2) of 0.541 means that the independent variable, namely inflation and interest rates, explains the dependent variable, the Composite Stock Price Index (CSPI) of 54.1% and the remaining 45.9% is explained by other variables not examined. The results of the t test (partial) showed that inflation partially did not have a significant effect on the CSPI and SBI Interest Rates partially had a negative and significant effect on the CSPI. And the results of the F test test (Simultaneous) showed that the variable Inflation and Interest Rates of SBI together affect the CSPI.