Effect of Exchange Rate and Global Index in Five Countries Against CSPI
DOI:
https://doi.org/10.38035/jafm.v1i1.11Keywords:
Exchange Rate, Global Index and Composite Stock Price Index.Abstract
This study aimed to determine the correlation between Exchange Rate and Global Index on Composite Stock Price Index in Indonesia Stock Exchange in 2014-2019 partially and simultaneously. Exchange Rate and Global Index is proxied by five countries namely Hong Kong, Japan, USA, Singapore, and China. The data used is secondary data obtained through the Official Website of Bank Indonesia for variable Exchange Rate, Official Website Yahoo Finance and Official Website Investing.com for variable Global Index. The methods of data analysis used is multiple linear regression. The results showed that the HKD, JPY, USD, SGD, CNY, and STI partially insignificant on CSPI, as well as HSI and DJIA partially positive effect significant on CSPI, while N225 and SSEC partially negative effect significant on CSPI. Simultaneously, all the variables have a significant effect by influencing by 93.9% while the remaining 6.1% is explained by other variables not examined in this study.
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Hidayat, Riskin. 2016. “Pengaruh Nilai Tukar, Suku Bunga, Inflasi, Indeks Nikkei 225, Indeks Dow Jones dan Indeks Shanghai Stock Exchange Terhadap Indeks Harga Saham Gabungan (Studi Empiris pada Bursa Efek Indonesia)“. Jurnal Administrasi dan Bisnis. Vol. 2 (1).
Kusumawati, Dyah Ayu and Nadia Asandimitra. 2017. “Impact of Global Index, Gold Price and Macro Economic Variable for Indonesia Composite Index“. Research Journal of Finance and Accounting. Vol. 8 (2), pp : 53-62.
Medyawati, Henny and M. Yunanto. 2016. “The role of exchange rate and global stock index in the movement of Indonesia composite stock price index“. Social Sciences and Interdisciplinary Behavior – Lumban Gaol et. al. (Eds). pp : 297 – 302.
Nidar, Sulaeman Rahman and Erwin Jaya Diwangsa. 2017. “The Influence of Global Stock Index and the Economic Indicators of Stock Investment Decision by Foreign Investors in the Indonesian Stock Exchange“. Journal of Finance and Banking Review. Vol. 2 (1), pp : 32 – 37.
Official Website Bank Indonesia. Exchange Rate against HKD, JPY, USD, SGD, and CNY [online] available at (www.bi.go.id) [January 23rd, 2020]
Official Website Investing.com. Global Index (the STI and the SSEC) [online] available at (www.investing.com) [January 24th, 2020]
Official Website Yahoo Finance. Global Index (the HSI, the N225, and the DJIA) and the CSPI [online] available at (www.finance.yahoo.com) [January 24th, 2020]
Pamungkas, Bella Cesaria and Ari Darmawan. 2018. “Pengaruh Nilai Tukar USD dan Bursa Asean terhadap Indeks Harga Saham Gabungan (IHSG) (Studi pada Bursa Efek Indonesia Periode 2014 - 2016)“. Jurnal Administrasi Bisnis. Vol. 60 (1).
Priyono, Budi. 2019. “Pengaruh Nilai Tukar Mata Uang, Tingkat Suku Bunga dan Indeks Saham Global Terhadap Pergerakan IHSG Periode 2011 – 2015“. Journal of Business Administration Economic & Entrepreneurship. Vol. 1 (1).
WA, Armelia Reny and Yudhinanto. 2018. “Analisis Pengaruh Suku Bunga SBI, Nilai Kurs, Harga Emas Dunia, Indeks Dow Jones, dan Indeks Hang Seng Terhadap IHSG (Studi Pada BEI Periode 2007 - 2016)“. Jurnal Ekonomi. Vol. 20 (1).
Wardiyah, Mia Lasmi. 2017. Manajemen Pasar Uang dan Pasar Modal, Cetakan 1. Pustaka Setia: Bandung.
Wati, Lela Nurlaela. 2018. Metodologi Penelitian Terapan : Aplikasi SPSS, Eviews, Smart PLS dan Amos, Edisi Kedua. Pustaka Amri: Bekasi.
Wulandari, Winda, Deswita Herlina, and Tony S. Chendrawan. 2019. “Dampak Kurs, SBI, Inflasi, dan Indeks Nikkei 225 Terhadap Indeks Harga Saham Gabungan di Bursa Efek Indonesia“. Jurnal Ilmu Ekonomi. Vol. 9 (2).
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Published
2020-05-02
How to Cite
Mulyadi, M. (2020). Effect of Exchange Rate and Global Index in Five Countries Against CSPI. Journal of Accounting and Finance Management, 1(2), 46–58. https://doi.org/10.38035/jafm.v1i1.11
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