Analisis Faktor Eksternal yang Mempengaruhi Indeks Harga Saham Gabungan di Bursa Efek Indonesia Periode 2011 - 2015

Abstract

This study aimed to investigate the effect of inflation, interest rate, exchange rate value, the money supply, And Economic Growth Of Stock Price Index (CSPI) in Indonesia Stock Exchange (BEI) in the period 2011-2015. This study using ECM (Error Correction Model) for testing hypotheses. Based on the test results, it is known that in the short term Inflation, Money Supply and Economic Growth had no significant effect on stock index, interest rate had significant negatif effect, the exchange rate value hadnegatif effect on stock index. In the long-term inflation does not affect the CSPI, Interest and Money Supply positive effect on CSPI, Exchange Rates and Economic Growth Value negatifly affect CSPI.