Pengaruh Variabel Makroekonomi Terhadap Indeks Harga Saham Gabungan (IHSG) dan Jakarta Islamic Index (JII) Tahun 2004.1-2013.12

Abstract

The purpose of this research is to determine the effect of macroeconomic variables as independent variables, namely the exchange rate, inflation, and the money supply to the dependent variable, namely Composite Stock Price Index (CSPI), and Jakarta Islamic Index (JII). The method used in this research is descriptive analysis and quantitative analysis using methods Dyanmic Ordinary Least Square (DOLS). Descriptive analysis showed that dependent variables and independent variables showed fluctuation development. While the results of the analysis DOLS, showed that the exchange rate significant negative effect on CSPI and JII, while the exchange rate one previous month and no significant positive effect on CSPI and JII in the short term. Inflation have a negative effect and no significant effect on CSPI and JII, while the inflation one previous month is negative and significant effect on CSPI and JII in the short term. The money supply is no significant and positive effect on CSPI and JII, while the money supply one previous month is negative and no significant effect on CSPI and JII in the short term. But simultaneously the independent variables can explain the relationship of the CSPI and JII in the short term.