THE INFLUENCE OF BI RATES, EXCHANGE RATES, EXPORTS, IMPORTS, WORLD GOLD PRICES, AND WORLD OIL PRICES TOWARDS JCI (Case Study on JCI in BEI During the Period 2006-2015)
Abstract
Today the stock market is one economic instrument that is growing rapidly. Stock
price index is a measure of the performance of the capital markets. Capital
markets have an important role for the economy in a country. Capital markets run
multi function, the first as a means of funding for business or a means for
companies to obtain funds from investors or investor (Husnan, 2004). In
Indonesia, the investors are interested in investing in the stock market can invest
in the Indonesia Stock Exchange (BEI)
This study aimed to analyze the effect of variable BI Rate, Exchange Rate,
Export, Import, World Gold Price, and World Oil Price on the Jakarta Composite
Index. The data used in this research is secondary data the end of each month
during the observation period between January 2006 - December 2015 For the
processing and analysis of data in this research is by using SPSS as software for
data processing. Statistical analysis showed that the product and service solutions
(SPSS) with 22.0 as software to process data.
The empirical findings indicate that the relationship Exchange rate against
the Jakarta Composite Index (JCI) has the highest regression coefficient with a
value of 0.452, then the influence of the BI Rate to Jakarta Composite Index (JCI)
with the value of regression coefficient of -0.079, the relationship between Export
to Jakarta Composite Index (JCI) has a regression coefficient of the highest
second with a value of 0.423, the relationship between the Import of the Jakarta
Composite Index (JCI) has a regression coefficient of the lowest with a value of
0.175, the relationship between the World Gold Price on the Jakarta Composite
Index (JCI) has a regression coefficient by 0.124, and finally the relationship
between the World Oil Price on the Jakarta Composite Index (JCI) has a
regression coefficient of 0.017.