Dampak Inflasi, Suku Bunga, Nilai Tukar Rupiah, Dan IHSG Terhadap Harga Saham Perusahaan Perbankan

Abstract

Tujuan Penelitian: Penelitian ini menganalisis pengaruh inflasi, suku bunga, nilai tukar rupiah, dan IHSG terhadap harga saham perusahaan perbankan yang terdaftar di Bursa Efek Indonesia selama periode 2020–2023.

Metode Penelitian: Pendekatan kuantitatif digunakan dengan regresi linier berganda untuk menganalisis data sekunder dari publikasi Bank Indonesia dan Bursa Efek Indonesia. Sampel penelitian terdiri dari 45 perusahaan perbankan dengan 180 data observasi. Analisis dilakukan menggunakan SPSS dengan uji asumsi klasik, koefisien determinasi, uji F, dan uji t.

Originalitas: Penelitian ini mengisi celah akademis dengan mengkaji pengaruh variabel makroekonomi terhadap harga saham perbankan di Indonesia yang masih jarang dibahas.

Hasil Penelitian: Secara simultan, inflasi, suku bunga, nilai tukar rupiah, dan IHSG tidak berpengaruh signifikan terhadap harga saham. Secara parsial, variabel-variabel tersebut juga tidak menunjukkan pengaruh signifikan. Rendahnya koefisien determinasi menunjukkan adanya faktor lain yang mempengaruhi harga saham.

Implikasi: Temuan ini memberi wawasan bagi investor dan manajemen perusahaan dalam pengambilan keputusan investasi dan strategi keuangan. Penelitian ini juga menjadi referensi untuk studi selanjutnya tentang pengaruh makroekonomi terhadap sektor perbankan di Indonesia.

Research Objective: This study analyzes the impact of inflation, interest rates, exchange rates, and the Composite Stock Price Index (IHSG) on stock prices of banking companies listed on the Indonesia Stock Exchange during the period 2020–2023.

Research Method: A quantitative approach using multiple linear regression is applied to analyze secondary data from publications by Bank Indonesia and the Indonesia Stock Exchange. The study sample consists of 45 banking companies with 180 observations. Data analysis is conducted using SPSS, including classical assumption tests, coefficient of determination, F-test, and t-test.

Originality: This research fills an academic gap by examining the impact of macroeconomic variables on stock prices of banking companies in Indonesia, a topic that has been rarely addressed in previous literature.

Research Results: The results show that, simultaneously, inflation, interest rates, exchange rates, and IHSG have no significant effect on stock prices. Furthermore, individually, these macroeconomic variables also do not show a significant effect. The low coefficient of determination indicates that other factors, outside of the studied macroeconomic variables, influence stock prices.

Implications: These findings provide insights for investors and company management in making investment decisions and financial strategies. The study also serves as a reference for further research on the impact of macroeconomic factors on the banking sector in Indonesia.