THE INFLUENCE OF DOLLAR EXCHANGE RATE, THE DOW JONES INDEX AND THE INTEREST RATE OF CERTIFICATE OF BANK INDONESIA (SBI) ON THE COMPOSITE STOCK PRICE INDEX (DURING THE PERIOD OF JANUARY 2015 TO DECEMBER 2015)
Abstract
The capital market is one of the investment alternatives for investors. Investors who are willing to invest in the stock market can invest in the Indonesian Stock Exchange (BEI). One index that is often overlooked by investors when they invest in the Indonesia Stock Exchange is the Composite Stock Price Index (CSPI) because, through the movement of the Composite Stock Price Index, the investors can see whether market conditions are energized or lethargic. Some things that need to be considered by investors in investing is the exchange rate of the dollar, Dow Jones index and the interest rate of the certificate of Bank Indonesia. This study aims to test and prove empirically the effect of the dollar exchange rate, the Dow Jones Index, and the interest rate of the certificate of Bank Indonesia upon the Composite Stock Price Index during the period January 2015 to December 2015. The sampling technique used in this study is purposive sampling with the number of the data processed as many as 121. The data analyzed is conducted by means of multiple linear regression methods. The results show that the variables of Dollar exchange rate, Dow Jones, and the Interest Rate of Bank Indonesia Certificate simultaneously affect the Composite Stock Price Index (CSPI), whereas, in partial the Dollar exchange rate, Dow Jones Index, and the rate of interest Bank Indonesia Certificate do not affect the Composite Stock Price Index.
Keywords:
Composite Stock Price Index (CSPI), Dollar Exchange Rate, Dow Jones Index, The Interest rate of Bank Indonesia CertificateDownloads
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