Analysis Of Theeffectof Inflation, BI Rate On Stock Price Volatility Through Currency Exchange As Intervening Variable In Consumer Goods Industry In IDX

Nely Supeni,Mustofa Mustofa

doi:10.32528/agribest.v4i1.3005

Abstract

This study to analyze the Influence of Inflation, BI Rate on Stock Price Volatility through Currency Exchange as Intervening Variables in Consumer Goods Industry on the Indonesia Stock Exchange. This type of research is a descriptive quantitative research that is quantitative research that describes the results of comparison in five companies in the Consumer Goods Industry sector are PT. Mayora Tbk, PT. Multi Bintang Indonesia Tbk, PT. Tempo Scan Pacific Tbk, PT. Ultrajaya, Tbk, PT. Unilever Tbk. Analysis of the data used is Path Analysis. Based on the analysis of the path of direct influence obtained the results of the study as follows: Currency Exchange has a significant and negative influence on Stock Price Volatility only at PT. Tempo Scan Pacific, Inflation has a significant and negative influence on Stock Price Volatility only at PT Unilever, while the other four companies have no significant effect. BI Rate is significant and negative towards Stock Price Volatility only at PT. Tempo Scan Pacific while the other four companies had no significant effect. The results of the analysis of indirect influence paths obtained that at PT. MayoraTbk, Currency Exchange is able to mediate the indirect effect between the BI Rate on Stock Price Volatility. At PT. Multi Bintang Indonesia Tbk, Currency Exchange is able to mediate the indirect effect between Inflation on Stock Price Volatility, and Currency Exchange able to mediate the indirect effect between BI Rate on Stock Price Volatility. In other companies, the Currency Exchange is unable to analyze the effect of the independent variable on the dependent variable

Highlights

PENDAHULUAN Istilah “saham” saat ini sudah tidak asing lagi bagi masyarakat Indonesia
a descriptive quantitative research that is quantitative research that describes the results of comparison in five companies
on the analysis of the path of direct influence obtained the results of the study

Summary

METODE PENELITIAN Jenis Penelitian

Berdasarkan pengumpulan data yang dilakukan, data Inflasi, BI Rate, Kurs Mata Uang pada tahun 2018 untuk semua perusahaan sektor Costumer Goods Industry nilainya sama, sehingga apabila data tersebut di buat rata-rata untuk 50 perusahaan, maka Analisis Jalur (path analysis) tidak bisa dilakukan. Selanjutnya dari kelima sampel tersebut dilakukan analisis komparasi sehingga Pengaruh variabel independen terhadap variabel dependen (volatilitas harga saham) pada masing-masing perusahaan dapat terlihat jelas perubahannya. Analisis data yang digunakan dalam penelitian ini adalah analisis jalur (path analysis). Apabila t hitung lebih besar dari t tabel maka dapat disimpulkan bahwa terjadi pengaruh mediasi, artinya variabel intervening (Z) mampu memediasi pengaruh variabel independen (X) terhadap variabel dependen (Y). Hasil dari perkalian tersebut selanjutnya dibandingkan dengan koefisien jalur pengaruh langsung variabel X1 terhadap Y

HASIL DAN PEMBAHASAN

Inflasi terhadap terhadap Volatilitas

Begitupun sebaliknya apabila Kurs Mata

Rate turun maka Volatilitas Harga

DAFTAR PUSTAKA