Indonesia Interest Rate Research Articles

ANALYSIS OF SHARE PERFORMANCE USING THREE FACTORS MODEL FAMA AND FRENCH (TFMFF) IN ILQ-45 STOCK PERIOD 2017-2020

Research conducted by Fama and French in 1996 showed that there were factors other than the beta that were significantly able to predict stock returns. However, several subsequent studies showed inconsistent results. The discrepancy between the results of previous studies prompted this research to be carried out. In this study, the researchers selected the stocks used based on the criteria for company profits and return on equity (ROE) offered by Warren Buffett. This study uses Buffett's criteria in selecting stocks that are used to analize TFMFF in estimating the return of stocks grouped into the Fama French portfolio. The method used is quantitative. The secondary data used are quarterly close price data, mining company equity value, Bank Indonesia interest rate (risk-free rate), and number of outstanding shares (number of shares outstanding). The results show that the TFMFF is accurate in predicting stock returns.

The effect of mergers, BOPO, NPF, growth, and the BI rate on murabahah margin income in Islamic mortgage products at Bank Syariah Indonesia

This study aims to analyze the effect of mergers, economic growth, the volume of murabaha financing, Bank Indonesia interest rates, and other variables on murabaha income on sharia pawn products at Bank Syariah Indonesia. The results of this study indicate that murabaha margin income is used as the dependent variable in this study. Dummy variables, five independent variables that have a large influence on the results, two independent variables that do not have a significant impact on the results, and one dummy variable are one of the seven independent variables used in this study. The model used is multiple linear regression with the OLS method. The findings of this study indicate that neither inflation nor fluctuations in the volume of murabaha financing have a significant effect on income from murabahah margins. Income from murabaha margins, however, is very negatively affected by non-performing financing (NPF) variables. Operating expenses as a percentage of operating income (BOPO), BI rate, growth, and aggregation dummy all have a large beneficial impact on earnings on murabahah margins.

Pengaruh Pertumbuhan Ekonomi, Kapitalisasi Pasar, Suku Bunga Bank Indonesia, Inflasi, Dan Volatilitas Harga Saham Sebagai Variable Moderating Terhadap Kinerja Pasar Saham Perbankan Syariah Di Indonesia

ABSTRACT This research purpose to explore and analyze the effect of growth, market capitalization, Bank Indonesia interest rates, and inflation on the stock market performance of Indonesian Islamic banks, moderated by stock price volatility. The method of data collection in this study is the method of documentation. The population of this study is all Islamic banks registered in Indonesia. The samples for this study are islamic banking financial statements and annual reports from the 14 largest Islamic commercial banks in Indonesia. This research approach uses moderate regression analysis analyzed with SPSS. As a result, economic growth has a significant positive effect on stock market performance, market capitalization has a significant positive effect on stock market performance, interest rates have a significant negative effect on stock market performance, Inflation has proven to have a significant negative effect on stock market performance, meanwhile, Stock Price Volatility is able to moderate Economic Growth, Market Capitalization, Interest Rates, Inflation against The Performance of the Indonesian Islamic Banking Stock Market. Keywords: Economic Growth, Market Capitalization, Bank Indonesia Interest Rates, Inflation, Stock Price Volatility, Stock Market Performance

Monetary Reaction Function in Indonesia During Inflation Targeting Period

This study analyzes the monetary reaction function with shocks and the fear of floating phenomenon in the inflation targeting period in Indonesia. This study uses a new neoclassical synthesis approach. The unit root test result explains that all variables are stationary or I(0), and the long-run regression model is estimated. The results show that interest rates respond positively to future inflationary (counter-cyclical) in the log-run. The effect of triple shocks on interest rates in Indonesia is estimated using the Forward-Looking Model (FLM) and Error Correction Model (ECM). Using a predictive model performance (informal test), the best model in this study is FLM. In the short-run, only fluctuations in world oil prices significantly affect interest rates (counter-cyclical policy). Furthermore, BI's response to future inflation cannot be compared with BI's response to economic fluctuations, so this study has not been able to explain the significant effect of economic fluctuations on deposit interest rates. It means that the fear of the floating phenomenon cannot be explained in this study.

Effect of the BI Rate, Inflation and Exchange Rates on Consumer Goods Stock Prices

In the midst of the current economic conditions, with an increase in Bank Indonesia's interest rates, consumer sector stocks became the main choice for investors, because they are defensive stocks. Investors tend to accumulate stocks in this sector, after the post-Covid economic recovery has occurred, the public has the potential to increase consumption, this is expected to have an impact on the condition of consumer goods stocks. The capital market has a very important role for all sectors, both private, government and society in general. Investors must pay attention to macroeconomic variables including Bank Indonesia interest rates, inflation and the Rupiah exchange rate. Under these conditions, research was conducted with the aim of analyzing, testing and concluding the influence of the BI Rate, Inflation, and the Rupiah exchange rate on consumer goods stock prices on the Indonesian Stock Exchange for the period 2018 – 2022. Using secondary data on companies listed on the Indonesia Stock Exchange, has complete financial reports, has stock price information from January 2018 to October 2022. Analysis data is processed using multiple linear regression and classical assumption tests with quantitative analysis techniques using SPSS 25. The results show simultaneously the influence of the BI Rate, Inflation, Rupiah exchange rate against consumer goods stock prices.

Pengaruh Inflasi Dan Tingkat Suku Bunga Bank Indonesia (BI) Terhadap Profitabilitas Bank Sumut Kantor Cabang Pembantu Syariah Karya Medan Tahun 2017-2021

This research is entitled "The Influence of Inflation and Bank Indonesia (BI) Interest Rates on the Profitability of North Sumatra Bank Karya Medan Syariah Sub-Branch Office in 2017-2021". The purpose of this study was to determine the effect of inflation on the profitability of the North Sumatran bank's sharia sub-branch office Karya Medan in 2017-2021, the influence of interest rates on the profitability of the North Sumatra bank's sharia sub-branch office Karya Medan in 2017-2021 and the effect of inflation and interest rates simultaneously on the profitability of North Sumatran banks. sharia sub-branch office Karya Medan in 2017-2021. The research method used in this study is a qualitative descriptive method with primary and secondary data. The research results obtained are interest rates and inflation simultaneously have a significant effect on profitability as measured by Return on Assets (ROA).

Pengaruh Pengumuman Pembatasan Aktivitas Masyarakat dan Restrukturisasi Kredit terhadap Tingkat Bunga Antar Bank

This study aimed to analyze the effect of public activity restriction announcements and credit restructuring on interbank interest rates in Indonesia during the Covid-19 pandemic. This study used the event study method by analyzing changes in interbank interest rates 5 days before and after the announcement event. The announcement of restrictions on community activities consisted of the announcement of the first Covid-19 case in Indonesia, the first PSBB, the second PSBB and emergency PPKM. Meanwhile, the announcement of credit restructuring consisted of a presidential announcement regarding credit relief, the Minister of Finance regarding MSME credit relief and the Chairman of the OJK regarding extending credit relaxation. From the results of the analysis, only the announcement of the minister of finance regarding MSME credit relief had an effect on interbank interest rates.

THE MACRO-PRUDENTIAL POLICY AND BANK NON-PERFORMING ASSETS IN INDONESIA

<em><span lang="EN-US">This study examines the effect of the Macro-prudential Intermediation Ratio (MIR) as an instrument of Bank Indonesia's macro-prudential regulation on Non-Performing Assets (NPA) as one of the banking industry performance indicators in Indonesia. In addition, this study also examines several other independent variables such as bank assets as an indicator of bank size, Bank Indonesia interest rates (BI rate), and inflation as macroeconomic indicators and their effect on NPA. The NPA, MIR, and bank asset data used in this study consist of 109 commercial banks operating in Indonesia during the period from January 2015 to December 2020. This study uses an Ordinary Least Square (OLS) analysis approach by undertaking classical assumption tests and statistical tests. The results show that (1) MIR, bank assets, BI rate, and inflation simultaneously have a significant effect on NPA (2) Partially, bank assets have a negative and significant effect on NPA while other variables including macro-prudential policy have no significant effect on NPA (3) Variable MIR, bank assets, BI rate, and inflation can explain variations of NPA variable by 34% (4) Larger bank size encourages prudent financing and reduces NPA.</span></em>

Analisis Dampak Instrumen Kebijakan Moneter Terhadap Stabilitas Perekonomian di Indonesia

The purpose of this study is to determine how the influence of monetary policy instruments on economic stability in Indonesia. Monetary policy instruments as exogenous variables are policies in the money supply M2 (X1) and Bank Indonesia interest rates (X2) while indicators of economic stability as endogenous variables can be seen from price stability (Y1) and exchange rate stability (Y2). This research is descriptive and associative research. The data used in this study is monthly secondary data from January 2001 to December 2020 which was collected through documentation from the relevant agencies. The data analysis used in this research is descriptive analysis and inductive analysis. In the inductive analysis there are several tests, namely (1) Stationarity Test; (2) Cointegration Test; (3) Multiple Linear Regression Test and Error Correction Model (ECM); (4) Classical Assumption Test; (5) T test and F test. The results of this study is: (1) in the long term and short term the money supply M2 has a negative effect on price stability in Indonesia; (2) Bank Indonesia interest rates in the long term and short term have a positive influence on price stability in Indonesia; (3) in the long term and short term The money supply M2 has a positive influence on the stability of the exchange rate in Indonesia; (4) Bank Indonesia interest rates in the long term and short term have a positive influence on exchange rate stability in Indonesia.

Pengaruh Ukuran Bank, Fungsi Intermediasi Bank dan Variabel Moneter Terhadap Pertumbuhan Ekonomi Indonesia Periode 2015-2020

This study aims to determine the effect of bank size, bank intermediation function and monetary variables on Indonesia's economic growth in the long and short term. This type of research is quantitative research using secondary data with quarterly data format for the period 2015 – 2020. This research uses the Error Correction Model (ECM) method. The variables used in this research are bank total assets, loan to deposit ratio (LDR), Bank Indonesia's Interest Rate and inflation. The results of this study indicate that based on the results of the Ordinary Least Square (OLS) estimation, bank total assets and the reference interest rate have a significant negative effect on Indonesia's economic growth in the long term and the loan to deposit ratio and inflation variables have a significant positive effect on Indonesia's economic growth in the long term. Based on the results of the cointegration test, it has been stationary at the level, so that cointegration occurs between variables. Based on the results of the short-term ECM test, the loan to deposit ratio (LDR) variable and inflation have a significant positive effect on Indonesia's economic growth.

MIST Ülkelerinde Tüketici Güveninin Sermaye Piyasalarına Etkisinin İncelenmesi

Bu çalışmanın amacı MIST (Meksika, Endonezya, Güney Kore ve Türkiye) ülkelerinde yatırımcı duyarlılığını temsil eden tüketici güven endekslerinin sermaye piyasaları ile ilişkisini ve bu ilişkinin yönünü incelemektir. Çalışmada 2010 Haziran – 2020 Şubat dönemi ele alınmıştır. Eş bütünleşme testi ile, MIST ülkelerinde tüketici güven endeksleri ile ülkelerin gösterge borsa endeksleri ve 10 yıllık gösterge tahvil faiz oranları arasında eş bütünleşme ilişkisinin olduğu sonucuna ulaşılmıştır. Elde edilen bu bulgu, MIST ülkelerinde tüketici güven endeksi ve sermaye piyasalarının uzun dönemde birlikte hareket ettiğini göstermektedir. Değişkenler arasındaki kısa dönemli ilişki araştırıldığında ise Endonezya ve Türkiye’de tüketici güveni ve sermaye piyasaları arasında anlamlı kısa dönemli ilişki tespit edilmiştir. Nedensellik analizi ise bu ilişkilerin yönünün Endonezya ve Türkiye’de tüketici güven endeksinden 10 yıllık tahvil faiz oranlarına; Meksika ve Endonezya’da tüketici güven endeksinden borsa endeksine; Güney Kore’de ise tüketici güven endeksinden borsa endeksine ve borsa endeksinden tüketici güven endeksine doğru olduğu belirlenmiştir. Yükselen ekonomiler arasında gruplandırılan MIST ülkelerinde tüketici güveninin sermaye piyasalarını etkilediği sonucuna ulaşılmıştır.

Pengaruh Inflasi, Nilai Tukar Rupiah, dan Suku Bunga BI terhadap Harga Saham Perusahaan Sub Sektor Properti dan Real Estate yang Terdaftar di BEI Periode 2016-2020

This research aims to determine the simultaneous and partial influence of inflation, Rupiah exchange rate, and Bank Indonesia interest rate against the share price of the company's Sub-sector property and Real Estate listed on Indonesia Stock Exchange period 2016-2020. The object of this research is the share price of company Sub sector property and Real Estate. This research has a population of 47 companies with sampling using purposive sampling, resulting in samples amounting to 32 companies. Research analysis techniques use multiple liner regression analysis techniques. The hypothesis test uses the F and T test. The results of simultaneous testing analysis, it is known that the variable inflation, Rupiah exchange rate, and Bank Indonesia interest rates are significantly significant to the share price of company Sub-sector and Real Estate companies. Partial inflation is significantly positive and significant, the Rupiah exchange rate has no effect, Bank Indonesia's interest rate is negatively and significantly impacted by the company's share price of Sub property and Real Estate.
 Keywords: Stock market, Inflation, Exchange Rate, Real Estate, Property sub sector

Pengaruh Inflasi, Suku Bunga Bank Indonesia, dan Nilai Tukar Rupiah (USD/IDR) terhadap Indeks Saham Bisnis-27 di Bursa Efek Indonesia (BEI)

This research aims to test the influence of macroeconomic factors namely Inflation level, Suku Bunga Bank Indonesia and rupiah exchange rate (USD / IDR) on the Business Stock Price Index-27 simultaneously and partially. The research method used is quantitative method. Research data collection is done by taking data related to macroeconomics from online data search. This study uses secondary data obtained from the official website online in the form of summaries of reports per month. The population in this study is a time series data for 60 months with a time period of January 2016 - December 2020. In this study used saturated sample techniques. So obtained data that amounted to 60 samples of research data. The data analysis technique in this study uses multiple linear regression analysis. The results of analsis from simultaneous testing, it is known that variable Inflation (X1), Bank Indonesia Interest Rate (X2), and Rupiah Exchange Rate (USD/ IDR) (X3) have a significant effect on the Business Stock Price Index-27. Partially Inflation has a positive and significant effect, Bank Indonesia Interest Rate has a negative and significant effect, the Rupiah Exchange Rate has no effect on the Business Stock Price Index-27.
 Keywords: Inflation, Bank Indonesia Interest Rate, Rupiah Exchange Rate, Business Index-27

PENGARUH INFLASI DAN SUKU BUNGA TERHADAP KINERJA KEUANGAN BANK MUAMALAT INDONESIA PERIODE 2016-2020

This study aims to determine the effect of inflation and interest rates on the financial performance of Bank Muamalat Indonesia (BMI). The inflation variable is measured by calculating the Consumer Price Index (CPI). The interest rate variable is measured by calculating the real interest rate. The performance variable is measured by calculating the return on assets of BMI from 2016-2020. This research method uses quantitative methods. The data used are secondary data in the form of published quarterly BMI financial ratio reports and published data on inflation as well as Bank Indonesia (BI) interest rates. Data were analyzed using multiple linear regression with the help of SPSS 22 to test the partial and simultaneous effect of 2 independent variables and 1 dependent variable. The results of this study indicate that the inflation variable partially has an effect on ROA and the interest rate variable has no effect on ROA. Simultaneously these two variables have no effect on ROA.

Influence of Electricity Consumption of Industrial and Business, Electricity Price, Inflation and Interest Rate on GDP and Investments in Indonesia

This study aims to explore the influence of electricity consumption, electricity price, inflation and interest rate on GDP and investments in Indonesia in the period 2001-2018. This paper is explanatory research. A Generalized Structured Component Analysis was a component-based approach to Structural Equation Modelling has used as a research model. The empirical analysis uses time-series data of GDP, Electricity Consumption, Electricity Price, Inflation Rate, Interest Rate, Investments and GDP in Indonesia in the period 2001-2018. The findings of this study are electricity consumption has a significant positive effect on GDP and electricity price. Electricity price has an insignificant positive effect on electricity consumption and investment. GDP has a significant positive effect on electricity consumption but insignificant on investment and inflation. Investment has an insignificant negative effect on electricity consumption and inflation. Inflation has a significant positive effect on the interest rate, vice versa, but is insignificant to electricity consumption. The interest rate has an insignificant positive effect on investment. The Originality of this study, namely previous studies focused more on the relationships and causality between Electricity Consumption, FDI, GDP, while in this study the emphasis is more on predictions between latent variables using the GSCA. In previous studies using total electricity consumption, in this study, the latent variable of electricity consumption is formed by industry electricity consumption and business electricity consumption which is productive consumption in increasing GDP. This study uses a multi-variate study consisting of Electricity Consumption of Industrial and Business, Electricity Price, Investment, GDP variables, and adding Inflation Rate and Interest Rate that represent macro-economic conditions in the research model.

Economic Challenges And The Potential Threat Of A Debt Trap In Asia

This study attempts to investigate the potential for public debt traps in countries in Asia, especially Southeast Asia, Sri Lanka, and Timor Leste. This study employs a vector panel model using secondary data from annual Reports in a quantitative manner from the world bank. This study investigates samples from 12 Asian countries, namely Sri Lanka, Timor Leste, Indonesia, Malaysia, Singapore, Philippines, Thailand, Brunei Darussalam, Vietnam, Laos, Myanmar, and Cambodia. we use an annual research time period from 1990 to 2020. We found that economic growth, consumption growth, government spending, total debt arising from bond sales, and interest rates in Sri Lanka, Timor Leste, Indonesia, Malaysia, Singapore, Philippines, Thailand, Brunei Darussalam, Vietnam, Laos, Myanmar, and Cambodia influence each other significantly. This shows that public debt has an impact on almost all lines of the economic sector. When the public debt is not balanced by the real sector, which is represented by economic growth, consumption growth, and government spending, it will become a threat to the economy when public debt payments are due and state revenues are insufficient to make payments and the real sector is not strong enough to support cash outflows. As a result of the payment of a public debt, there is the potential for a crisis as well as interest rates which have an impact on public debt, where the higher the interest rate, the more burdensome the real sector will be in providing compensation for loans received at the specified interest rate.

Pengaruh Faktor Makroekonom Terhadap Return Saham Bank Panin Dubai Syariah

This research was conducted to determine and analyze the macroeconomic influence on returns stock at Bank Panin Dubai Syariah Tbk in Indonesia partially or simultaneously. The data used in this study is secondary data per month obtained from financial reports published by the Indonesia Stock Exchange officially on the internet site and external data in the form of reports on Bank Indonesia interest rates, inflation, and Rupiah exchange rates published by Bank Indonesia in 2015-2020 period. The type of data used is quantitative data. The analytical method used is descriptive analysis method using multiple regression equation technique. The results of the study show that simultaneously the variables of Bank Indonesia interest rates, inflation and the Rupiah exchange rate have an effect on stock returns. Partially BI interest rates have a positive effect on stock returns. Inflation partially has a positive effect on stock returns and the exchange rate has a negative effect on stock returns.

Determinants of The Indonesia Composite Index Movement in The Covid-19 Pandemic Era

The Indonesia Composite Index, or the composite stock price index (IDX Composite), experienced a sharp decline at the beginning of the Covid-19 pandemic, from 6,323 in January to 3,937 in March 2020. If IDX composite continues to plummet in the long term, the worst impact will hit the performance of issuers or public companies. This study aims to analyze the factors that influence the IDX Composite in the era of the Covid-19 pandemic. This research is a quantitative study using ARCH-GARCH analysis techniques and data testing using the EViews program. The population used in this study was IDX Composite, and the sample was IDX Composite from January to December 2020. The results showed that the rupiah exchange rate partially had a significant negative effect on the IDX Composite. Meanwhile, Bank Indonesia's interest rate has a significant and positive effect on the IDX Composite in the era of the Covid-19 pandemic. Meanwhile, Inflation did not significantly affect the IDX Composite in the era of the Covid-19 pandemic.

The Effect of Economic Growth, Inflation Rate, and Interest Rates of Bank Indonesia on the Composite Stock Price Index on the Indonesia Stock Exchange for the 2015-2019 Period

Generally, investors use the Composite Stock Price Index (IHSG) as a parameter of stock performance listed on the Indonesian stock exchange. One of the factors that can affect the JCI is macroeconomic factors such as economic growth, inflation, and interest rates. This study aims to determine the effect of economic growth, inflation rate, and interest rates of Bank Indonesia on the JCI. The population and samples in this study are quarterly economic growth, inflation, Bank Indonesia interest rates, the monthly Composite Stock Price Index (JCI) from 2015-2019. Testing the hypothesis of this study using the validity and reliability test with the SmartPLS version 3. The results showed that the variables of economic growth and inflation had no significant effect on the Composite Stock Price Index (JCI). Meanwhile, the interest rate variable of Bank Indonesia has a significant effect on the JCI.

P PENGARUH NON-PERFORMING LOAN DAN SUKU BUNGA BANK INDONESIA TERHADAP LABA BERSIH PT. BANK MEGA

This study was conducted to determine the effect of non-performing loans and the effect of bank interest rates on the performance of a bank with net income in the range of 2013 to 2019. This study uses SPSS and interviews as primary instruments in obtaining and analyzing data, the results of this study is that NPL has no significant effect on Bank Mega's net profit, and Bank Indonesia's interest rate also does not have a significant effect on Bank Mega's net profit, then it is also found that NPL and Bank Indonesia's Interest Rate simultaneously contribute 9.3% to profit Bank Mega's net and the remaining 90.7% is influenced by other unknown factors. 
 
 Keywords: Non Performing Loan, Bank Indonesia interest rate, net profit