SBI Interest Research Articles

Pengaruh Faktor-Faktor Ekonomi Makro terhadap Jakarta Islamic Index (JII) Periode 2010-2019

This study aims to determine and analyze the influence of macroeconomic factors such as Gross Domestic Product (GDP), Inflation Rate, SBI Interest Rate, Rupiah / US Dollar exchange rate on the JII (Jakarta Islamic Index) Stock Price Index on the Indonesia Stock Exchange for the period 2010-2019. This study uses an associative quantitative approach which is intended to examine the relationship and influence between macroeconomic factors variables on the JII stock price index variable. Meanwhile, the analysis method used is multiple linear regression. The results of this study indicate that only the rupiah/US dollar exchange rate has a significant negative effect on the JII stock price index. While macroeconomic factors such as Gross Domestic Product, Inflation Rate, SBI Interest Rate have no significant effect on the JII stock price index.

The Influence of Economic Variables on Stock Prices of Telecommunications Companies

The general background fluctuation of stock prices is a critical concern for investors, particularly in dynamic economic environments where various indicators can significantly impact financial performance. The specific background of this study focuses on the telecommunications sector, which has been increasingly influenced by economic variables such as the Inflation Rate, SBI Interest Rate, Earnings Per Share, Rupiah Exchange Rate, and Company Fundamentals. Despite existing research, there is a knowledge gap regarding how these factors collectively influence stock prices in publicly listed telecommunications companies. This study aims to investigate the effects of these economic variables on stock prices from 2020 to 2023, utilizing a quantitative approach with secondary data obtained from annual financial reports of 16 companies. The results demonstrate that all examined variables—Inflation Rate, SBI Interest Rate, Earnings Per Share, Rupiah Exchange Rate, and Company Fundamentals—significantly affect stock prices. The novelty of this research lies in its comprehensive analysis of the interplay between these economic indicators specifically within the telecommunications sector. The implications of these findings suggest that investors and policymakers should consider these economic factors when making investment decisions, thereby enhancing their financial strategies and contributing to a more robust understanding of stock market dynamics in the telecommunications industry. Highlights: All examined economic variables significantly affect stock prices. The study analyzes data from 16 publicly listed telecommunications companies. Findings enhance investment strategies and understanding of market dynamics. Keywords: Inflation, Interest Rate, Earnings Per Share, Exchange Rate, Stock Price

Determination of Share Prices in Automotive Manufacturing Companies

Economic development and growth have increased significantly in the era of globalization. The capital market is one source of economic development in a country which has an important role as a means of financial funding for a company so that it can obtain financial resources from investors. The capital market provides long-term financial instruments with a maturity of more than one year, such as shares, bonds or what are usually called debentures, mutual funds and Exchange Traded Funds/ETFs, as well as derivatives. This aims of the research was to determine and analyze the influence of fundamental company conditions, the rupiah exchange rate and (Sertifikat Bank Indonesia/SBI) interest rates on share prices. This research used quantitative research and an associative approach carried out on automotive manufacturing companies listed on the IDX in 2018-2022. The total sampling technique was chosen for sampling. The results of this research are that the fundamental conditions of the company have a significant effect on share prices, while the rupiah exchange rate and SBI interest rates do not have a significant effect on share prices. This means that investors can consider the fundamental conditional condition of the company when they want to invest in shares, this research because a decrease or increase in the DER can affect the share price of automotive companies listed on the Indonesian Stock Exchange in 2018-2022.

THE EFFECT OF BOND RATING, DEBT TO EQUITY RATIO, LIQUIDITY, AND SBI INTEREST RATES ON CORPORATE BOND YIELD TO MATURITY

Judging from Indonesia's investment opportunities every year, the average investment opportunity has increased from year to year. This proves that Indonesia's investment activities should be given primary attention, both when the country's economy is deteriorating and when the country's economy is improving. The aim of this research isto determine the development of bond ratings, debt to equity ratio, liquidity, SBI interest rates on the yield to maturity of corporate bonds listed on the IDX for the 2017-2021 period and to determine the influence of bond ratings, debt to equity ratio, liquidity, SBI interest rates partially and simultaneously on the yield to maturity of corporate bonds.The analytical method used is the descriptive method and verification method with a sample of 7 companies. The results show that partially the bond rating and SBI interest rate variables have a positive and significant effect on yield to maturity, while the debt to equity ratio and liquidity variables have no significant effect on yield to maturity and simultaneously there is at least one independent bond rating variable, debt to Equity ratio, liquidity and SBI interest rates influence the yield to maturity of corporate bonds. This conclusion provides important insight into the factors that can influence the yield to maturity of corporate bonds on the IDX, which can be a guide for market players and companies in making financial decisions.

STRATEGI PEMERINTAH INDONESIA MENGATASI MASALAH EKONOMI PADA MASA REFORMASI (1999 – 2004)

The 1997 economic crisis was a miserable history for the Indonesian. The New Order government, which was unable to handle the storm of crises, made people's lives even more miserable. The economic reforms carried out by the post-New Order government were expected to overcome the crisis. This study aims to explore the various strategies adopted by the government at the beginning of the reform to deal with the crisis. The government in question is from 1999 to 2004. The research method uses the historical method with 4 steps, namely heuristics, verification, interpretation, and historiography. The years 2001 and 2002 recorded the highest inflation rates, the weakening of the rupiah exchange rate against the US dollar, and the highest annual interest rates. The strategy undertaken to deal with the economic crisis included carrying out Monetary Policy (controlling the money supply and raising SBI interest rates), bank liquidation, forming the National Economic Council, financial restructuring, and increasing investment. These various strategies have had a positive impact on reducing the rate of inflation and increasing the rate of economic growth.

Analisis Pengaruh Rasio Keuangan Early Warning System Tingkat Suku Bunga Sertifikat Bank Indonesia Dan Price To Book Value Terhadap Harga Saham Perusahaan Asuransi Yang Terdaftar Di Bursa Efek Indonesia

The problem in this study is whether the Early Warning System's financial ratios namely fund adequacy ratios, underwritting ratios, claims expense ratios, liquidity ratios, premium growth ratios, retention ratios, SBI interest rates and Price to Book Value simultaneously affect stock prices at insurance company listed on the Indonesia Stock Exchange. This study aims to determine whether there is an influence of fund adequacy ratios, underwritting ratios, claims expense ratios, liquidity ratios, premium growth ratios, retention ratios, SBI interest rates and price to book value to stock prices on insurance companies listed on the Indonesia Stock Exchange. The sample selection was carried out using the purposive sampling method and sources of data in this study are secondary data obtained from the sites www.idx.co.id and www.sahamok.com. Data processing is done by pooling data. The analytical method used is multiple regression analysis with the help of SPSS 22. The results showed simultaneously (Test F) that independent variables significantly influence stock prices. This can be seen from the calculated F value (6.871) F table (2.46) and α 0.000 0.05.

Evaluation of Interest Rate Policies in Creating Financial Stability and Price Stability in Indonesia

This study aims to evaluate the interest rate policy (rediscount policy) by Bank Indonesia to create financial stability and price stability in Indonesia. This research used data on the SBI interest rate, exchange rate of rupiah to US dollar, inflation rate, and money supply in Indonesia from January 2014 to December 2021. The econometric model to test the research hypothesis is the structural equation model - partial least square. The results showed that the interest rate instrument to create financial stability in Indonesia was appropriate because the interest rate had a negative impact on the exchange rate. It means that if desired exchange rate will decrease (the rupiah appreciated) it can be done by increasing the interest rate. However, the policy of raising the interest rate can cause the inflation rate to rise. Because the interest rate has a positive effect on the inflation rate. The money supply can mediate the effect of the interest rate on the inflation rate in Indonesia.

The Effect of Inflation, SBI Interest Rate on Foreign Investment (PMA) and Economic Growth in Indonesia (Year 2010-2019)

The economic crisis experienced by developed countries must be utilized by improving the economic structure in Indonesia to increase economic growth and increase the flow of foreign capital into Indonesia. This study aims to determine the effect of inflation and SBI interest rates on foreign investment and economic growth in Indonesia as an emerging market. The type of research used is explanatory research with a quantitative approach. This study uses 2010–2019 time series data, namely secondary data in the form of data on inflation, interest rates, FDI, and economic growth, which are tested using path analysis techniques. Statistical test results show that the inflation variable has no significant negative effect on FDI; the interest rate has no significant positive effect on FDI; inflation has no significant negative effect on economic growth; the interest rate has no significant positive effect on economic growth; and FDI has a positive and significant effect on economic growth.

Analysis of Dominant Factors And Financial Performance of BPD: Mediated Model of Non-Performing Credit

This study aims to find out and obtain the results of an analysis of the dominant factors both internal and external factors in the Financial Performance of Bank BPD with a non-performing loan mediated model. The method used in this research is descriptive and verification method. The sampling technique used saturated or census sampling to obtain a sample of 26 Regional Development Banks (BPD) from 2014 to 2018. The analytical method used is panel data regression with the pooled least squares approach. The results of the study show that the Capital Adequacy Ratio (CAR), Loan Asset Ratio (LAR), Loan to Deposit Ratio (LDR), SBI Interest Rate, Gross Domestic Product (GDP) have an effect on non-performing loans (NPL) , while Bank Size (Size) and Exchange Rate (Exchange Rate) have no effect. Furthermore, non-performing loans have no effect on financial performance as proxied by Return on Assets (ROA).

TINGKAT INFLASI, SUKU BUNGA SERTIFIKAT BANK INDONESIA DAN PRODUK DOMESTIK BRUTO TERHADAP INDEKS HARGA SAHAM GABUNGAN

The purpose of this research is to obtain empirical evidence of the influence of the inflation rate, interest rates on Bank Indonesia Certificates (SBI) and Gross Domestic Product (GDP). The independent variables used are inflation, SBI interest rates, and Gross Domestic Product (GDP). The dependent variable used is the Composite Stock Price Index (IHSG) policy. In this study, the macroeconomic factors used were the inflation rate, SBI interest rates and GDP. The data taken is the monthly closing price of each dependent and independent variable. The sampling method is 60 months of closing price data. The data used is secondary data with documentation data collection methods. The analytical tool used is multiple linear regression. The partial results of the study show that only GDP has a significant effect on the JCI on the IDX, while the inflation rate and SBI interest rates do not have a significant effect on the IHSG on the IDX. And simultaneously shows that the inflation rate, SBI interest rates and GDP have a significant effect on the IHSG on the IDX. Keywords: JCI, inflation rate, SBI interest rate, GDP. The purpose of this research is to obtain empirical evidence of the influence of the inflation rate, interest rates on Bank Indonesia Certificates (SBI) and Gross Domestic Product (GDP). The independent variables used are inflation, SBI interest rates, and Gross Domestic Product (GDP). The dependent variable used is the Composite Stock Price Index (IHSG) policy. In this study, the macroeconomic factors used were the inflation rate, SBI interest rates and GDP. The data taken is the monthly closing price of each dependent and independent variable. The sampling method is 60 months of closing price data. The data used is secondary data with documentation data collection methods. The analytical tool used is multiple linear regression. The partial results of the study show that only GDP has a significant effect on the JCI on the IDX, while the inflation rate and SBI interest rates do not have a significant effect on the IHSG on the IDX. And simultaneously shows that the inflation rate, SBI interest rates and GDP have a significant effect on the IHSG on the IDX. Keywords: JCI, inflation rate, SBI interest rate, GDP.

PEMODELAN FAKTOR EKONOMI MAKRO TERHADAP HARGA SAHAM TELKOM MENGGUNAKAN REGRESI SPLINE TRUNCATED MULTIVARIABEL DILENGKAPI GUI R

Stock prices are an important thing that investors should know before investing. Volatile stock prices require investors to know the factors that influence their changes. Stock price instability makes it very difficult for investors to make investments and affects the integrity they get. One of the factors that affect stock prices is macroeconomic factors consisting of rupiah exchange rate (X1), inflation (X2), and SBI interest rate (X3). A statistical method that can be used to model fluctuating data is spline nonparametric regression. This study aims to model macroeconomic factors against Telkom's stock price using multivariable truncated spline nonparametric regression with optimal knot point selection methods that minimize Generalized Cross Validation (GCV). Many knots used are a combination of 1 and 2 and the order used is a combination of 2, 3, and 4. The best multivariable truncated spline model is achieved on a knot combination (2,2,2) with the order X1, X2, X3 being 3, 2, 2 which results in an R2 value of 92.71% included in the strong model criteria. In the evaluation of model performance obtained a MAPE value of 1.857% which shows the model has excellent forecasting ability. In this study, a Graphical User Interface (GUI) program was formed R that can facilitate data analysis and produce more attractive display output.

APAKAH SUKU BUNGA SBI DAN INFLASI BERDAMPAK TERHADAP KINERJA REKSA DANA SAHAM DI INDONESIA

The purpose of this study is to analyze the effect of interest rates SBI and Inflation on the performance of Sham Mutual Funds. This research uses Monthly Net Asset Value (NAV) of equity mutual funds registered with the Otoritas Jasa Keuangan (OJK), as well as monthly data on SBI Interest Rates and Inflation obtained from Bank Indonesia monthly report. By using purposive sampling method selected fourteen equity mutual funds that are active and always exist in five years research to analyze as sample. Indicators used in Determining the performance of equity mutual funds is the Sharpe ratio method. Statistical test that used in this research is multiple regression test. Research result shows that the SBI Interest Rate and Inflation have a positive and significant effect on the performance of equity funds.

Faktor Internal dan Eksternal Terhadap Return Saham

During this research, the impact of internal and external variables on stock returns of consumer product companies will be examined. When discussing debt-to-equity ratios, the acronym DER, or return on equity, is commonly used (ROE). Both of these abbreviations may appear in financial statements. The acronyms CR and PER are used to refer to "current ratio" and "cost ratio" respectively. Internal factor analysis weighs heavily on these four measures. Meanwhile, inflation and interest rates on savings and current accounts are being studied as external influences. Panel data analysis and quantitative research approach were used in planning this research. The Indonesia Stock Exchange (IDX) listed 15 manufacturing companies between 2017 and 2020 as samples for this study. This research was conducted at universities in Indonesia. To do research in Indonesia, it was decided to do it. Based on a set of predetermined parameters, this sampling strategy is used. Eviews 10 was used to test this data set. The findings show that internal and external factors affect stock performance. Price and earnings ratio (PER), dividend yield (DER), and income yield (CR) all have a positive relationship, and this has an effect on stock price returns. However, the SBI interest rate and SBI ROE have minimal influence.
 
 Keywords: stock returns, ROE, DER, CR, PER, inflation, SBI interest rate

Determinants of increasing the number of third-party funds in Shariah banking

The study aims to determine factors can influence the number of third-party of sharia banking in Indonesia. The type of research used in this study was quantitative research with a descriptive approach. The population in this research was sharia banking that was registrered at the Financial Service Authority (Bahasa;OJK). The sample was sharia commercial banks and sharia business unts with variable profit sharing, inflation, and interest rate. This research used secondary data, namely sharia banking data published by Financial Service Authority (Bahasa;OJK), Bank Indonesia (BI), and the Indonesian Statistic (Bahasa;BPS) in 2015-2021. The data analyzed using multiple linier regression analysis with SPSS 26 tools. The research results showed that profit-sharing has a positive and significant influenced on third-party funds of sharia banking in Indonesia in 2015-2021. SBI interest rate significantly influenced third-party funds of sharia banking in Indonesia in 2015-2021. Simultaneously, profit sharing, inflation and SBI interest rates significantly influence third-party funds of sharia banks and sharia business units in Indonesia in 2015-2021.

JCI Analysis Through SBI Interest Rate, World Oil Price, World Gold Price, Rupiah Exchange Rate, Nikkei 225 Index, and Dow Jones Index in 2016–2020

The capital market is one of today's economic instruments that experience very rapid development. One measure of the performance of the capital market is the stock index. There are many factors that can affect the Stock Index, including domestic interest rates, foreign exchange rates, international economic conditions, a country's economic cycle, inflation rates, tax regulations, and the amount of money in circulation (Samsul, M., 2008). During the observation period from 2016 to 2019, there was a phenomenon where the relationship between macroeconomic variables and JCI movements did not match the theory. This is supported by the gap in the results of previous studies. The purpose of this study is to analyze the impact of the SBI interest rate, world oil prices, world gold prices, the rupiah exchange rate, the Nikkei 225 Index, and the Dow Jones Index on the JCI. The analytical method used in this study is the multiple regression analysis methods performed with SPSS 16. One of the requirements to perform the multiple analysis test is the classical assumption test. This is necessary so that the resulting regression equation is BLUE (Best, Linear, Unbiased, Estimator). In addition, to assess the goodness of fit of a model, the coefficient of determination test, F-test, and t-test are carried out. This study uses monthly data from 2016 until 2020 for each research variable. The results of this study indicate that the SBI Interest Rate and the Rupiah Exchange rate have a negative effect on the JCI. Meanwhile, the variables of World Oil Price, World Gold Price, Nikkei 225 Index, and Dow Jones Index have a positive effect on the JCI. In addition, it is found that the adjusted square value is 96.1%. It means that 96.1% of the JCI movement can be predicted from the movement of the seven independent variables.

Effect Of Macroeconomic Factors (Exchange, Inflation, Sbi Interest Rate, World Oil Price) On Stock Returns With Profitability As Intervening Variables In Mining Sector Companies In The Indonesia Stock Exchange 2015-2019

The purpose of this study was to determine and analyze the effect of macroeconomic factors (exchange rate, inflation, interest rates for Bank Indonesia Certificates, world oil prices) on stock returns with profitability (return on assets) as an intervening variable in mining sector companies on the Indonesia Stock Exchange in 2015 -2019. The data used in this study is secondary data obtained from monthly and annual data published by Bank Indonesia, the Indonesia Stock Exchange, and the Energy Information Administration (EIA) and processed using Path Analysis with SmartPLS 3.0. The results showed that macroeconomics (exchange rate of Rp/US$, inflation, SBI interest rates, world oil prices) and ROA had a direct significant effect on stock returns in the mining sector on the Indonesia Stock Exchange (IDX). Macroeconomics (Rp/US$ exchange rate, inflation and world oil prices) have an indirect and significant indirect effect on Stock Return of the mining sector on the IDX, while the SBI interest rate has a significant indirect effect on Stock Return of the mining sector on the IDX.

PENGARUH SUKU BUNGA SBI, IMPOR DAN EKSPOR TERHADAP KURS RUPIAH/DOLAR AMERIKA SERIKAT TAHUN 2010-2018

Exchange rate the value of country's currency with value of another country's currency, which used to conduct international trade. Currency exchange rates or exchange rates are one of the most important macroeconomic variables, because movements in the exchange rates will affect economic stability. The research objectives to 1) analyze the effect of SBI interest rates, imports, and exports simultaneously on the rupiah / US dollar exchange rate in 2010-2018. 2) partially analyze the effect of SBI, Import, and Export interest rates on the rupiah / US dollar exchange rate in 2010-2018. 3) determine the variables that have a dominant effect on the SBI, Import, and Export interest rates on the rupiah / US dollar exchange rate in 2010-2018. This study uses secondary data and multiple linear regression analysis. The results are 1) SBI interest rates, imports, and exports simultaneously have significant effect on the exchange rate / exchange rate. 2) SBI, Import, and Export interest rates have positive significant effect on the exchange rate / exchange rate. 3) The variable that has a dominant influence is the export variable.
 Keywords: Rupiah / United States dollar exchange rate, SBI interest rate, Import and Export

PENILAIAN KINERJA RETURN PENGELOLAAN ASSET PERBANKAN (Studi Komparasi Pada Bank Umum Swasta Nasional Devisa dan Bank Asing)

<p><em>T</em><em>his study tried to analyse perfomance evaluation of banking asset management returns based on fundamental and macro factors from BUSND and foreign bank. This research also analyse the different of banking asset management Performance on BUSND and Foreign Bank. Multiple regression analysis method, F significance test, coefficient of determination and t significance test was used in This research. In order to find out the difference in asset return management between BUSND and foreign banks, a Chow-test was carried out.</em></p><em>This study simultaneously found that fundamental factors proxied by the ratio of CAR, NIM, BOPO, LDR, and macro factors using SBI interest rates and exchange rates had a significant effect on ROA both in BUSND and foreign banks. In BUSND the independent variables for fundamental factors that have a significant effect on ROA are CAR, NIM, BOPO, and macro factors, namely the SBI interest rate, for foreign banks the results of the independent variables for fundamental factors that affect ROA are CAR, BOPO, and LDR . For the results of the Chow test, it was found that there was a significant difference between BUSND and foreign banks in terms of managing returns from the placement of bank assets (Return On Assets).</em>

Sentimen Investor, Faktor Fundamental Makroekonomi dan Excess Return Pasar Saham di Indonesia

This study aims to examine the effect of investor sentimen and macroeconomic fundamentals on excess returns which are useful for decision making in optimizing portfolios. This study used the aggregate market with the aim of knowing the entire stock market in Indonesia, and used daily data during 2020 with a total of 242 data according to the number of trading days in 2020. This study used trading volume, advance-decline ratio, market turnover, share turnover for sentiment investor indicators. SBI Interest Rate, SP500 Index, and exchange rate were used as indicators of macroeconomic fundamentals. The sentiment investor proxies are analyzed using Principal Component Analysis (PCA). Through GARCH analysis, it is found that investor sentimen has a positive effect on excess return. Based on the Granger Causal test, the study found that excess return granger cause investor sentiment, but not vice versa. Regarding macroeconomic factors, it can be concluded that macroeconomic variables, namely interest rates, the US SP500 index, and exchange rate have a simultaneous effect on excess return, where the macroeconomic variables explain 22,64% excess return in the Indonesian stock market.

EFFECT OF INFLATION, ER, SBI AND NET INCOME ON INDUSTRIAL AND CHEMICAL SECTOR COMPANIES

IHSG is a stock price index number that has been compiled and calculated by generating a trend, where the index number is a number that is processed in such a way that it can be used to compare events that can be changes in stock prices from time to time. The purpose of this study was to determine whether there is a significant effect between inflation, exchange rates, SBI interest rates, and net income on the composite stock price index. There are 80 company populations during 2017-2019 with a total sample of 34. This type of research uses explanatory research, the research location is carried out on the IDX. Data collection was obtained from BEI, BPS and BI. The data analysis technique used statistical analysis techniques with multiple linear regression analysis methods. Based on the tests that have been carried out, the results show that inflation, interest rates, and net income have no effect on the IHSG, but the exchange rate has a significant effect on the IHSG