Faktor-Faktor Yang Mempengaruhi Pergerakan Indeks Harga Saham Sektoral Pertanian di Bursa Efek Indonesia Periode 2014-2018
Abstrak
Indeks Harga Saham Gabungan (IHSG) adalah salah satu indikator perkembangan investasi saham di Indonesia, di mana ada indeks sektor yang mewakili perusahaan publik, salah satu indeks sektoral adalah Indeks Harga Saham Sektoral (IHSS) Pertanian. Fenomena yang terjadi pada periode 2014-2018 adalah tingkat pengembalian investasi di IHSS Pertanian menjadi yang terburuk dibandingkan dengan IHSG dan sektor lainnya sebesar -33,47%. Tujuan dari penelitian ini adalah untuk mengidentifikasi faktor-faktor yang mempengaruhi pergerakan IHSS Pertanian periode 2014 hingga 2018 secara bulanan. Analisis yang digunakan adalah analisis Ordinary Least Square (OLS) untuk mengidentifikasi faktor-faktor yang mempengaruhi pergerakan IHSS Pertanian. Hasil penelitian menunjukkan bahwa inflasi, nilai tukar USD/IDR, suku bunga bank sentral, IHSG, harga minyak kelapa sawit, dan harga emas berpengaruh signifikan terhadap pergerakan IHSS Pertanian dengan nilai pengaruh 88,6%.
Kata Kunci: Indeks Harga Saham Sektoral Pertanian, Return Saham, Makroekonomi, Ordinary Least Square (OLS)
Abstract
Jakarta Composite Index (IHSG) is an indicator of the development of stock investment in Indonesia, where there are indices of sectors that represent public companies, one of the sectoral indices is the Sectoral Stock Price Index (IHSS) of Agriculture. The phenomenon that occurred in the 2014-2018 period was the level of investment return in the IHSS of Agriculture being the worst compared to the IHSG and other sectors by -33.47%. The purpose of this study is to identify the factors that influence the movement of IHSS of Agriculture for the period of 2014 up to 2018 on monthly base. The analysis used is Ordinary Least Square (OLS) analysis to identify the factors that influence the movement of IHSS of Agriculture. The results showed that inflation, USD/IDR exchange rate, central bank interest rate, IHSG, palm oil prices, and gold prices significantly influence the movement of IHSS of Agriculture with an influence value of 88.6%.
Keywords: Agricultural Sectoral Stock Price Index, Stock Return, Macroeconomics, Ordinary Least Square (OLS).
Teks Lengkap:
15-24Referensi
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DOI: https://doi.org/10.24198/agricore.v5i1.28739
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