Open AccessINFLATION AND INTEREST RATE WITH EXCHANGE AS INTERVENING VARIABLES : ON STOCK RETURN
Author(s) -
Novriyani Novriyani
Publication year - 2021
Publication title -
jurnal manajemen dan bisnis/jurnal manajemen and bisnis
Language(s) - English
Resource type - Journals
eISSN - 2621-4199
pISSN - 2302-4313
DOI - 10.34006/jmbi.v10i2.350
Subject(s) - stock exchange , exchange rate , stock (firearms) , interest rate , economics , econometrics , monetary economics , inflation (cosmology) , population , medicine , finance , geography , physics , environmental health , archaeology , theoretical physics
This research aims to find out Interest Rates and Inflation With Exchange Rates As Intervening Variables: Stock Returns. This type of research uses secondary data. The population of manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2014-2020. Sampling techniques used purposive sampling. The research population is a company registered with PT. IDX and sample of 8 companies. The data analysis method used is Path Analysis with SPSS. The results explained that inflation has a positive and insignificant effect on stock returns. Interest rates have a positive and insignificant effect on stock returns. Inflation has a positive and significant effect on the exchange rate. Interest rates have a positive and significant effect on the exchange rate. Inflation and return of stocks through exchange rates have a positive and significant effect on the exchange rate. Interest rates and stock returns through exchange rates have a negative and significant effect on the exchange rate. exchange rates have a positive and significant effect on stock returns.
Keywords : Inflation, Interest Rate, Stock Return and Exchange Rate