ANALYSIS THE INFLUENCED BETWEEN VALUE OF STOCK TRADING, USD EXCHANGE RATE, AND BANK INDONESIA CERTIFICATE RATE ON INDONESIA COMPOSITE INDEX IN INDONESIA STOCK EXCHANGE

Abstract

This research aims to analyze influence between value of stock trading, USD exchange rate and Bank Indonesia Certificate rate on Indonesia Composite Index in The Indonesia Stock Exchanges (IDX). The research sample of this study are value of stock trading, USD exchange rate, Bank Indonesia Certificate rate and Indonesia Composite Index, with data pooling method (daily data of year 2011). Results of research that by partial shows value of stock trading does not effect to Indonesia Composite Index, while the USD exchange rate and Bank Indonesia Certificate rate have an effect to Indonesia Composite Index. Based on the value of F, it can be concluded that the three independent variables namely value of stock trading, USD exchange rate and Bank Indonesia Certificate rate jointly affect the accepted the Indonesia Composite Index in The Indonesia Stock Exchanges (IDX) is accepted. This research only covers three selected macroeconomic variables. Therefore, further research should examine other potential macroeconomic variables. From the research, the recommended suggestions are: the investor can consider USD exchange rate and Bank Indonesia Certificate rate the valuable information in the investment because its proven that USD exchange rate and Bank Indonesia Certificate rate give significant influence to Indonesia Composite Index increment.