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.