Analysis of the influence of the money supply and the rupiah exchange rate on stock returns of state-owned banks in the 2008-2010 period
##plugins.themes.bootstrap3.article.sidebar##
##plugins.themes.bootstrap3.article.main##
Abstract
Stock is one of the most popular capital market instruments among investors. Investors need information that can help them to make investment decisions, this information is collected in order to find out how much return they will receive as well as to prevent risks that may arise in the future. One of the information that investors need is the macroeconomic factors which could affect the stock price such as money supply, inflation, and the rupiah exchange rate. The objective of this study is to see the influence of macroeconomic variables (money supply and rupiah exchange rate) toward the stock returns of two state commercial banks, that is, Bank Mandiri and Bank Rakyat Indonesia, during the period of 2008-2010. This research uses multiple regression analysis models, t-tests.
##plugins.themes.bootstrap3.article.details##
Arikunto, S. 2002. Research Procedures: A Revised Edition Practice Approach. Rineka Cipta, Jakarta.
Body, Z; Kane, A; Marcus, AJ. 2007. Investments (7th Ed). McGraw-Hill, New York.
Brooks, C. 2002. Introductory Econometrics for Finance. Cambridge University Press, Cambridge.
Darmadji; Fakhrudin. 2001. Capital Markets: Question and Answer Approach (First edition). Salemba Empat, Jakarta.
Dewi, MG 2008. Analysis of the Influence of the Rupiah Exchange Rate, Inflation, and Interest Rates on Stock Returns (Case Study at PT. Indofood Sukses Makmur Tbk). Faculty of Economics Thesis. Atma Jaya Catholic University, Jakarta.
Elton, EJ. et al. 2007. Modern Portfolio Theory and Investment Analysis (6th edition). John Wiley and Sons, Hoboken.
Ghozali, I. 2001. Application of Multivariate Analysis with the SPSS Program. Diponegoro University Publishing Agency, Semarang. Indonesia Banking School, 2010. Thesis Preparation Guidelines and Techniques (Second Edition). Jakarta
Madura, J. 2006. International Corporate Finance (8th Edition). Thompson, Mason.
Mankiw, N.G. 2003. Macroeconomic Theory (Fifth Edition). Erlangga, translator for Imam Nurmawan, Jakarta.
Muchtar, M.A. 2005. Analysis of the Influence of SBI, Money Supply, Inflation and Rupiah Exchange Rate on the Performance of Equity Mutual Funds in Indonesia Period 1999.07-2004.11. Faculty of Economics Thesis. Padjadjaran University, Bandung.
Nazir, M. 2005. Analysis of the Influence of SBI, Exchange Rates, Inflation, and JCI on Stock Returns on the BEJ. Graduate Program Thesis. University of Indonesia, Depok.
Priyatno, D. 2008. Independent Learning SPSS for Data Analysis and Statistical Testing. Mediacom, Yogyakarta
Sekaran, U. 2006. Research Methods for Business, A Skill Building Approach (2nd Edition). John Wiley and Sons, New York.
Shapiro, A. 2003. Multinational Financial Management (5th Edition). Prentice-Hall International, Inc.; America.
Siamat, D. 2004. Introduction to Financial Institution Management (Third Edition). Intermedia, Jakarta.
Yulianti, D. 2009. Analysis of the Influence of Interest Rates, Inflation, and the Rupiah Exchange Rate on the Rate of Return of Shares in the Consumer Goods Industry Sector and the Property and Real Estate Sector. Faculty of Economics Thesis. University of Indonesia, Depok.
Widarjono, A. 2007. Econometrics: Theory and Applications for Economics and Business (second edition). Econisia, Yogyakarta.
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.