VARIABEL MAKROEKONOMI YANG MEMPENGARUHI INDEKS HARGA SAHAM INDONESIA, THAILAND, MALAYSIA, DAN VIETNAM

Authors

  • Benny Budiawan Tjandrasa Universitas Kristen Maranatha
  • Agus Aribowo Universitas Kristen Maranatha
  • Rofinus Jewarut Universitas Kristen Maranatha

DOI:

https://doi.org/10.32524/jkb.v19i1.107

Keywords:

Exchange rate, volatility index, government bond yield, stock market index, South East Asia

Abstract

One of the indicators of a country's economic growth is the stock price index in the country. The purpose of this study is to determine what factors are most influential and how significant the influences on the stock price indexes in Indonesia, Malaysia, Thailand, and Vietnam. The data panel was formed based on secondary data from January 2012 to December 2019 in Indonesia, Thailand, Malaysia, and Vietnam with 384 samples. The dependent variable of this study is the stock market index, while the independent variables are the foreign exchange rate, volatility index, and government bond yield. The equation for the direction test in this study used a multivariate regression model. The results show that the foreign exchange rate, volatility index, and government bond yield together have a significant effect on the stock market index. Partially, the foreign exchange rate has a positive and significant effect on the stock market index, while the volatility index and the government bond yield have a negative and significant effect on the stock market index.

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Published

2021-03-12

How to Cite

Tjandrasa, B. B., Aribowo, A., & Jewarut, R. (2021). VARIABEL MAKROEKONOMI YANG MEMPENGARUHI INDEKS HARGA SAHAM INDONESIA, THAILAND, MALAYSIA, DAN VIETNAM. Jurnal Keuangan Dan Bisnis, 19(1), 52–61. https://doi.org/10.32524/jkb.v19i1.107

Issue

Vol. 19 No. 1 (2021): Jurnal Keuangan dan Bisnis Volume 19 No. 1, Edisi Maret 2021

Section

Research Articles