The Influence of Inflation And Economic Growth (GDP) On The Stock Prices of Manufacturing Companies in The Jakarta Islamic Index (JII)
DOI:
https://doi.org/10.29240/alfalah.v10i01.12645Keywords:
Inflation, Economic growth, Stock price, Jakarta Islamic IndexAbstract
Purpose: This study was conducted to analyze the impact of inflation, economic growth, and previous stock prices on the stock prices of manufacturing companies listed in the Jakarta Islamic Index (JII). The urgency of this research lies in the importance of understanding macroeconomic factors that influence the Islamic capital market, particularly in the context of stock price volatility.
Design/Method/Approach: The research method used is a quantitative approach with multiple linear regression analysis. Secondary data were obtained from the Indonesia Stock Exchange (IDX), the Central Bureau of Statistics (BPS), and other online sources, covering the research period from 2021 to 2023. Data analysis was conducted using the E-Views 10 software.
Findings: The research results indicate that inflation does not have a significant partial effect on the stock prices of manufacturing companies in the JII, while economic growth and previous period stock prices have a positive and significant effect. Simultaneously, inflation, economic growth, and previous period stock prices influence stock prices in the JII.Originality/Values: These findings highlight that investors need to consider various economic factors when making investment decisions.
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