The Effect of Macroeconomic Variables and United States Economic Crisis on LQ 45 Index in Indonesia Stock Exchange

Abstract

This study aims to determine the effect of macroeconomic variables (inflation, economic growth, interest rates, exchange rates) and United States economic crisis both simultaneously and partially to the LQ 45 Index on the Indonesia Stock Exchange. The sample in this study uses the LQ 45 Stock Price Index data in the period 2007 to 2018 with monthly data. The type of data used in this study is secondary data. Data analysis in this study uses multiple linear regression analysis.The results of this study indicate that simultaneously macroeconomic variables (inflation, economic growth, interest rates, exchange rates) and the United States economic crisis significantly influence the LQ 45 Index. Partially the results of this study indicate that inflation does not significantly influence the LQ 45 Index. Economic growth has a positive and significant effect on the LQ 45 Index. Interest rates negatively and significantly affect the LQ 45 Index. The exchange rate has a positive and significant effect on the LQ 45 Index. The United States economic crisis has a negative and significant influence on the LQ 45 Index.