Impact of Macroeconomic Conditions on Stock Returns: Empirical Evidence from Indonesia
Keywords:
Exchange, Interest Rates, InflationAbstract
This study aims to "test" the effect of Exchange, Interest Rates, and Inflation on Stock Returns. The approach used in this research is a quantitative approach. The population in this study are manufacturing companies in the food and beverage sector which are listed on the Indonesia Stock Exchange. The sampling technique used was the purposive sampling method. The sample in this study was 54 companies listed on the Indonesian Stock Exchange in 2018 - 2020. The data used in this study is secondary data taken from the Indonesia Stock Exchange. The data analysis used in the initial study was Eviews version 9 with the aim of testing Exchange Rate (X1), Interest Rate (X2), and Inflation (X3) against Stock Return (Y). The results of this study indicate that simultaneously there is a significant effect between exchange rates, interest rates, and inflation on stock returns. While x partially Exchange Rate and Inflation have no negative significant effect on stock returns. While Interest Rates partially have a positive significant effect on Stock Return.
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