PENGARUH FAKTOR INTERNAL DAN FAKTOR EKSTERNAL TERHADAP HARGA SAHAM PERUSAHAAN PADA INDEKS LQ45

Abstract

The purpose of this study was to understand the influence of internal factors namely the exchange rate, inflation and external factors namely world oil prices, world gold price and the Dow Jones Industrial Average (DJIA) on stock price. This study is classified as quantitative research and conclusive under causality which using purposive sampling as method, thus 41 companies have been acquired that meet the criteria. The objects of this study were the companies listed at LQ45 index in the period April 2015 to February 2016. The data used is secondary data that obtained from the official website of Badan Pusat Statistik, Bank Indonesia, Yahoo Finance, The U.S Energy Information Administration and London Bullion Market Association. The analysis method used in this study is multiple linear regression analysis and analyzed using IBM SPSS software version 17. The result of this study indicated that variable exchange rate, inflation, world oil prices, world gold price and the DJIA simultaneously affect the stock price companies. Partially the exchange rates, inflation, world gold price and DJIA have positively affect the stock price, meanwhile the world oil price affect the stock price negatively, but only world oil price and DJIA are consistent with the hypothesis.                                                                      

Keywords: stock price, exchange rates, inflation, oil price, gold price.