Analisis dampak fundamental makro ekonomi terhadap return saham dengan suku bunga sebagai variabel moderating
DOI:
https://doi.org/10.30872/jkin.v19i2.11179Keywords:
Makro ekonomi, return sahamAbstract
Tujuan dari penelitian ini adalah untuk mengetahui pengaruh faktor makroekonomi terhadap return saham bank-bank BUMN yang terdaftar di Bursa Efek Indonesia periode 2019 - 2020. Dampak pandemi Covid-19 yang mempengaruhi perekonomian disinyalir mempengaruhi pasar modal dan return saham perusahaan. Teknik pengambilan sampel ini menggunakan purposive sampling. Metode penelitian menggunakan PLS (Partial Least Square). Dengan teknik analisis berupa Uji Fit Model, Uji Hipotesis dan efek moderasi untuk mengetahui pengaruh variabel moderasi terhadap interaksi antara faktor makroekonomi dan return saham. Hasil penelitian menyatakan return saham dipengaruhi signifikan oleh inflasi dengan efek positif, return saham dipengaruhi signifikan oleh nilai tukar dengan efek negatif, return saham tidak dipengaruhi oleh jumlah uang beredar dan interaksi antara variabel makro ekonomi dengan variabel return saham tidak dapat di moderasi oleh suku bunga.
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