THE INFLUENCE OF ECONOMIC GROWTH, INFLATION AND INTERST RATES ON BANKING SECTOR STOCK PRICES IN THE SANTA CLAUS RALLY PHENOMENON

Abstract

This study aims to examine the factors influencing the rise in stock prices on the Indonesian Stock Exchange (IDX) between 2012 and 2021, specifically focusing on the Santa Claus rally phenomenon that occurs every December. The research method employed is multiple regression analysis, with independent factors including interest rates, inflation, and economic growth. Data was collected from banks with listings on the IDX, using monthly data from December 2012 to December 2021. The study utilized 150 individuals make up the sample size. The analysis's findings show that interest rates, inflation, and economic growth have no bearing on stock values. These findings contribute to investors and companies in making investment and financial policy decisions.