THE INFLUENCE OF JAKARTA COMPOSITE INDEX, INFLATION RATE, BI RATE, AND EXCHANGE RATE TOWARDS EQUITY-BASED UNITLINK RETURN OF PT. CYZ

Abstract

Along with the increasing number of investors, there is a new investment instrument which called as Unitlink that introduced by life insurance companies in Indonesia that shows promising growth year by year; this research has objective to observe factors that influences equity based unitlink product. This study concerns to observe the influence of macroeconomics factors such as inflation rate; exchange rate; bank Indonesia rate and Jakarta Composite Index Price towards equity based unitlink product of PT. XYZ during January 2010 to November 2016. This study uses quantitative method with secondary data from Bank Indonesia (BI), Badan Pusat Statistik (BPS) and PT. XYZ website. To process the raw data into statistical result, researcher uses Econometric Views or Eviews 8.1 version.This study uses multiple regressions analysis to observe the influence between Independent Variables to the dependent variable. The observed result describe a partially significant influence of Jakarta Composite Index Price toward equity based unitlink product return but Insignificant partially influence of Inflation Rate, Bank Indonesia Rate and Exchange Rate toward equity based unitlink return. This study concludes that Jakarta Composote Index Price is the only variable in this research that give significant influence towards equity based unitlink product return while Inflation Rate; BI rate; and Exchange Rate have no significant influence towards banks’ equity based unitlink product return.