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.
