PENGARUH PERUBAHAN INDIKATOR EKONOMI TERHADAP HARGA SAHAM PERBANKAN DI INDONESIA MELALUI PERUBAHAN NILAI BUKU SAHAM (STUDI PADA PERUSAHAAN SUB SEKTOR PERBANKAN TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2006-2017)

Abstract

This research aims to know empirically the influence of economic indicators on the stock price of banks in Indonesia through changes in book value of shares. The stock price as the dependent variable is proxied by the closing price. Economic indicators as an independent variable are proxied by inflation, BI rate, exchange rate (IDR / USD), economic growth (GDP), and money supply. While the stock book value proxies to PBV ratio is used as intervening variable. Sample of this research is banking company in period 2006 - 2017 by using purposive sampling method. The data used are secondary data obtained from the company's annual report and the company's website from period 2006 - 2017. There are 16 companies that selected with criteria. The analysis method that used in this study is multiple regression analysis. The result of this research is that the variable of GDP growth, money supply, and PBV influential to stock price. While the inflation variable, BI rate, and exchange rate (IDR / USD) have no significant effect on stock prices. As well as the growth variable of GDP, and the money supply has a greater direct effect on stock prices. While the inflation variable, BI rate, and exchange rate vice versa.