Keywords
Inflation
Exchange Rate
Gross Domestic Product
Dow Jones Index
World Oil Prices
How to Cite
Abstract
This research investigates the impact of inflation rate, USD/IDR exchange rate, gross domestic product (GDP), Dow Jones Index, and world oil prices on the Jakarta Composite Index (JCI) of the Indonesian Stock Exchange from 1997 to 2022. Employing multiple linear regression analysis using SPSS version 25, the study analyzes annual time series data spanning 25 years. Findings indicate a significant negative correlation between the USD/IDR exchange rate and world oil prices with the Jakarta Composite Index (JCI). However, the inflation rate, GDP, and Dow Jones Index do not exhibit significant influence on the Jakarta Composite Index (JCI). The study achieves an adjusted R-squared value of 0.674, suggesting that 67.4% of JCI movements are explained by the studied variables, leaving 32.6% attributed to external factors beyond this research scope.
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