Dampak Makroekonomi Terhadap Indeks Harga Saham Sektor Properti di Indonesia Periode Tahun 1994-2012

Investment activity in the stock market is one of the economic activities of interest to the community. In the capital market assumed that the investor or the investor is rational, so that became the major basic valuation of the fundamental aspects of assessment. Fundamental approach is done by identifying the underlying factors that may affect the companys share price, both internal and external. This study aimed to determine the extent of the effect of inflation, the SBI (Indonesia Bank Certificate) rate, exchange rate against the U.S. dollar, and the growth of GDP (Gross Domestic Product) of the Index property for the period 2000-2012 and JCI for the period 1994-1999, either simultaneously or partially, in addition, this study also aimed to determine which variables most influence on stock price index.
Data collection methods is received from Indonesian Financial Statistics and data price index stocks listed on the Indonesia Stock Exchange, while data analysis method used by multiple linear regression analysis. The survey results revealed that factors SBI rates and the exchange rate against the U.S. dollar significantly influence the stock price index, and inflation and GDP growth had no significant effect.