The Influence of Inflation, Exchange Rate, and BI 7-Day Reverse Repo Rate on Stock Price Growth in Consumer Sector Companies Listed on the Indonesia Stock Exchange with Return on Equity as a Moderating Variable
DOI:
https://doi.org/10.55927/ijbae.v5i3.40Keywords:
Inflasi, Kurs USD/IDR, BI 7-Day Reverse Repo Rate, Return on Equity, Stock Price Growth.Abstract
This research investigates the influence of inflation, the USD/IDR exchange rate, and the BI 7-day reverse repo rate on stock price growth in consumer-sector businesses listed on the Indonesia Stock Exchange between 2020 and 2024. Return on Equity (ROE) serves as a moderating variable. The study employed a quantitative associative approach and used a sample of 142 firms. The regression equation Y = 2.115 – 7.117X₁ + 0.000X₂ - 5.502X₃ + 4.402Z – 15.262X₁Z + 0.000X₂Z – 5.987X₃Z + e is employed in the Moderated Regression Analysis (MRA) analysis technique. The simultaneous test outcomes show that Inflation, USD/IDR Exchange Rate, BI 7-Day Reverse Repo Rate, ROE, and the interaction moderation variables significantly affect Stock Price Growth. Partially, Inflation, USD/IDR Exchange Rate, and BI 7-Day Reverse Repo Rate negatively and significantly affect Stock Price Growth, while ROE positively and significantly affects Stock Price Growth. Furthermore, ROE has the ability to reduce the effect of inflation and the USD/IDR exchange rate on stock price increase, but it cannot significantly reduce the impact of BI 7-day reverse repo rate.
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