THE EFFECT OF EXCHANGE RATE, INFLATION AND INTEREST RATE ON STOCK PRICES IN THE COVID-19 PANDEMIC (Studi on Manufacturing Companies Listed on the Indonesia Stock Exchange)

Abstrak

Objective: This study amis to determine how the effect of exchange rates, inflaton, and interest rates on stock prces during the Covid-19 pandemi. Based on data that has been statistcally tested, the exchange rate with a significance value of 0.057 which is greater (>) than 0.005, the inflation varable has a significance value of 0.417. The interest rate varable has a significance value of 0.000 which is smaller than 0.005. Research Methods: Data analysis in this study used mulitple linear regresson analysis methods, namely smultaneous test and partial test. And using classcal assumptons, namely normaltiy test, autocorrelation test, multcollinearty test, and heteroscedastcty test. Results: Based on the results of the partial test statistics in this study, the dependent variable X1 (Exchange Rate), X2 (inflaton) has no effect on the independent variable (Y) (stock prces), while the dependent vairable X3 (interest rates) has an effect on stock prices. Simultaneous test in this study the idependent variable affects the independent varable with a significance value of 0.000. The results of the regresson test also state that the R-square has a significance value of 0.960, which means that the variable x exchange rate, inflaton and interest rates affect the variable y the stock prce with a magnitude of 96%. The results of the normalty test in tihs study are the exchange rate with a significance value of 0.200, inflaton has a significance value of 0.082, interest rates have a significance value of 0.061, and stock prices have a significance value of 0.524. Limitatons: This study only examnes the effect of exchange rates, inflaton and interest rates on stock prices during the Covid-19 pandemi. The research time is also limited to only 21 days, it is hoped for further researchers that more variables will be studed because the phenomenon of Covid-19 is very large. And the time may also be longer because Covid-19 has not recovered for almost 2 years.   Keywords         : share prices, exchange rates, inflaton, interest rates, and Covid-19.