The Effect Of Bi Rate And Exchange Rate On LQ-45 Index

John Fran Kennedi

Abstract


The aim of this research is to examine the effect of the BI rate and exchange rate on the stock of LQ-45 index. The analytical method used in this study is multiple regression analysis. Before doing multiple regression analysis, it’s a must to do aclassic assumption test. This is necessary and important that the regression equation is to be BLUE (Best, Linear, Unbiased, Estimator). In addition to assessing the goodness of fit from a model, the researcher uses the coefficient of determination test, F test and t test which this research uses the yearly data from 2006 – 2015 for each variable. Results from this study indicates that the BI Rate rate negatively affects the stock of LQ-45 index with t value -2,849 and a probability value of 0,025. While the variables of Exchange Rate has a positive effect on LQ-45 index with t value of it is 2,475 and a probability value is 0,043. The value of R square is 63,5%. This means that 63,5 % theof LQ-45 index can be predicted from the movement of those two independent variables while the remaining 36,5% is influenced by other variables.

Keywords: BI Rate, Exchange Rate, LQ-45 index


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