Augusta, Vira Rizky and Dr. Ari Darmawan, S.AB., M.AB (2020) Pengaruh Risiko Makroekonomi Terhadap Return Saham (Studi pada Perusahaan Sektor Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2011-2019). Sarjana thesis, Universitas Brawijaya.
Abstract
Return saham merupakan keuntungan baik yang diterima maupun diinginkan investor terhadap setiap dana yang diinvestasikannya. Penting bagi investor maupun perusahaan dalam memahami risiko yang akan terjadi dalam setiap keputusan investasi. Risiko dapat menyebabkan return saham yang didapatkan tidak sesuai dengan yang diinginkan. Risiko dapat berupa mikro maupun makroekonomi. Penelitian ini membahas risiko makroekonomi karena berpengaruh langsung dan menyeluruh terhadap aspek ekonomi. Risiko makroekonomi tersebut antara lain risiko pasar, risiko inflasi, risiko suku bunga, dan risiko valuta asing. Tujuan penelitian ini adalah: (1) Menganalisis pengaruh risiko pasar terhadap return saham, (2) Menganalisis pengaruh risiko inflasi terhadap return saham, (3) Menganalisis pengaruh risiko suku bunga terhadap return saham, (4) Menganalisis pengaruh risiko valuta asing terhadap return saham, dan (5) Menganalisis pengaruh risiko pasar, risiko inflasi, risiko suku bunga, dan risiko valuta asing secara simultan terhadap return saham. Hasil penelitian menunjukkan bahwa: (1) Risiko pasar berpengaruh negatif signifikan terhadap return saham, (2) Risiko inflasi tidak berpengaruh terhadap return saham, (3) Risiko suku bunga tidak berpengaruh terhadap return saham, (4) Risiko valuta asing berpengaruh negatif signifikan terhadap return saham, (5) Risiko pasar, risiko inflasi, risiko suku bunga, dan risiko valuta asing secara simultan berpengaruh signifikan terhadap return saham. Kesimpulan yang diperoleh dalam penelitian ini adalah risiko makroekonomi yang meliputi risiko pasar dan risiko valuta asing memiliki pengaruh yang negatif signifikan terhadap return saham. Apabila nilai pasar dan valuta asing meningkat, maka akan menyebabkan penurunan return saham, sebaliknya apabila nilai pasar dan valuta asing menurun, maka return saham akan meningkat. Risiko pasar, risiko inflasi, risiko suku bunga, dan risiko valuta asing secara bersama-sama mempengaruhi return saham dengan rendah. Namun penting bagi investor maupun perusahaan untuk memperhitungkan segala jenis risiko karena tetap akan mempengaruhi keuntungan yang diharapkan.
English Abstract
Stock returns are profits both received and desired by investors for each fund invested. It is important for investors and companies to understand the risks that will occur in every investment decision. Risks can cause stock returns that are not in accordance with what is desired. Risks can be either micro or macroeconomic. This study discusses macroeconomic risk because it has a direct and overall effect on economic aspects. Macroeconomic risks include market risk, inflation risk, interest rate risk, and foreign exchange risk. The objectives of this study are: (1) Analyzing the effect of market risk on stock returns, (2) Analyzing the effect of inflation risk on stock returns, (3) Analyzing the effect of interest rate risk on stock returns, (4) Analyzing the effect of foreign exchange risk on stock returns , and (5) Analyzing the effect of market risk, inflation risk, interest rate risk, and foreign exchange risk simultaneously on stock returns. The results showed that: (1) market risk had a significant negative effect on stock returns, (2) inflation risk had no effect on stock returns, (3) interest rate risk had no effect on stock returns, (4) foreign exchange risk had a significant negative effect on stock returns stock returns, (5) Market risk, inflation risk, interest rate risk, and foreign exchange risk simultaneously have a significant effect on stock returns. The conclusion obtained in this study is macroeconomic risk which includes market risk and foreign exchange risk has a significant negative effect on stock returns. If the market value and foreign exchange increase, it will cause a decrease in stock returns, conversely if the market value and foreign exchange decrease, stock returns will increase. Market risk, inflation risk, interest rate risk, and foreign exchange risk together affect stock returns with low. But it is important for investors and companies to take into account all types of risk because it will still affect the expected profit
| Item Type: | Thesis (Sarjana) |
|---|---|
| Identification Number: | 0520030223 |
| Uncontrolled Keywords: | ISIKO MAKROEKONOMI, RISIKO PASAR, RISIKO INFLASI, RISIKO SUKU BUNGA, RISIKO VALUTA ASING, RETURN SAHAM, MACROECONOMIC RISK, MARKET RISK, INFLATION RISK, INTEREST RATE RISK, FOREIGN EXCHANGE RISK, STOCK RETURNS. |
| Subjects: | 600 Technology (Applied sciences) > 658 General management |
| Divisions: | Fakultas Ilmu Administrasi > Ilmu Administrasi Bisnis / Niaga |
| Depositing User: | Zainul Mustofa |
| Date Deposited: | 31 Aug 2022 03:27 |
| Last Modified: | 31 Aug 2022 03:27 |
| URI: | http://repository.ub.ac.id/id/eprint/193839 |
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Text (DALAM MASA EMBARGO)
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