SHS Web Conf.
Volume 149, 2022International Conference on Social Science 2022 “Integrating Social Science Innovations on Post Pandemic Through Society 5.0” (ICSS 2022)
|Number of page(s)
|18 November 2022
Determinants of The Indonesia Composite Index Movement in The Covid-19 Pandemic Era
1 Economic Faculty, Universitas Negeri Manado, Indonesia
2 Economic Faculty, Universitas Negeri Manado, Indonesia
3 Economic Faculty, Universitas Negeri Manado, Indonesia
* Corresponding author: firstname.lastname@example.org
The Indonesia Composite Index, or the composite stock price index (IDX Composite), experienced a sharp decline at the beginning of the Covid-19 pandemic, from 6,323 in January to 3,937 in March 2020. If IDX composite continues to plummet in the long term, the worst impact will hit the performance of issuers or public companies. This study aims to analyze the factors that influence the IDX Composite in the era of the Covid-19 pandemic. This research is a quantitative study using ARCH-GARCH analysis techniques and data testing using the EViews program. The population used in this study was IDX Composite, and the sample was IDX Composite from January to December 2020. The results showed that the rupiah exchange rate partially had a significant negative effect on the IDX Composite. Meanwhile, Bank Indonesia's interest rate has a significant and positive effect on the IDX Composite in the era of the Covid-19 pandemic. Meanwhile, Inflation did not significantly affect the IDX Composite in the era of the Covid-19 pandemic.
Key words: IDX composite / inflation / interest rate / rupiah exchange rate / Covid-19 pandemic
© The Authors, published by EDP Sciences, 2022
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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