Analysis of the Influence of World Oil Prices, World Gold Prices, Dow Jones Industrial Average Index, and Rupiah Exchange Rate on the Composite Stock Price Index on the Indonesia Stock Exchange

Dhiya Salsabila Putri; Riko Setya Wijaya

doi:10.55927/fjmr.v4i10.562

Authors

Dhiya Salsabila Putri Universitas Pembangunan Nasional “Veteran” Jawa Timur
Riko Setya Wijaya Universitas Pembangunan Nasional “Veteran” Jawa Timur

DOI:

https://doi.org/10.55927/fjmr.v4i10.562

Keywords:

World Oil Price, World Gold Price, Dow Jones Industrial Average, Rupiah Exchange Rate, Composite Stock Price Index

Abstract

This study is intended to test and demonstrate the influence of world oil prices, world gold prices, the Dow Jones Industrial Average (DJIA) index, and the exchange rate on the Composite Stock Price Index (IHSG) on the Indonesia Stock Exchange. The data were collected over a 10-year period, resulting in a sample of 41 quarters, each consisting of monthly closing prices of world oil, world gold, the DJIA index, the Rupiah exchange rate, and the IHSG, taken from the period 2015–2025. The data were processed using multiple linear regression analysis with EViews as the statistical analysis tool. The results of the study indicate that world oil prices, world gold prices, the DJIA index, and the Rupiah exchange rate simultaneously have a significant effect on the IHSG as the dependent variable during the 2015–2025 period.

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