ABSTRAK
Indeks Harga Saham Sektoral Properti, Real Estate & Building Construction merupakan indeks yang paling berkembang dari sembilan indeks sektoral lainnya. Atas dasar hal itu, penulis ingin mengetahui pengaruh variabel makroekonomi terhadap Indeks Harga Saham Sektoral Properti, Real Estate & Building Construction. Variabel makroekonomi tersebut adalah laju pertumbuhan PDB, BI Rate, inflasi dan kurs.
Jenis penelitian ini adalah penelitian survey. Populasi penelitian ini adalah Indeks Harga Saham Sektoral Properti, Real Estate & Building Constructiondalam bentuk data triwulanan pada tahun 2005 – 2014. Instrumen penelitian yang digunakan adalah checklist. Metode pengumpulan data yang digunakan yaitu dokumentasi. Alat analisis yang digunakan adalah Vector Error Correction Model (VECM).
Hasil analisis data variabel laju pertumbuhan PDB dan kurs berpengaruh secara signifikan dan positif, variabel inflasi berpengaruh secara signifikan dan negatif sedangkan variabel BI Rate berpengaruh secara negatif namun tidak signifikan terhadap Indeks Harga Saham Sektoral Properti, Real Estate & Building Construction. Diharapkan pemerintah dapat mengambil kebijakan secara tepat dan cepat terkait variabel makroekonomi ini karena variabel tersebut sangat vital pengaruhnya terhadap iklim investasi dan pertumbuhan ekonomi Indonesia.
Kata – kata kunci : Variabel Makroekonomi, Indeks Harga Saham Sektoral Properti, Real Estate & Building Construction, VECM.
ABSTRACT
Stock Price Index Sector Property, Real Estate & Building Construction is the most developed index of the other nine sectors. Therefore, the authors wanted to determine the influence of macroeconomic variables toward Stock Price Index Sector Property, Real Estate & Building Construction. The macroeconomic variables are the GDP growth, BI Rate, inflation and exchange rate.
This is a survey research. The research population is the Stock Price Index Sector Property, Real Estate & Building Construction quarterly during period 2005 – 2014. The research instrument used was a checklist. Data collection methods used was documentation. The analysis tool used is the Vector Error Correction Model (VECM).
The results of the data analysis shows that GDP growth and exchange rate has significant and positive influence, inflation has significant and negative influence, while BI Rate not has significant and negative influence toward Stock Price Index Sector Property, Real Estate & Building Construction. The government is expected to be able to take a proper and quick policy toward these macroeconomic variables because these variables have a very vital influence on the investment climate and economic growth in Indonesia.
Key words: Macroeconomic variables, Stock Price Index Sector Property, Real Estate &