Pengaruh Tingkat Suku Bunga terhadap Bubble Finance di Bursa Efek Indonesia Periode 1998–2017

Ani Pinayani, Disman Disman, Nugraha Nugraha, Eeng Ahman

Abstract


This study aims to analyze the effect of interest rates on buble finance on the Indonesia Stock Exchange. The research method used was an explanatory survey method. The study population was issuers on the Indonesia Stock Exchange, a sample of 246 listed companies whose data was complete with 3764 observation units from 1998 - 2017. The type of data used was secondary data. The data analysis technique used panel data regression using eviews version 11. The results of the study showed that the bubble finance in Indonesia on shares on the Indonesia Stock Exchange in the period 1998-2017 was influenced by interest rates. This finding has the implication that efforts to control the bubble finance  of company shares, can control interest rate policies through monetary policy and fiscal policy. Strategies for using tight monetary policy, controlling and controlling foreign exchange, and controlling low interest rates.

Abstrak. Kajian ini bertujuan untuk menganalisis pengaruh tingkat suku bunga terhadap buble finance di Bursa Efek Indonesia.  Metode penelitian yang digunakan adalah metode survey explanatory.  Populasi penelitian adalah emiten di Bursa Efek Indonesia, sampel dipilih sebanyak 246 emiten yang datanya lengkap dengan 3764 unit observasi dari  tahun 1998 - 2017.  Jenis data yang digunakan adalah data sekunder. Teknik analisis data menggunakan regresi data panel dengan menggunakan eviews versi 11. Hasil kajian menunjukkan bahwa bubble finance di Indonesia pada saham di Bursa Efek Indonesia pada periode 1998-2017 dipengaruhi oleh tingkat suku bunga. Temuan ini memberikan implikasi bahwa  upaya mengendalikan bubble keuangan (bubble finance)  saham perusahaan, dapat dilakukan kebijakan pengendalian suku bunga melalui kebijakan moneter maupun kebijakan fiskal.  Strategi penggunaan kebijakan moneter yang ketat, pengendalian dan kontrol  devisa, dan pengendalian tingkat bunga yang rendah.


Keywords


Bubble Keuangan; Suku Bunga

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DOI: https://doi.org/10.17509/jrak.v8i2.22642

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