The Influence Of Monetary Policy, Macroeconomic Variables, Global Markets, And Internal Company Factors On Stock Returns Of Lq45 Companies On The Indonesian Stock Exchange

This study aims to identify the influence of monetary policy, macroeconomic variables, global markets and internal factors on stock returns in LQ45 companies on the Indonesia Stock Exchange in the period 2020Q1 to 2024Q3. The results of the estimation using the GMM (Generalized Method of Moment) panel show that BIR has a significant positive and negative influence on stock returns. Meanwhile, INF and EXR have a negative and significant influence on stock returns. However, DJ has a negative and insignificant influence on stock returns. while DER has a positive and significant influence on stock returns. Meanwhile, SIZE, ROA and ROE have a positive and insignificant influence on the return of LQ45 company shares on the Indonesia Stock Exchange. According to the results of the analysis in this study, monetary policy, macroeconomic variables, global markets and internal factors of the company are the most important components that can affect the level of stock return. In this study, the company's management needs to pay attention to aspects that directly affect the company's stock return and for potential investors to consider stock price movements from factors that can affect stock returns. This is important to carry out a strategy in investing.

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Publication Details

Journal
American Journal of Economic and Management Business (AJEMB)
Published
2025-10-02
DOI
https://doi.org/10.58631/ajemb.v4i10.317
Primary Topic
Financial Analysis and Corporate Governance
Type
article
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article

The Influence Of Monetary Policy, Macroeconomic Variables, Global Markets, And Internal Company Factors On Stock Returns Of Lq45 Companies On The Indonesian Stock Exchange

Ratna Mutia
American Journal of Economic and Management Business (AJEMB)
Financial Analysis and Corporate Governance
article

The Influence Of Monetary Policy, Macroeconomic Variables, Global Markets, And Internal Company Factors On Stock Returns Of Lq45 Companies On The Indonesian Stock Exchange

Ratna Mutia
article en

Abstract

This study aims to identify the influence of monetary policy, macroeconomic variables, global markets and internal factors on stock returns in LQ45 companies on the Indonesia Stock Exchange in the period 2020Q1 to 2024Q3. The results of the estimation using the GMM (Generalized Method of Moment) panel show that BIR has a significant positive and negative influence on stock returns. Meanwhile, INF and EXR have a negative and significant influence on stock returns. However, DJ has a negative and insignificant influence on stock returns. while DER has a positive and significant influence on stock returns. Meanwhile, SIZE, ROA and ROE have a positive and insignificant influence on the return of LQ45 company shares on the Indonesia Stock Exchange. According to the results of the analysis in this study, monetary policy, macroeconomic variables, global markets and internal factors of the company are the most important components that can affect the level of stock return. In this study, the company's management needs to pay attention to aspects that directly affect the company's stock return and for potential investors to consider stock price movements from factors that can affect stock returns. This is important to carry out a strategy in investing.

American Journal of Economic and Management Business (AJEMB)Vol. 4(10)
Sultan Ageng Tirtayasa University (ID)
Openalex Percentile: Top 61%
Financial Analysis and Corporate Governance
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