The Effect of Macro Economic Variables on Stock Return of Companies That Listed in Stock Exchange: Empirical Evidence from Indonesia

  •  Aminullah Assagaf    
  •  Etty Murwaningsari    
  •  Juniati Gunawan    
  •  Sekar Mayangsari    


This study aims to analysis the effect of macroeconomic variables on the overall return of company shares which is a proxy with changes in the composite stock price index.

This study uses secondary data in a period of 20 months from November 2016 to June 2018. While the analysis technique uses multiple linear regression

This study found that macroeconomic variables consisting of inflation rates, interest rates, money supply, and foreign exchange rates, stock returns have a significant effect on companies on the Indonesia Stock Exchange.

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