PENGARUH SUKU BUNGA SBI, INFLASI DAN PRODUK DOMESTIK BRUTO (PDB) TERHADAP INDEKS HARGA SAHAM GABUNGAN (IHSG) SERTA DAMPAKNYA TERHADAP NILAI AKTIVA BERSIH (NAB) REKSADANA SAHAM DI INDONESIA PADA TAHUN 2010 – 2011
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Thesis Magister Management Universitas Widyatama Bandung
Mutual funds are an investment alternative for the investors both institutional and individual investors, including small investors and those who do not have a lot of time and expertise and knowledge is limited to calculate the risk of their investments. Mutual Fund Investors can benefit if the portfolio of securities managed by fund managers deliver results as expected, but if the portfolio securities suffered losses the fund may also experience a loss. This study aimed to determine the effect of macroeconomic factors on the performance of the Net Asset Value (NAV) of mutual fund shares. Macro economic indicators used in this study is the index SBI interest rate, inflation, Gross Domestic Product (GDP) as well as Composite Stock Price Index (CSPI) as an intervening variable. The period of study was conducted in the first quarter of 2010 - the year 2011 using data quarterly. The research was conducted by the method of regression analysis Two-Stage Least Square with the help of Statistical Package applications of Social Science (SPSS). To find out how big the influence of the independent variable on the dependent variable we used multiple linear regression analysis, multiple and partial correlation analysis to determine the coefficient of determination, respectively. Testing the hypothesis using an F-statistic test and t-test statistics, the real level of 5%. The results showed that the test F Interest Rate, Inflation and GDP have a significant effect on JCI. And the impact of the total produce a significant effect on Mutual Funds NAV during the research period. However, the Interest Rate, Inflation and GDP has no significant effect on the NAB directly on the research period.
SBI interest rate, inflation, gross domestic product, stock price index, the net asset value of mutual fund shares