Proceedings of the International Conference on Economics and Business Studies (ICOEBS-22-2)

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The Movement of Jakarta Composite Index (JCI) During the COVID-19 Pandemic from January 2020 to December 2021

Authors
Andika Wahyu Santoso1, Eni Setyowati1, *
1Faculty of Economics and Business, Universitas Muhammadiyah Surakarta (UMS), Surakarta, Indonesia
*Corresponding author. Email: es241@ums.ac.id
Corresponding Author
Eni Setyowati
Available Online 4 October 2023.
DOI
10.2991/978-94-6463-204-0_82How to use a DOI?
Keywords
Jakarta Composite Index; Macro Economics; Covid-19
Abstract

The Covid-19 pandemic in 2020 which caused the stock market crash in capital markets around the world and Indonesia became the background for this research. The purpose of this study is to analyze changes in the Jakarta Composite Index during the Covid-19 pandemic whether it is influenced by the variables of Bank Indonesia interest rates, Rupiah exchange rate, Inflation, Dow Jones Index, and world gold prices. This study used an Ordinary Least Square (OLS) based multiple linear regression technique and used Eviews 10 data processing software. The data used in this study was a secondary monthly time series with a total of 24 observations. From the F test, it was found that the variables of Bank Indonesia interest rates, inflation, rupiah exchange rate, dow jones index, and world gold price together influenced the movement of the Jakarta Composite index during the Covid-19 pandemic. Through validity tests, significant variables in influencing the Jakarta Composite Index during the Covid-19 pandemic are the variables of the rupiah exchange rate and the Dow Jones index, while the variables of Bank Indonesia interest rates, Inflation, and world gold prices do not have a significant influence on the volatility of the Jakarta Composite Index during the Covid-19 pandemic.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Conference on Economics and Business Studies (ICOEBS-22-2)
Series
Advances in Economics, Business and Management Research
Publication Date
4 October 2023
ISBN
978-94-6463-204-0
ISSN
2352-5428
DOI
10.2991/978-94-6463-204-0_82How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Andika Wahyu Santoso
AU  - Eni Setyowati
PY  - 2023
DA  - 2023/10/04
TI  - The Movement of Jakarta Composite Index (JCI) During the COVID-19 Pandemic from January 2020 to December 2021
BT  - Proceedings of the International Conference on Economics and Business Studies (ICOEBS-22-2)
PB  - Atlantis Press
SP  - 1009
EP  - 1020
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-204-0_82
DO  - 10.2991/978-94-6463-204-0_82
ID  - Santoso2023
ER  -