Pengaruh Dow Jones Islamic Market Indeks, Inflasi Dan Kurs Terhadap Harga Saham Himbara Periode 2023-2025

Abstract

Objective: This study analyzes the influence of the Dow Jones Islamic Market Index, inflation, and exchange rates on the stock price of the State-Owned Banks Association (HIMBARA).Methodology: A quantitative approach using time series panel data regression analysis for the period 2023-2025.Findings: The results indicate that the Dow Jones Islamic Market Index has a positive and significant effect on HIMBARA's stock price. Inflation has no effect on HIMBARA's stock price. Exchange rates also have a negative and significant effect.Practical Implications: These findings enhance the financial literature, which suggests that the integration of global Islamic capital markets and exchange rates has a direct impact on HIMBARA. Investors are encouraged to focus more on global dynamics and exchange rate changes and develop investment strategies for HIMBARA shares. HIMBARA management needs to strengthen its strategy for dealing with global market integration and exchange rate volatility to maintain stock price stability.Originality/Value: This study expands on previous research by focusing on the stock price of HIMBARA, a state-owned banking company. The use of global and macroeconomic index variables will provide new evidence that fluctuations in global and macroeconomic stock indexes interact in changes in HIMBARA stock prices