Alwindaru, Syarifudin Putra (2026) Pengaruh Variabel Makroekonomi Terhadap Net Foreign Purchase Pada Pasar Saham Indonesia Periode 2020-2025. Undergraduate thesis, Universitas Pembangunan Nasional "Veteran" Jawa Timur.
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Abstract
Growing global financial market integration has made foreign investors a key driver of Indonesia's capital market dynamics. However, foreign capital flows, as reflected in net foreign purchase (NFP), have shown sharp fluctuations, shifting from a net buy position in 2024 to a net sell position in 2025. This study examines the effect of the USD/IDR exchange rate, benchmark interest rate, money supply (M2), and inflation on net foreign purchase in the Indonesian stock market during 2020–2025, both simultaneously and partially. A quantitative associative approach was employed using saturated sampling on 72 monthly secondary data points sourced from Bank Indonesia, the Central Statistics Agency, and the Indonesia Stock Exchange. The data were analyzed using multiple linear regression after all classical assumption tests were satisfied. The results show that the four macroeconomic variables jointly have a significant effect on NFP. Partially, the USD/IDR exchange rate has a significant negative effect, while money supply has a significant positive effect; in contrast, the benchmark interest rate and inflation show no significant influence. The model explains 17.83% of the variation in NFP, with the remainder attributable to factors outside the model. These findings underscore the importance of maintaining exchange rate stability and managing domestic liquidity as strategic considerations for monetary authorities and market participants in sustaining foreign investor confidence in Indonesia's capital market.
| Item Type: | Thesis (Undergraduate) | ||||||||
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| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HC Economics H Social Sciences > HG Finance H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation |
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| Divisions: | Faculty of Social and Political Sciences > Departement of Business Administration | ||||||||
| Depositing User: | Syarifudin Putra Alwindaru | ||||||||
| Date Deposited: | 21 Jul 2026 06:40 | ||||||||
| Last Modified: | 07 Sep 2026 08:16 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/57079 |
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