Rafif, Muhammad Dzakwan (2026) Pengaruh Bitcoin, Emas, S&P500, Dan Suku Bunga The Fed Terhadap Indeks Harga Saham Gabungan. Undergraduate thesis, UPN Veteran Jawa Timur.
|
Text (Cover)
22011010097.-coverr.pdf Download (16MB) | Preview |
|
|
Text (Bab 1)
22011010097.-bab1.pdf Download (592kB) | Preview |
|
![[img]](https://repository.upnjatim.ac.id/style/images/fileicons/text.png) |
Text (Bab 2)
22011010097.-bab2.pdf Restricted to Repository staff only until 18 May 2029. Download (805kB) |
|
|
Text (Bab 3)
22011010097.-bab3.pdf Restricted to Repository staff only until 18 May 2029. Download (337kB) |
|
|
Text (Bab 4)
22011010097.-bab4.pdf Restricted to Repository staff only until 18 May 2029. Download (618kB) |
|
|
Text (Bab 5)
22011010097.-bab5.pdf Download (189kB) | Preview |
|
|
Text (Daftar Pustaka)
22011010097.-daftarpustaka.pdf Download (181kB) | Preview |
|
|
Text (Lampiran)
22011010097.-lampiran.pdf Restricted to Repository staff only until 19 May 2029. Download (1MB) |
Abstract
The development of the global financial system has introduced a variety of alternative investment instruments that potentially create substitution or complementary effects on the Indonesia Composite Stock Price Index (IHSG). This study aims to analyze the effect of Bitcoin prices, gold prices, the S&P 500 Index, and the Federal Reserve (The Fed) interest rate on IHSG over the period January 2010 to December 2025, employing the Vector Error Correction Model (VECM). Monthly secondary data were obtained from Investing.com and The Federal Reserve. Long-run VECM estimation results indicate that gold prices, the S&P 500 Index, and The Fed interest rate have a negative and significant effect on IHSG, while Bitcoin prices exhibit a negative but statistically insignificant effect. In the short run, only the S&P 500 Index shows a significant and positive effect on IHSG, whereas Bitcoin, gold, and The Fed interest rate demonstrate negative but insignificant effects. These findings suggest that Bitcoin, gold, and the S&P 500 function as complementary assets to IHSG, with Indonesian market participants tending to rotate portfolio allocations based on risk preferences and global sentiment conditions.
| Item Type: | Thesis (Undergraduate) | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Contributors: |
|
||||||||
| Subjects: | H Social Sciences > HG Finance | ||||||||
| Divisions: | Faculty of Economic and Business > Departement of Economics | ||||||||
| Depositing User: | Rafif muhammad | ||||||||
| Date Deposited: | 19 May 2026 03:55 | ||||||||
| Last Modified: | 19 May 2026 04:18 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/51891 |
Actions (login required)
 |
View Item |