Mahardhika, Muhamad Guntur (2026) Analisis Pengaruh Faktor Ekonomi Makro: Inflasi, Kurs Rupiah, Suku Bunga BI 7-Day Repo Rate, Harga Minyak Dunia, dan Harga Batu Bara Acuan (HBA) Terhadap Indeks Sektor Energi (IDXENERGY) Pada Bursa Efek Indonesia. Undergraduate thesis, UPN Veteran Jawa Timur.
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Abstract
This study aims to analyze the effects of macroeconomic factors, namely inflation, the Rupiah exchange rate against the United States Dollar (USD/IDR), the BI 7-Day Repo Rate, world oil prices, and the Indonesian Coal Benchmark Price (Harga Batu Bara Acuan/HBA), on the Energy Sector Index (IDXENERGY) listed on the Indonesia Stock Exchange in both the short and long run. This study employed a quantitative approach using monthly secondary data from February 2021 to December 2025. The data were analyzed using the Vector Error Correction Model (VECM). The results indicate that, in the long run, inflation, the BI 7-Day Repo Rate, and world oil prices have a significant effect on IDXENERGY, while the Rupiah exchange rate and HBA do not have a significant effect. In the short run, the BI 7-Day Repo Rate at lag 5 and HBA at lags 4 and 5 significantly affect IDXENERGY, whereas inflation, the Rupiah exchange rate, and world oil prices do not show significant effects. Furthermore, the negative and significant Error Correction Term (ECT) coefficient indicates the existence of a long-run equilibrium adjustment mechanism. These findings imply that investors should consider significant macroeconomic factors when making investment decisions in the energy sector, while policymakers are expected to maintain macroeconomic stability to support the performance of the capital market, particularly the energy sector. Keywords: IDXENERGY, Macroeconomic Factors, Vector Error Correcetion Model (VECM)
| Item Type: | Thesis (Undergraduate) | ||||||||
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| Subjects: | H Social Sciences > HC Economics | ||||||||
| Divisions: | Faculty of Economic and Business > Departement of Economics | ||||||||
| Depositing User: | Muhamad Guntur Mahardhika | ||||||||
| Date Deposited: | 03 Sep 2026 07:19 | ||||||||
| Last Modified: | 03 Sep 2026 07:19 | ||||||||
| URI: | https://repository.upnjatim.ac.id/id/eprint/59934 |
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