This research aims to determine, analyze, and examine the effect of
inflation, the rupiah exchange rate, interest rates and gross domestic product
growth on the composite stock price index listed on the Indonesia Stock Exchange.
The population of this study are banking sector companies listed on the Indonesia
Stock Exchange in 2019-2021. The data used is time series data. The theory used
in this research is signaling theory. The data analysis method used is multiple
linear regression with a significant level of 0.05.
Based on the results of data analysis, inflation has no effect on the JCI as
evidenced by the regression coefficient INF -0.065 with a significance value of
0.047. NTR and TSB have a negative and significant effect as evidenced by the
NTR regression coefficient of -1.535 with a significance value of 0.000, while the
TSB regression coefficient is -0.022 with a significance value of 0.000. GDP
growth has a positive and significant effect as evidenced by the GDP regression
coefficient value of 0.007 with a significance value of 0.000.