What does this research mean for the field?

The Nikkei 225 Index and Brent Crude Oil Prices positively and significantly influence the Indonesia Composite Stock Price Index (JCI), while the Rupiah Exchange Rate does not have a substantial impact. Novelty: ClaimNovelty.NOVEL_FINDING. Consensus alignment: ConsensusAlignment.NEUTRAL.

What question did this study set out to answer?

This research aims to analyze the impact of global and domestic factors on the Indonesia Composite Stock Price Index (JCI).

March 1, 2026SHILAP Revista de lepidopterologíaOpen Access

Determinants of the Composite Stock Price Index (JCI) on the Indonesia Stock Exchange (IDX) Based on the Nikkei Stock Exchange 225 Index (N225), Brent Crude Oil Price, and Rupiah Exchange Rate for the Period 2020-2023

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This research aims to analyze the impact of global and domestic factors on the Indonesia Composite Stock Price Index (JCI).
Employs a quantitative approach using multiple linear regression analysis.
Analyzes secondary data from Investing.com and Bank Indonesia.
Covers the period from 2020 to 2023.
Nikkei 225 Index and Brent Crude Oil Prices have a positive and significant effect on JCI.
Rupiah Exchange Rate does not significantly affect JCI.
JCI is more responsive to global economic changes than to domestic monetary dynamics.

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Implication

Quantitative analysis reveals Nikkei 225 and Brent crude oil prices impact JCI, suggesting global focus for investors.

Cite This Study

Nugroho et al. (2025) studied this question.

synapsesocial.com/papers/69a3d873ec16d51705d2f4fb https://doi.org/10.31538/iijse.v8i3.6547

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Determinants of the Composite Stock Price Index (JCI) on the Indonesia Stock Exchange (IDX) Based on the Nikkei Stock Exchange 225 Index (N225), Brent Crude Oil Price, and Rupiah Exchange Rate for the Period 2020-2023

Key Points

Discussion

Implication

Cite This Study

Determinants of the Composite Stock Price Index (JCI) on the Indonesia Stock Exchange (IDX) Based on the Nikkei Stock Exchange 225 Index (N225), Brent Crude Oil Price, and Rupiah Exchange Rate for the Period 2020-2023

Key Points

Discussion

Implication

Cite This Study

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