The general objective of international financial management is to maximize corporate value by
maximizing the company's stock price. In international financial management there are few
investment alternatives. Where the investment it self is the placement of funds by investors at this point
and hoped to give a favorable rate of return in the future. Investments can be performed on various
instruments such as shares in the stock market, in the foreign exchange market, and on oil in the
commodities markets. Investment made by investors who intended to have more funds can provide
benefits in the future.
The variables of this study is the exchange rate of IDR/USD (as X1 variable) with indicators of
exchange rate IDR/USD for a forward contract delivery period of 3 months. Oil prices (as X2
variabel) with indicators of NYMEX oil price of 3 months of delivery (NYMEX oil futures). And stock
prices (as Y variabel) by the closing price indicator Composite Stock Price Index (CSPI). The research
was conducted from 2008 to 2012.
Methods of analysis in this study using correlation coefficient (R) which indicates the strength
(Strength) and direction of the relationship linear relationship of two random variables. The coefficient
of determination (R2) to measure the closeness so that it can be seen the influence of the variable X to
Y. Regression coefficients (β) to determine the functional relationship between the random variable Y
with the variable X.
This study shows that the effect of exchange rates, oil prices on stock prices, nobody will affect each
other. As seen from the calculations herein are not significant spss. This is all because of the global
crisis that occurred from 2008 to the present, so the decline was not caused by the exchange rate and oil
price index also does not affect the price IHSG. With the decline in oil prices and the exchange rate on
foreign investors prefer to invest in Indonesia, because they assume at any time American banks or
investment in petroleum will fall due to the economic crisis in the world and the war that is now.
Keywords: Exchange Rate IDR/USD, the price of Crude Oil and Stock Prices.