Pengaruh Indeks Harga Kapas Dunia Terhadap Indeks Harga Saham Sektor Tekstil dan Garmen

The world cotton prices are likely to increase every year. The textiles and apparel companies which deliver financial performance reports that show the decline in profits. One of the investment analysis stated increasement of raw materials prices potentially tend to erode industry profits. This study was conducted to analyze the movement of world cotton price index to stock price index of textile and garment sector as the price which represents the cost of raw materials of cotton, which is part of the cost of production of textile and garment industry in general. This study also illustrates the difference in the world cotton price index movements of stock price index of textile and garment sector. The analysis focuses on the effect of world cotton price index of the stock price index of textile and garment sector. The discussion of the scope is only limited research on stock price index of textile and garment sector is represented by textile and garment companies listed in Indonesia Stock Exchange (IDX) from January 2006 until August 2010. World cotton prices, represented by the Cotlook A Index as raw materials commonly used in textile and garment sector which is a factor that affect the change in stock price index of textile and garment sector is obtained from the Cotlook A Index monthly period January 2006 to August 2010. For the sampling technique using purposive sampling, and test methods hypothesis used Linear Regression Analysis. The analysis and discussion by used hypothesis testing methods Linear Regression Analysis with the independent variables of the world cotton price index and the dependent variable is stock price index of textile and garment sector, showed correlation coefficient value -0.412 while the Coefficient of Determination (R 2 ) 17,7 percent. Test Results of t Test also show value of � 192.284 and the coefficient of world cotton price index (�) -0,018. The significance test of t Test 0,001 less than 0.05, which means the world cotton price index significantly influence the stock price index of textile and garment sector. F-statistic value 11,603 with a significance level 0,001. Thus, Linear Regression Analysis model used in this study were fit to analyze the correlation of world cotton price index to the stock price index of textile and garment sector. The limitations of this research only describes the relationship of the world cotton price index, stock price index of textile and garment sector without any other factors that can affect it so it needs to do further research on those factors that can affect the movement of stock price index of textile and garment sector in addition to world cotton price inde