Faktor-Faktor Yang Mempengaruhi Peringkat Obligasi Pada Perusahaan Non Keuangan Yang Terdaftar DI Bursa Efek Indonesia (original) (raw)
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Jurnal Ilmu Administrasi Bisnis, 2013
This research aims to analyze the factors that affect bond ratings on banks listed on the Indonesia Stock Exchange. Where the suspected factors that affect the bond rating are firm growth, firm size (size), the company's liquidity, secure, maturity, and the auditor's reputation. The study is included in the explanatory type. The sampling technique used purposive sampling techniques, the sample amounted to 10 banks listed on the Indonesia Stock Exchange. The method of analysis used in this study is the factor analysis and logistic regression analysis. The factor analysis result shows that growth, size, liquidity, and auditor reputation are factors that affect on bond ratings. Secure and maturity are not included in these factors due to the value of MSA are not qualified testing. The logistic regression result shows that size affect on bond ratings. It means that size can make the bank bond ratings turn into good or bad. While the growth, liquidity, and auditor reputation has no effect to bank bond ratings. It means that the level of these variables have no impact on banks bond ratings.
Faktor-Faktor yang Mempengaruhi Peringkat Obligasi Pada Perusahaan Perbankan Di Bursa Efek Indonesia
MOTIVASI: Jurnal Manajemen dan Bisnis, 2018
Purpose-This research is aimed at knowing the factors that influence obligacy level at Banking Companies Listed on Indonesia Stock Exchange. Design/methodology-This research was such an associative research. The type of data used in this research was secondary data which was obtained by accessing BEI Websites (www.idx.co.id). To collect the data, the researcher used documentation. This research was considered as a quantitative analysis. To analyze the data, the researcher used Normality Test, Multiple Linear Regression and Hypetheses Tests (Ftest and Ttest) with 5% significant values. Findings-The result show that there were financial factors influenced current ratio, debt to equity ratio,and return on asset and there were also nonfinancial factors influenced maturity and secure toward obligacy level at Banking Companies. Ttest (partially) showed there were factors influenced current ratio, maturity, secure toward obligacy level, and not to debt to equity ratio and return on asset.
2014
Peringkatobligasimerupakanskalarisikodarisemuaobligasi yang diperdagangkan yang menunjukkanseberapaamansuatuobligasitersebut.Keamanantersebutditunjukkanolehkemampuannyadalammembyarbungadanpelunasanpokokpinjaman.Tujuandaripenelitianiniadalahunukmengetahuifaktor-faktorapasaja yang mempengaruhiprediksiperingkatobligasiperusahaan. Terdapat 2 faktor yang diteliti, yang pertamaadalahfaktorakuntansi yang terdiridariukuranperusahaan(size),leverage, profitability, activity,danmarket value ratio.Dan yang keduaadalahfaktor non-akuntansi yang terdiridarijaminan (secure), umurobligasi (maturity), danreputasi auditor. Penelitianinimerupakanpengujianhipotesis, denganjumlahsampel 30 perusahaan yang terdaftar di Bursa Efek Indonesia dalamtahun 2011-2012 serta yang mengeluarkanobligasidandiperingkatoleh PT. PEFINDO. Data yang telahdikumpulkandianalisisdenganmengunakananalisisdatayangterlebihdahuludilakukanpengujianasumsiklasiksebelummelakukanpengujianhipotesis. Pengujianhipotesisdalampengujianinimeng...
Jurnal Magister Akuntansi Trisakti, 2014
The purpose of this research is to examine the effect of insider ownership, institutional ownership, dividend policy, asset structure, profitability, firm growth, and business risk to debt policy. This research is developed based on the previous research carried out by Murni and Andriana (2007). Data were taken from all companies are listed at Indonesian Stock Exchange for three years (2009-2011) except financial, insurance, and other financial industries. Sample selection were based on purposive sampling. Only 45 companies meet the criteria and taken as sample. For this study SPSS 11.5 program is used to find out the effect from all independent variable above to dependent variable. The statistical used in this research was multiple regression. The research showed that institutional ownership, asset structure, profitability, and firm growth had effect to debt policy but insider ownership, dividend policy, and business risk had no effect to debt policy.
JBTI : Jurnal Bisnis : Teori dan Implementasi, 2015
In this thesis, the author examines the variables that can affect the bond ratings issued by rating agency PT. PEFINDO on non-financial companies and non-services that are listed in the Indonesia Stock Exchange. Variables that are used to influence bond ratings that leverage ratio, liquidity ratio, profitability, productivity ratio, firm size, maturity and independent commissioners. The samples used were 116 with conventional bonds, to publish financial statements, have complete data, have positive earnings and bonds with AAA-BBB ratings during the observation period 2004 to 2013. Testing the hypothesis in this study using logistic regression. The results showed there are several variables that can affect the bond ratings and there are several variables that do not affect the bond ratings. Variables that can affect the bond ratings of variable leverage ratios, profitability ratios, company size, maturity, and independent commissioner. Meanwhile, the variables that do not affect the bond ratings of variable liquidity ratio and the productivity ratio.
2013
This research aims to provide empirical evidence on factors that affect bond ratings. Financial performance consists of a leverage ratio (debt to equity), profitability (return on assets), solvency (cash flow from operations to total liabilities), and secure. The samples in this research were obtained by using purposive sampling method which consists of bonds issued by non-financial companies listed on the Indonesian Stock Exchange the period 2008-2011 and ranked by PT Pefindo. The result contains 26 sample bonds. This research uses a model of binary logistic regression analysis to examine the factors that affect bond ratings. From test of the four independent variables, the three leverage, solvency, and secure variables have significant influence to predict bond ratings. while profitability is the only variable which has no effect in predicting the bond rating.
PENELITIAN DAN KARYA ILMIAH, 2018
This research is conducted to find the factor’s affecting firm performance of non financial listed in Indonesia Stock Exchange. The sample was taken from 101 companies in the last five years from 2010-2014. The dependent variable in this research is the firm performance measured by return on equity, while the independent in this research is leverage measured debt to equity, growth opportunity, firm size, and liquidity. The results show that there are negative and significant influence between research leverage to firm performance. There is also posifive and significant effect between firm size to firm performance. And there is no influence between growth opportunity and liquidity to firm performance.
Penelitian ini bertujuan untuk memberikan bukti empiris tentang faktor yang mempengaruhi peringkat obligasi.vareabel yang digunakan dalam penelitian ini terdiri dari rasio profitiabilitas, rasio likuiditas, rasio solvabilitas, firm size dan reputasi auditor .Sampel dalam penelitian ini diperoleh dengan menggunakan metode purposive sampling yang terdiri atas obligasi yang diterbitkan oleh perusahaan terdaftar di BEI periode 2013-2016 dan diperingkat oleh PT.Pefindo, sehingga diperoleh 40 sampel obligasi.Penelitian ini menggunakan model analisis Regresi Logistik ordinal untuk menguji faktor-faktor yang mempengaruhi peringkat obligasi.Dari tes kelima variabel independen, variabel dengan pengaruh yang signifikan untuk memprediksi peringkat obligasi adalah profitabilitas dan firm size.Dan variabel yang tidak berpengaruh dalam memprediksi tingkat obligasi adalah rasio likuiditas, rasio solvabilitas dan reputasi auditor.
ECOBISMA (JURNAL EKONOMI, BISNIS DAN MANAJEMEN), 2020
Bond is one financial instrument that are interest to investors, in making decisions to buy bond the rating of bond can be the basis to buy bonds. The rating of bond can be seen from the ranking institution like PEFINDO. This study was conducted to analyze factor that influence the rating of bond in banking companies listed on Indonesia Stock Exchange period 2015 to 2018. Suspected factor that influence the rating of bonds is Capitalization, Liquidity, Profitability. Research Method used Multiple Linear Regression, hypothesis testing using F test and T test with level of significance 5% (α= 0,05). Type data that used is secondary data. In this study the sample is 22 banking companies Data was obtained from Indonesia Stock Exchange official site. The sampling technique is determined using targeted sampling (purposive sampling). The result form hypothesis testing is caplitalization, liquidity, profitability not affect the rating of bonds partially and simultaneously.