scholarly journals PENGARUH TINGKAT SUKU BUNGA, BOND RATING, UKURAN PERUSAHAAN, DEBT TO EQUITY RATIO (DER) TERHADAP YIELD TO MATURITY OBLIGASI KORPORASI DI BEI PERIODE TAHUN 2010-2012.

2019 ◽  
Vol 6 (3) ◽  
pp. 295
Author(s):  
Hendaryadi , ◽  
Meina Wulansari Yusniar ◽  
Abdul Hadi
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Stock Exchange ◽  
Corporate Bonds ◽  
Market Price ◽  
Financial Statements ◽  
Company Size ◽  
Bond Ratings ◽  
Bond Rating ◽  
Equity Ratio

<p><em>This study aimed to analyze the effects of interest rates, bond rating, company size, and debt to equity ratio (DER) of the yield to maturity (YTM) of corporate bonds in Indonesia Stock Exchange. Previous researches showed different results, therefore, it is necessary to re- study by testing the four variables on the yield to maturity.</em></p><p><em>The population in this study was all corporate bonds listed and traded on the Stock Exchange in the period of 2010-2012. There were 324 bonds. Based on the Purposive sampling criteria, 66 bonds were obtained. The research hypothesis was tested by multiple linear regression (multiple regression) and the analysis tools were company's financial statements, market price of the bond, SBI interest rate and bond ratings.</em></p><p><em>The results showed that the variable interest rates and the debt to equity ratio did not significantly affect the yield to maturity of the bonds. Variable bond rating and company size gave     significant</em><em> </em><em>n</em><em>e</em><em>g</em><em>a</em><em>ti</em><em>ve</em><em> </em><em>ef</em><em>f</em><em>ec</em><em>t</em><em>s</em><em> </em><em>ontheyield</em><em> </em><em>t</em><em>omaturity</em><em> </em><em>of</em><em> </em><em>t</em><em>he</em><em> </em><em>bonds.</em><em></em></p>

scholarly journals PENGARUH DEBT EQUITY RATIO, CURRENT RATIO, MATURITY DAN SIZE TERHADAP BOND RATING (STUDI PADA PERUSAHAAN PERBANKAN YANG TERDAFTAR DI BEI PERIODE 2012-2017)

2020 ◽  
Vol 2 (1) ◽  
pp. 53-79
Author(s):  
Ekka Pratama ◽  
Revan Andhitiyara
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Binary Logistic Regression ◽  
Sampling Technique ◽  
Financial Statements ◽  
Current Ratio ◽  
Bond Ratings ◽  
Bond Rating ◽  
Significance Level ◽  
Equity Ratio

This research is aims to analyze the influence of Debt Equity Ratio,  Current  Ratio,  Maturity  and  Size  on  Banking  Company  Bond Ratings on the Indonesia Stock Exchange for the period 2012-2017. The study  uses  secondary  data  from  the  annual  financial  statements  of selected companies downloaded from the official website of the Indonesia Stock  Exchange.  The  sampling  technique  uses  purposive  sampling method. The sample in this study consisted of 11 banking companies. Data analysis was performed by testing hypotheses both partially and simultaneously. The analytical method used is binary logistic regression with a significance level of 5% and 10%. Based on the results of the study showed that partially Debt Equity Ratio (DER) variables did not significantly influence Bond Rating, Current Ratio (CR) had a positive and significant effect on Bond Rating, Maturity had no significant effect and Size had a negative and not significant effect on Bond Rating. Simultaneously, a significance value of 0.002 is obtained, because the significance value is smaller than 0.05, then all variables affect the Bond Rating. Based on the results of the study, it is expected to be able to be an evaluation material for banks related to Bond Rating and its relationship with DER, CR, Maturity, and Size so that the bank can do the processing properly.

DETERMINAN TIMELINESS OF FINANCIAL REPORTING PADA INDUSTRI MANUFAKTUR INDONESIA

2017 ◽  
Vol 2 (1) ◽  
pp. 73
Author(s):  
Mohamad Zulman Hakim
Keyword(s):  
Financial Reporting ◽  
Manufacturing Industry ◽  
Sampling Method ◽  
Stock Exchange ◽  
Financial Statements ◽  
Company Size ◽  
Return On Assets ◽  
Financial Report ◽  
Independent Variables ◽  
Equity Ratio

This study aims to prove empirically the factors that affect the Timeliness of Financial Reporting. These factors are Return on Assets (ROA), Debt to Equity Ratio (DER), Company Size and Auditor Opinion as Independent Variables and Timeliness of Financial Statements as Dependent Variables.The population of this study is the Manufacturing Industry listed on the Indonesia Stock Exchange period 2012-2014. The sample was determined by purposive sampling method and 66 companies were obtained. The data used are obtained from the published company financial report. The method of analysis used is logistic regression at 5% significance level.Empirical study shows that ROA has significant effect on Timeliness of Financial Reporting. DER, Company Size and Auditor Opinion have no significant effect on Timeliness of Financial Reporting. Keywords:    ROA, DER, Company Size, Auditor Opinion, Timeliness of Financial Reporting

scholarly journals Analisis Faktor Keuangan dan Non Keuangan yang Mempengaruhi Prediksi Peringkat Obligasi (Studi empiris pada perusahaan penerbit obligasi yang terdaftar di Bursa Efek Indonesia periode 2012-2014)

AKUNTABEL ◽  
2017 ◽  
Vol 14 (1) ◽  
pp. 69
Author(s):  
Putri Sakinah ◽  
Ardi Paminto ◽  
M. Amin Kadafi
Keyword(s):  
Logistic Regression ◽  
Regression Analysis ◽  
Data Collection ◽  
Logistic Regression Analysis ◽  
Sampling Method ◽  
Stock Exchange ◽  
Current Ratio ◽  
Bond Ratings ◽  
Bond Rating ◽  
Equity Ratio

The purpose of this study is to examine the effect of liquidity as measured by Current Ratio (CR), Leverage is measured by Debt to Equity Ratio (DER), guarantee and age of bonds to bond rating listed on the Indonesia Stock Exchange. The research sample used is a bond issuer company listed on the Indonesia Stock Exchange (IDX) period of 2012 to 2014. Data collection research using purposive sampling method. Data obtained by 10 companies in the period 2012 to 2014. This study used logistic regression analysis to analyze the data. The result of this research is the liquidity proxied with Current Ratio (CR) has no significant effect on the rating of bond in Indonesia Stock Exchange. The leverage proxied by the Debt to Equity Ratio significantly influences the rating of bonds on the Indonesia Stock Exchange and the age of the bonds and the guarantee does not significantly affect the rating of bonds in the Indonesia Stock ExchangeKeywords: Bonds, bond ratings, liquidity, leverage, age of bonds, guarantees

Pengaruh Ukuran Perusahaan, Debt to Equity Ratio, Return on Equity, Produktivitas dan Current Ratio Terhadap Peringkat Obligasi

2014 ◽  
Vol 6 (2) ◽  
pp. 56-76 ◽  
Author(s):  
Martinus Martinus ◽  
Rosita Suryaningsih
Keyword(s):  
Financial Institution ◽  
Stock Exchange ◽  
Total Sample ◽  
Total Asset ◽  
Company Size ◽  
Current Ratio ◽  
Bond Rating ◽  
Return On Equity ◽  
Equity Ratio ◽  
Turn Over

The objectives of this research is to examine the effect of Company Size proxied by Total Asset, Debt to Equity Ratio (DER), Return On Equity (ROE), Productivity proxied by Total Asset Turn Over (TATO), and Current Ratio (CR) both partially and simultaneously towards Bond Rating. Bond rating is important to be considered by investors and creditors since it can indicate the company’s default risk. The objects of this study are financial institution which were entire financial companies that issuing bonds and rated by PT PEFINDO for 2012, 2013, and 2014, and listed at the Indonesia Stock Exchange periode 2011-2013. Total sample in this research are 18 companies that selected with purposive sampling and analyzed by using multiple regression method. The data used in this study are secondary data such as financial statements and list of bond rating PT PEFINDO. The result of this research indicates that (1) Company Size proxied by Total Asset had a significant affect towards bond rating (2) Debt to Equity Ratio (DER) had no effect towards bond rating (3) Return On Equity (ROE) had no effect towards bond rating (4) Productivity proxied by Total Asset Turn Over (TATO) had no effect towards bond rating (5) Current Ratio (CR) had no effect towards bond rating (6) Company Size, Debt to Equity Ratio (DER), Return On Equity (ROE), Productivity, and Current Ratio (CR) simultaneously have a significant effect towards Bond Rating. Keywords: Company Size, Debt to Equity Ratio (DER), Return On Equity (ROE), Productivity, Current Ratio (CR), Bond Rating

scholarly journals The Impact of Interest Rate, Inflation Rate, Time to Maturity and Bond Rating: Indonesia Case

2019 ◽  
Vol 2 (1) ◽  
pp. 27-40
Author(s):  
Dwi Kusriyanto ◽  
Nelmida
Keyword(s):  
Interest Rate ◽  
Inflation Rate ◽  
Stock Exchange ◽  
Corporate Bonds ◽  
Secondary Data ◽  
Sampling Technique ◽  
Bond Rating ◽  
Maturity Period ◽  
Effect On Yield ◽  
The Impact

This study aims to analyze the impact of interest rate, inflation rate, time of maturity, and bond rating on yield to maturity corporate bonds listed on the Indonesia Stock Exchange. The type of data in this study is secondary data. The object of research is all corporate bonds of banking companies listed on the Indonesia Stock Exchange in 2015 - 2017. The sampling technique used is purposive sampling with a total of 70 bonds. This study used multiple regression analysis. Based on the results, shows that the Bank Indonesia interest rate, the maturity period has a positive effect on yield to maturity, while the bond rating does not affect yield to maturity. However, the inflation rate does not affect the yield to maturity. This result can be used by academics, investors and Regulators.

scholarly journals FAKTOR DETERMINAN YIELD OBLIGASI PERUSAHAAN KORPORASI

2020 ◽  
Vol 11 (2) ◽  
pp. 117-128
Author(s):  
Maunatun Zulfa ◽  
Aida Nahar
Keyword(s):  
Exchange Rates ◽  
Interest Rates ◽  
Stock Exchange ◽  
Analytical Tool ◽  
Corporate Bond ◽  
Company Size ◽  
Bond Yields ◽  
Bond Ratings ◽  
Factors Affecting ◽  
Bond Liquidity

Abstract The aims of this research was to analyze the effect of interest rates, bond ratings, company size, exchange rates, bond coupons, matutity, bond liquidity, solvency, and profitability on corporate bond yields. Yields have been received by investors from the bond investment profits are always fluctuating. The total number of population in this study were all corporate companies that issue bonds listed on the Indonesia Stock Exchange (IDX) for the 2015-2017 period. A total of 90 bonds from 12 corporate companies were sampled in this study. The analytical tool used is multiple linear regression. The results of this study indicate that the dominant factors affecting bond yields are bond coupons and maturity. Bond coupons have a positive and significant effect on bond yields. The result of the research showed that matutity could prove to produce a negative and significant effect on bond yields. Keywords: Bond coupons; bond liquidity; bond ratings; bond yields; company size; exchange rates; interest rates; matutity; profitability; solvency Abstrak Tujuan dari penelitian ini adalah untuk menganalisis pengaruh tingkat bunga, peringkat obligasi, ukuran perusahaan, nilai tukar, kupon obligasi, matutity, likuiditas obligasi, solvabilitas, dan profitabilitas terhadap hasil obligasi perusahaan. Imbal hasil yang diterima investor dari investasi obligasi selalu berfluktuasi. Jumlah total populasi dalam penelitian ini adalah semua perusahaan perusahaan yang menerbitkan obligasi yang terdaftar di Bursa Efek Indonesia (BEI) untuk periode 2015-2017. Sebanyak 90 obligasi dari 12 perusahaan perusahaan dijadikan sampel dalam penelitian ini. Alat analisis yang digunakan adalah regresi linier berganda. Hasil penelitian ini menunjukkan bahwa faktor dominan yang mempengaruhi hasil obligasi adalah kupon obligasi dan jatuh tempo. Kupon obligasi memiliki efek positif dan signifikan terhadap hasil obligasi. Hasil penelitian menunjukkan bahwa matutity dapat membuktikan menghasilkan efek negatif dan signifikan terhadap hasil obligasi. Kata kunci: Kupon obligasi; likuiditas obligasi; peringkat obligasi; hasil obligasi; ukuran perusahaan; nilai tukar; suku bunga; matutity; keuntungan; solvabilitas

scholarly journals Determinants of Bond Rating and its Implications to Corporate Bond Yield

2019 ◽  
Vol 9 (2) ◽  
pp. 195-200
Keyword(s):  
Logistic Regression ◽  
Panel Data ◽  
Corporate Bonds ◽  
Corporate Bond ◽  
Company Size ◽  
Bond Yields ◽  
Bond Ratings ◽  
Bond Rating ◽  
Panel Data Regression ◽  
Data Regression

Identifying the factors that affect bond ratings is important in relation to investment decisions in long-term debt securities because they have an impact on corporate bonds. The research objective is to analyze the factors that influence bond ratings and their implications for corporate bond yields, both partially and simultaneously. This study uses a logistic regression model to estimate the determinants of corporate bond ratings and a panel data regression model to estimate the implications for corporate bond yields, by taking samples of corporate bonds listed on the Indonesia Stock Exchange (IDX) during the 2012-2016 period with a number of samples research with as many as 36 corporate bonds. Based on the results of the study, using the logistic regression method, the following research findings were obtained: company size, liquidity, leverage and profitability simultaneously affected bond ratings with a contribution of 33.62% (R2 ). In addition, the size and liquidity of the company have a positive and significant effect on bond ratings. While the results of the panel data regression analysis, it was found that company size, liquidity, leverage, profitability and bond rating simultaneously affected bond yields with a contribution of 70.4% (R2) while 29.6% was influenced by other variables. In addition, the size and leverage of the company has a negative and significant effect on the yield of corporate bonds. This study also shows that the larger the size of the company, the less sensitive the changes in bond yields and vice versa, the smaller the size of the company, the more sensitive it is to changes in corporate bond yields.

scholarly journals PENGARUH TINGKAT SUKU BUNGA, INFLASI, DEBT TO EQUITY RATIO, DAN UKURAN PERUSAHAAN TERHADAP YIELD OBLIGASI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2010 - 2016

2018 ◽  
Vol 15 (1) ◽  
pp. 18-32
Author(s):  
Laras Nurul Listiawati ◽  
V. Santi Paramita
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Multiple Regression ◽  
Firm Size ◽  
Stock Exchange ◽  
Bond Yields ◽  
Purposive Sampling ◽  
Bond Yield ◽  
Equity Ratio ◽  
Positive Effect

This study aims to determine the effect of interest rates, inflation, debt to equity ratio and firm size on bond yields at companies listed on the Indonesia Stock Exchange. Previous research shows different results. Therefore, it is necessary to do a research to re-examine the influence of these four variables on bond yield. The population in this study are all corporate bonds listed and traded on Indonesia Stock Exchange in period of 2010 to 2016, amounting to 584 bonds. Based on purposive sampling criteria 88 bonds were sampled. The research hypothesis was tested using multiple regression. This study concludes that interest rate has a positive effect on bond yield, debt to equity ratio negatively affect bond yield, while inflation and firm size have no effect on bond yield.

scholarly journals Analysis of Factors Affecting Yield to Maturity of Corporate Bonds Traded on Indonesia Stock Exchange 2016 - 2018

2020 ◽  
Vol 5 (7) ◽  
pp. 1443-1451
Author(s):  
Ayu Asih Sintami ◽  
Bambang Santosoe Marsoem
Keyword(s):  
Firm Size ◽  
Stock Exchange ◽  
Sample Selection ◽  
Corporate Bonds ◽  
Coefficient Of Determination ◽  
Bond Rating ◽  
Factors Affecting ◽  
Common Effect ◽  
Negative Effect ◽  
Equity Ratio

This study analyzes the influence of the variable Debt Equity Ratio (DER), Maturity, Firm Size and Bond Rating on the Yield To Maturity (YTM) of corporate bonds. The study population consists of corporate bonds traded on the Indonesia Stock Exchange period 2016-2018. The sample selection technique by purposive sampling. The research sample 43 corporate bonds issued by 18 companies from all sectors except the banking and financial sectors. The research analysis method used is descriptive statistics and Common Effect Model (CEM) panel data regression. The results showed that partially the DER variable had no effect on YTM, maturity had a significant positive effect on YTM, Firm Size and Bond Rating significant negative effect on YTM. The implication of this research is that companies need to improve their bond ratings to maintain investor confidence. In addition, is easier for companies with large assets to find external sources of funds through the issuance of bonds. This is because both are proven to have a negative effect on YTM. For further research, is expected to study other variables that affect YTM because the coefficient of determination in this study is 59%, and 41% is influenced by other variables not explained in this study.

scholarly journals The Effect Of Profitability, Liquidity, Leverage On Bond Rating Of Financial Companies

2021 ◽  
Vol 4 (4) ◽  
pp. 106-112
Author(s):  
Suryadi Hung ◽  
Ella Silvana Ginting ◽  
Sherly Joe
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Financial Sector ◽  
Multiple Linear Regression Analysis ◽  
Return On Assets ◽  
Current Ratio ◽  
Bond Ratings ◽  
Bond Rating ◽  
Equity Ratio ◽  
Quantitative Descriptive

This research was ain determine and analyze the effect of Simultaneous and Partial on Current Ratio, Debt to Equity Ratio, and Return On Assets on Bond Ratings in financial sector companies on the Indonesia Stock Exchange for the 2016-2019 period. The population of this reserach is the financial sector companies as many as 94 companies. The sampling method used purposive sampling, and the number of samples obtained was 18 companies. This type of research is quantitative descriptive using multiple linear regression analysis method. The results of this research show that the variables Current Ratio, Debt to Equity Ratio, and Return On Assets simultaneously have a significant effect on the Bond Rating of financial sector companies on the Indonesia Stock Exchange (IDX) in 2016-2019. Partially, Current Ratio, Debt to Equity Ratio, and Return On Assets have a significant positive effect on Bond Ratings for financial sector companies on the Indonesia Stock Exchange (IDX) in 2016-2019.

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