FACTOR ANALYSIS – GROWTH, SIZE, PROFITABILITY, LIQUIDITY FACTORS ON BOND RATING
DOI:
https://doi.org/10.5555/ijosmas.v1i1.74Keywords:
Growth, Size, Profitability, Liquidity, Bond RatingAbstract
This study analyzes the factors that can influence the prediction of bond ratings on companies listed on the Indonesia Stock Exchange using accounting factors, namely company growth (Growth) as measured by the book to market ratio, company size (Size) as measured using total assets, profitability as measured using return on investment (ROA) and liquidity as measured using current assets (Current Ratio). In taking or determining the sample, taken in a targeted manner, as many as 36 series of bonds can be obtained from companies listed on the Indonesia Stock Exchange which are rated by PT Pefindo in 2017 to 2019. The data used are secondary data, data obtained and collected from documents- documents owned by the company. In this study, the variables that have a significant effect on the rating are Growth, Size, while the profitability and liquidity variables do not have a significant effect on bond ratings.
Downloads
References
Aini Nurhidayati, Abdullah. 2011. Analisis Faktor-Faktor yang Mempengaruhi Peringkat Obligasi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. (skripsi). Universitas Semarang.
Bursa Efek Indonesia, 2010, 2011: Bond Market Directory ; Fact Book.
Darmadji, Tjiptono, dan Henfy M. Fakhrudin. 2001. Pasar Modal di Indonesia. Edisi Pertama. Jakarta: Salemba Empat.
Eduardus Tandelilin, 1999. Investasi Manajemen dan Analisis. Yogyakarta: PAU Studi Ekonomi Universitas Gadja Mada.
Foster, George. 1986. Financial Statement Analysis, Prentice Hall International Inc.
Gumanti, Tatang Arya. 2011. Manajemen investasi Konsep, Teori dan Aplikasi. Edisi Pertama, Jakarta: Mitra Wacana Medika.
Google. www.idx.com.
Gitman. 2006. Practical Financial Management. Fourth Edition. South Western.
Mamduh M. Hanafi, M.B.A., Prof. Dr. Abdul Halim, M.B.A, Akt Analisis laporan keuangan / Dr. Mamduh M. Hanafi, M.B.A., Prof. Dr. Abdul Halim, M.B.A, Akt
Mark, K; Peter, K; dan Teck-Kin, S. 2001. Combining Bond Rating Forecasts Using Logit. The Financial Reviuew, pp 75 – 96.
PEFINDO. 2004. Indonesian Rating Highlight. Download www.pefindo.com
Raharjo, Sapto. 2004. Panduan Investasi Obligasi. Jakarta: PT. Gramedia Pustaka Utama.
Setiawati,. 2009. Analisis Faktor-Faktor yang Mempengaruhi Pemeringkat Obligasi Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. (skripsi). Surabaya: Universitas Wijaya Kusuma.
Sulistyanto. 2008. Pengantar Pengetahuan Pasar Modal. Edisi Keempat. Yogyakarta: Penerbit UPP AMP YKPN.
Wydia, Andry. 2005. Analisis Faktor-Faktor yang Mempengaruhi Prediksi Peringkat Obligasi. Jurnal Buletin Ekonomi dan Moneter dan Perbankan.
