Analisis Determinan Obligasi Korporasi

Abstract

This study aims to analyze the effect of interest rates, exchange rates, bond ratings, and DER on yield to maturity of corporate bonds in the Indonesia Stock Exchange for the period 2011-2014. The analysis technique used panel data analysis. The results of the study show that interest rates (X1) had a positive effect and statistically significant on yield to maturity. The exchange rate (X2) and bond rating (X3) had a negative effect and significant, while DER (X4) had a positive sign and significant. The important finding was the negative relationship of the exchange rate (X2) to yield to maturity. The negative relationship of the exchange rate occurred because investors perceived that holding rupiah (Rp) currency considered safer than other currencies; hence the rupiah exchange rate against the USD was considered relatively stable. This result was contrary to the basic theory formulated in the hypothesis.

Pengaruh Rasio Keuangan Terhadap Financial Distress pada Perusahaan Sub Sektor Bangunan Konstruksi yang Terdaftar di Bursa Efek Indonesia Tahun 2017 – 2019

“…Regresi Data Panel dengan Regresi Linier Berganda memiliki tujuan yang sama yaitu untuk memprediksi nilai intercept dan slope. Data Panel yang digunakan dalam penelitian hanya akan menghaslikan intercept dan slope yang berbeda pada setiap objek (perusahaan/emiten/entitas) dan pada setiap periode waktu penelitian (Ahmad & Wahyudiani, 2019).…”