DETERMINAN PERINGKAT OBLIGASI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Abstract

Bonds are securities or certificates which contain an agreement between the parties who give the loan (investors) and the parties who receive the loan (issuers) which means that the issuers recognize the loan to the owner of the bond. The issuance of the bond can be reviewed from both sides of the issuers and the investors. This research is meant to examine how is the influence of profitability to the bond rating of the company, the influence of firm size to the bond rating of the company and the influence of liquidity to the bonds rating of the company. The samples are bonds which are issued by manufacturing companies which are listed in IDX during 2010-2013 periods and these bonds have been rated by PT Pefindo. This research has been done by using logistic regression analysis model to examine the profitability, firm size and company’s liquidity to the bond rating of the company. The result of this research indicates that based on the result of logistic regression analysis, profitability has significant positive to the bond rating, firm size has insignificant positive to the bond rating and the liquidity has positive significant influence to the bond rating.
Keywords: bond rating, bond, profitability, firm size, liquidity, PT. PEFINDO.