PENGARUH RASIO KEUANGANPERUSAHAAN TERHADAP PERINGKAT OBLIGASI

Abstract

This study aims to analyze and test liquidity (CR), leverage (DER), profitability (ROA) and productivity (STA) on bond ratings. The population used in this study is companies that are included in the companies with the best category (LQ 45) which are listed on the Indonesia Stock Exchange. This type of research uses a causal comparative approach (causal-comparative research). The type of data used is secondary data, in the form of annual financial reports from 2016 to 2018. The sample technique used is purposive sampling. Purposive sampling. This test uses multiple linear regression analysis techniques. The scope of this research is to determine the relationship between several financial ratios and bond ratings. The choice of implementing financial ratios as one of the research variables considering the importance of financial ratios is a tool in analyzing financial statements through anticipation of future conditions and more importantly as a tool to determine the starting point in planning actions that will improve company performance in the future as well as can affect the bond rating. The results showed that: (1) Liquidity has a positive effect on bond ratings, (2) Leverage has a negative effect on bond ratings, (3) Profitability has a positive effect on bond ratings, (4) Productivity has a positive effect on bond ratings.
Keywords: current ratio, debt equity ratio, return on assets, total assets turnover