DETERMINANTS OF CORPORATE BOND YIELD (STUDI KASUS PADA SEKTOR KEUANGAN YANG TERDAFTAR DI BEI TAHUN 2013 – 2016 )

Abstract

Bond yield is the return of bond investment which have to be noticed by investors and companies. In this research profitability, maturity, rates, coupons, leverage, and trading frequency are considered as variables which give influence to the bond yield. This research applies secondary data which has been obtained from Indonesia Stock Exchange (IDX) and STIESIA Investment Gallery. The population is 213 types of corporate financial sector bonds which are listed in Indonesia Stock Exchange (IDX) in 2013-2016 periods. The sample selection has been done by using purposive sampling method so that 73 types of corporate financial sector bonds which are listed in the IDX in 2013-2016 periods. The analysis method has been done by using multiple linear regressions analysis which gives the result that independent variables, simultaneously, give influence to the 66,2% to bond yield. Partially, profitability, rates, leverage and trading frequency give significant influence to the corporate bonds yield with its significance value of profitbility 0,026, rates of 0,000, leverage 0,025 and trading frequency equal of 0,000. Maturity and coupon don’t have any significant influence to the bond yield, with the significance value of 0,545 and 0,105.

Keywords: Bond yield, financial perfomance, bond characteristic, default risk.