PENGARUH LIKUIDITAS, UMUR OBLIGASI, DAN LEVERAGE TERHADAP PERINGKAT OBLIGASI PADA PERUSAHAAN GO PUBLIC YANG TERDAFTAR DI BEI

Abstract

Bond rating should be considered by an investor prior to bond because bond rating very useful to provide information about the company’s ability to pay the bonds issued. This research aims to verify the influence of factors of accounting and non accounting factors to bond ratings predicted. Accounting factors in this study consist of liquidity and leverage, while the factor of non accounting is bond maturity. The population of this research is a publicly traded company listed in Indonesia Stock Exchange period 2009-2013 and ranked by PT PEFINDO. The selection of samples with a purposive sampling method and type of data used are secondary data obtained from the official website of the Indonesia Stock Exchange and PT PEFINDO. Data analysis using logistic regression analysis.

The result of this research indicate that liquidity and leverage the significant influence of the ratings of bonds, this indicates that the show that the liquidity and leverage can affect the good and the bad rating of bonds company. While bond maturity is not significant to the influential bond rating of bonds, this indicates that the high or the low of the variable does not have an impact on good and bad companies, especially publicly traded company in Indonesia Stock Exchange.

Keywords: Bond Rating, Liquidity, Bond Maturity, and Leverage