NURHAYATI, NURHAYATI (2021) ANALISIS KINERJA KEUANGAN DAN PERINGKAT OBLIGASI TERHADAP YIELD OBLIGASI KORPORASI DI BURSA EFEK INDONESIA. S2 thesis, Universitas Mercu Buana Jakarta.
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Abstract
Background: Bond trading activities are related to bond yields. In Indonesia, there has not been much research on corporate bonds. Therefore, research on financial performance and bond ratings on corporate bond yields is still relevant. Objective: This study aims to analyze the effect of financial performance consisting of Return to Equity Ratio (ROE); Current Ratio (CR); Debt to Equity Ratio (DER) and Bond Rating to corporate bond yields in Indonesia. Theory: Term Structure Interest Rate. Method: This study uses a quantitative approach to the type of associative research. The population of this study is companies that issue corporate bonds listed on the Indonesia Stock Exchange in 2018 with a total sample of 13 companies. Results: Based on the t-test statistic, it was shown that Return on Equity (ROE) had a positive and significant effect on bond yields. Current Ratio (CR) is negative and significant, so if CR has decreased. Debt to Equity Ratio (DER) does not affect Bond Yield. The bond rating is positive and significant towards the bond yield. Keywords: Return on Equity (ROE), Current Ratio (CR), Debt to Equity Ratio (DER), Bond Rating and Bond Yield. Latar belakang: Aktivitas perdagangan obligasi terkait dengan imbal hasil (yield) obligasi. Di Indonesia, penelitian obligasi korporasi belum banyak dilakukan. Oleh karena itu, penelitian mengenai kinerja keuangan dan peringkat obligasi terhadap yield obligasi korporasi masih relevan untuk dilakukan. Tujuan: Penelitian ini bertujuan untuk menganalisis pengaruh kinerja keuangan yang terdiri dari Return to Equity Ratio (ROE), Current Ratio (CR), Debt to Equity Ratio (DER) dan Peringkat Obligasi terhadap yield obligasi korporasi di Indonesia. Teori: Penelitian dilandasi dengan teori Teori Term Structure Interest Rate Obligasi Metode: Penelitian ini menggunakan pendekatan kuantitatif dengan jenis penelitian asosiatif. Populasi penelitian ini adalah perusahaan yang menerbitkan obligasi korporasi yang terdaftar di Bursa Efek Indonesia tahun 2018 dengan jumlah sampel sebanyak 13 perusahaan. Hasil: Berdasarkan uji t statistic, ditunjukan bahwa Return on Equity (ROE) berpengaruh positif dan signifikan terhadap Yield Obligasi. Current Ratio (CR) pengaruh negatif dan signifikan, maka apabila CR mengalami penurunan. Debt to Equity Ratio (DER) tidak berpengaruh terhadap Yield Obligasi. Peringkat Obligasi bernilai positif dan signifikan terhadap Yield Obligasi. Kata kunci: Return on Equity (ROE), Current Ratio (CR), Debt to Equity Ratio (DER), Peringkat Obligasi dan Yield Obligas
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