PENGARUH UKURAN PERUSAHAAN, SOLVABILITAS, PERINGKAT OBLIGASI, DAN CORPORATE GOVERNANCE TERHADAP YIELD OBLIGASI KORPORASI

NATASYA NOVIANA, . (2022) PENGARUH UKURAN PERUSAHAAN, SOLVABILITAS, PERINGKAT OBLIGASI, DAN CORPORATE GOVERNANCE TERHADAP YIELD OBLIGASI KORPORASI. Sarjana thesis, UNIVERSITAS NEGERI JAKARTA.

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Abstract

Penelitian ini bertujuan untuk meneliti pengaruh beberapa faktor internal seperti ukuran perusahaan, solvabilitas, peringkat obligasi, dan corporate governance terhadap yield obligasi korporasi. Penelitian ini merupakan penelitian kuantitatif dengan menggunakan data sekunder. Variabel independen dalam penelitian ini adalah ukuran perusahaan, solvabilitas, peringkat obligasi, dan corporate governance. Variabel dependen dalam penelitian ini adalah yield obligasi korporasi. Unit analisis dan populasi dalam penelitian ini adalah obligasi korporasi yang diperdagangkan selama periode pengamatan, yaitu 1 Januari 2020 – 30 September 2021. Dengan menggunakan metode purposive sampling ditetapkan sejumlah 87 data observasi selama periode pengamatan dengan jenis data cross-section, digunakan teknik analisis regresi linear berganda dengan model estimasi Ordinary Least Square (OLS). Hasil pengujian hipotesis menyatakan bahwa secara parsial ukuran perusahaan, solvabilitas, peringkat obligasi, dan komite audit berpengaruh terhadap yield obligasi. Sedangkan kepemilikan manajerial dan dewan komisaris independen secara parsial tidak berpengaruh terhadap yield obligasi. Secara simultan, ukuran perusahaan, solvabilitas, peringkat obligasi, kepemilikan manajerial, dewan komisaris independen dan komite audit berpengaruh terhadap yield obligasi. Berdasarkan hasil penelitian tersebut, obligasi yang diterbitkan oleh perusahaan dengan total aset yang besar, hasil rasio DER yang rendah, peringkat obligasi yang tinggi dan mengangkat sedikit komite audit merupakan karakteristik dari perusahaan yang menerbitkan obligasi dengan risiko rendah dan yield yang rendah. Bagi investor obligasi, hasil penelitian ini diharapkan dapat menjadi referensi untuk berinvestasi sesuai preferensi risiko. Bagi perusahaan penerbitobligasi, hasil penelitian ini diharapkan dapat menjadi bahan pertimbangan sebelum menetapkan tingkat bunga dari obligasi yang selanjutnya akan diterbitkan. Kata Kunci: Yield Obligasi, Ukuran Perusahaan, Solvabilitas, Peringkat Obligasi, Corporate governance. *** This study aims to see the effect of several internal factors such as firm size, solvency, bond rating, and corporate governance on corporate bond yields. This research type is quantitative research and uses secondary data. The independent variable in this research is firm size, solvency, bond ratings, and corporate governance. The dependent variable in this research is corporate bond yields. The unit of analysis and population in this study are corporate bonds that traded during the observation period, from January 1, 2020 until September 30, 2021. Using purposive sampling method, 87 observation data were determined during the observation period. The type of data is cross-section, data analysis technique that is used in this study is multiple linear regression analysis, and estimation model data is Ordinary Least Square (OLS). The results of hypothesis testing state that firm size, solvency, bond ratings, and audit committees partially affect bond yields, while managerial ownership and independent commissioners partially do not affect bond yields. Simultaneously, firm size, solvency, bond ratings, managerial ownership, independent commissioners, and audit committees affect bond yields. Based on the research results, bonds issued by companies with large total assets, low DER ratio results, high bond ratings and appointing a few audit committees are characteristics of companies that issue bonds with low risk and low yields are bonds that have low risk and will produce low yields. For bond investors, this research is expected to be a reference for investing according to risk preferences. For bond issuing companies, the results of this study are expected to be taken into consideration before determining the interest rate of the bonds that will be issued subsequently. Keywords: Bond Yields, Firm Size, Solvency, Bond Ratings, Corporate Governance.

Item Type: Thesis (Sarjana)
Additional Information: 1). Dr. Etty Gurendrawati, M.Si., Ak. ; 2). Dwi Handarini, S.Pd. M.Ak.
Subjects: Ilmu Sosial > Perdagangan, e-commerce > Akuntansi
Ilmu Sosial > Keuangan
Divisions: FE > S1 Akuntansi
Depositing User: Users 14690 not found.
Date Deposited: 02 Sep 2022 06:40
Last Modified: 02 Sep 2022 06:40
URI: http://repository.unj.ac.id/id/eprint/34439

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