FAKTOR YANG MEMPENGARUHI HUTANG MATA UANG ASING DAN MATA UANG LOKAL SERTA PENGARUHNYA TERHADAP PENDAPATAN SAHAM DAN RISIKO PERUSAHAAN PUBLIK DI INDONESIA
Abstract: The purposes of this
research are to analyze and to test factors influenced the foreign currency
debt and local currency debt, to analyze and to confirm whether the separation
of foreign currency debt and local debt influence stock return and risk of
companies listing in the BEJ Jakarta, and to analyze and to test the correlation
between foreign debt and local debt. Path analysis and Amos are used to analyse
the data. The company size is the only variable that influances positively significant
to local debt. Operating margin, capital expenditure, tangible asset, foreign
sales and foreign cash influence negatively significant to the local debt. While
market to book ratio and foreign equity do not significally influence the local
debt. Foreign sales is the only variable that influences positively significant
to the foreign debt. While operating margin, company size, capital expenditure,
and real asset influence negatively significant to the foreign debt. However,
market to book ratio, foreign equity, and foreign cash do not significanly
influence foreign debt. This study found out that foreign debt does not
significally influence the stock return. However this variable has positif
significant to the company risk Local debt does not influence neither stock
return nor the risk. The foreign debt and local debt have negative corelation that means there is
substitute correlation between them.
Keywords: Foreign debt, local
debt, stock return, risk, operating
margin, company size, capital expenditure, real asset, market to book ratio,
foreign equity
Penulis: Windijarto
Kode Jurnal: jpmanajemendd090135
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