PENGARUH BOND RATING TERHADAP IMBAL HASIL SAHAM DI BURSA EFEK INDONESIA
ABSTRACT: The purpose of this
study is to determine the effect of bond rating on stock returns. Sample of
this study covers 20 firms listed on Indonesia Stock Exchange. The research
period is from
2006 until 2008.
Controlling for systematic
risk, earning per share and liquidity, the result show that bond rating
has insignificant effect on stock returns. This suggests the bond rating
announcement has no news to the investor.
Further, contrast to
the theory, the
coefficient of bond
rating is positive meaning the
higher risk the low return and vice versa.
Penulis: Gatot Nazir Ahmad, Mohammad
Zakaria
Kode Jurnal: jpmanajemendd110309
