PENGARUH BUNGA PASAR, JATUH TEMPO OBLIGASI, RATING OBLIGASI, NILAI TUKAR DAN INFLASI TERHADAP YIELD OBLIGASI DI BURSA EFEK INDONESIA
Abstrak: This research
investigates the effect of BI rate, term to maturity, bond rating, exchange
rate and inflation to bond yield. The proxies of BI rate, term to maturity,
bond rating, exchange rate and inflation are independent variables, and the
dependent variable is bond yield. The research uses the sample of corporate
conventional bonds listed in Indonesia
Stock Exchange (IDX) and rated by Pefindo during 2000 – 2008 , while data of
market interest rate (BI rate), exchange rate and inflation provided from Bank
Indonesia and data statistik Indonesia.
It suggest that correlation between bond yield with BI rate, term to
maturity, bond rating, exchange rate and inflation are 0,640. While coefficient determination ( R
Square) equal to 0,409, its meaning 40,90 % bond yield explainable by interest
rate (BI rate), term to maturity, bond rating, exchange rate and the inflation,
the rest (59,10%) explained by others factor.
The result suggest, that BI rate, term to maturity, bond rating, exchange
rate and inflation have a significant effect to bond yield with 0,000 < α =
0,05. The existence of BI rate and term to maturity have possitive significant
effect to bond yield. The existence of bond rating and exchange rate have
negative significant effect to bond yield and inflation has no significant
effect to bond yield.
Penulis: Sam'ani
Kode Jurnal: jpmanajemendd100241
