PENGARUH BUNGA PASAR, JATUH TEMPO OBLIGASI, RATING OBLIGASI, NILAI TUKAR DAN INFLASI TERHADAP YIELD OBLIGASI DI BURSA EFEK INDONESIA
ABSTRACT: This research
investigates the effect of BI rate, term to maturity, bond rating, exchangerate 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 datastatistik Indonesia.
It suggest that
correlation between bond
yield with BI
rate, term to
maturity, bondrating, 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: jpmanajemendd110326
