PREDIKSI KEBIJAKAN UTANG, PROFITABILITAS, LIKUIDITAS, UKURAN, DAN STATUS PERUSAHAAN TERHADAP KEMUNGKINANN PENENTUAN PERINGKAT OBLIGASI: STUDI EMPIRIK PADA PERUSAHAAN YANG MENERBITKAN OBLIGASI DI BURSA EFEK INDONESIA
ABSTRACT: The aim of this
research is to know the prediction of debt policy, profitability, liquidity,
size, and firm’s status on bond rating, and to find the accuracy rate for
classifying companies that have investment grade of bond rating and non
investment grade of bond rating based on these given factors. We employ
logistic regression model as data analysis method. Our sample is taken from
Indonesian Bonds Market Directory (IBMD) in the year of 2008 which
collected by purposive sampling method. There are 105 listed bond’s issuers
until 2008. In our observation, there are 3 issuers that have no bond rating so
that we use only 102 issuers as the sample. The results show that profitability
is the only explanatory variable which has significant impact on bond rating
with positive sign and the accuracy rate of debt policy, profitability,
liquidity, size, and firm’s status to classify bond issuer category are as high
as 85.3%.
Keywords: bond rating,
profitability, logistic regression model, classification matrix
Penulis: Bram Hadianto, M.
Sienly Veronica Wijaya
Kode Jurnal: jpmanajemendd100299
