The Effect Of Growth, Profitability And Liquidity To Bond Rating Of The Banking Firms Listed On The Indonesian Stock Exchange (Period 2009-2013)
Abstract
This study aims to identify and analyze the effects of growth, profitability and liquidity on bond ratings of the banking firms listed on the Indonesia Stock Exchange (Period 2009-2013). Measurement of growth using sales growth and Earnings per Share growth, profitability is measured by Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), while liquidity is measured by the Loan to Deposit Ratio (LDR). The sample in this study is the banking firms listed in Indonesia Stock Exchange 2009-2013 and ranked by PT. PEFINDO. Sampling using purposive sampling in order to obtain a total sample of 7 banking firms that meet the criteria of the study sample set. The technique of the data analysis in this study is using ordinal regression with SPSS 18.0 for Windows.
The results showed that growth with sales growth of measurement has a positive influence on bond ratings while EPS growth measurement has no effect on bond ratings. Profitability with NPM and measurement ROA has a positive influence on bond ratings, when using ROE measurement has a negative influence on bond ratings. Liquidity with LDR of measurement has no effect on bond ratings.Keywords
References
Adrian, Nicko. 2011. AnalisisFaktor-Faktor yang MempengaruhiPeringkatObligasipada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia, SkripsiUniversitasDiponegoro Semarang.
Agusdan Daniel. 2013. KemampuanRasioKeuangandan Corporate Governance MemprediksiPeringkatObligasipada Perusahaan Consumer Goods, JurnalKeuangandanPerbankan, Vol.17 No.2, hal.230-242.
Almilia, Luciana Spica dan Devi, Vieka. 2007. Faktor-faktor Yang MempengaruhiPeringkatObligasipada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Jakarta. Proceeding Seminar Nasional Manajemen SMART.
Burton, B., Mike Adams, and Philip Hardwick. 1998. The Determinants of Credit Ratings in United Kingdom Insurance Industry. The Journal of Risk and Insurance.
Ghozali, Imam. 2012. AplikasiAnalisisMultivariatdengan Program SPSS. Semarang: BadanPenerbitUniversitasDiponegoro.
Hanafi, Mamduh M. dan Abdul Halim. 2012. AnalisisLaporanKeuangan. Edisirevisi. Yogyakarta: STIM YKPN.
Kasmir. 2010. PengantarManajemenKeuangan. Jakarta: Kencana.
Kaur, KuljeetdanRajinder Kaur. 2011. Credit Rating in India: A Study of Rating Methodology of Rating Agencies, Global Journal of Management and Business Research, Vol. 11, Issue 12.
Magretadan Poppy. 2009. Faktor-Faktor yang MempengaruhiPrediksiObligasiDitinjaudariFaktorAkuntansidan Non Akuntansi, JurnalBisnisdanAkuntansi, Vol 11 No. 3, hal 143-154.
Maharti, EnnyDwi. 2011. AnalisisFaktor-Faktor yang MempengaruhiPeringkatObligasi. SkripsiUniversitasDiponegoro Semarang.
Manurung, Addler, DesmonSilitongadan Wilson Tobing. 2009. HubunganRasio-RasioKeuangandengan Rating Obligasi, Jurnal.
Pottier, S.W and D.W Sommer. 1999. Property-Liability Insurer Financial Strength Ratings: Difference Across Rating Agencies. The Journal of Risk and Insurance. 66.
Rahardjo, Sapto. 2004. PanduanInvestasiObligasi. Jakarta: PT.GramediaPustakaUtama.
Sartono, Agus. 2001. ManajemenKeuanganTeori Dan Aplikasi. Edisi 5. Yogyakarta : BPFE.
Sejati, Grace Putri. 2010. AnalisisFaktorAkuntansidan Non AkuntansidalamMemprediksiPeringkatObligasi Perusahaan Manufaktur, BisnisdanBirokrasi, JurnalIlmuAdministrasidanOrganisasi, Jan-Apr hlm.70-78.
Sundjaja, Ridwan S., IngeBarliandan Dharma Putra Sundjaja. 2010. ManajemenKeuangan 2, Literata Lintas Media, Bandung.
Taswan. 2013. AkuntansiPerbankan. Edisi III. Yogyakarta: UPP STIM YKPN.
Winardi, RachmatDwi. 2013. FaktorAkuntansidanFaktor Non-Akuntansi yang MempengaruhiPrediksiPeringkatObligasi. Skripsi UIN SyarifHidayatullah Jakarta.
Yamin, Sofyan&HeriKurniawan. 2009. SPSS Complete. Jakarta: SalembaEmpat.
------www.idx.co.id
------www.kompasiana.com
------www.pefindo.com
Syamsu Rizal and Winda Sutanti.2015. The Effect Of Growth, Profitability And Liquidity To Bond Rating Of The Banking Firms Listed On The Indonesian Stock Exchange (Period 2009-2013). The 3rd International Multidisciplinary Conference onSocial Sciences (IMCoSS 2015)Bandar Lampung University (UBL)
Refbacks
- There are currently no refbacks.
International Multidiciplinary Conference On Social Sciences (IMCoSS)
Bandar Lampung University
ISSN : 2460-0598