DAMPAK PENGUMUMAN PERINGKAT OBLIGASI PADA KINERJA OBLIGASI DI BURSA EFEK INDONESIA
The purpose of this study was to determine empirically the changes on bond rating that impacted on the bond’s<br />performance. The changes on bond rating were rated by PT Pefindo. This study used 65 samples from 30<br />companies with bonds data issued in 2009 – 2012. The samples were g...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Universitas Merdeka Malang
2017-03-01
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| Series: | Jurnal Keuangan dan Perbankan |
| Subjects: | |
| Online Access: | http://jurnal.unmer.ac.id/index.php/jkdp/article/view/831 |
| Summary: | The purpose of this study was to determine empirically the changes on bond rating that impacted on the bond’s<br />performance. The changes on bond rating were rated by PT Pefindo. This study used 65 samples from 30<br />companies with bonds data issued in 2009 – 2012. The samples were grouped into 13 upgrade bonds, 8<br />downgrade bonds and 44 stable. Bond’s performance was indicated by the value of yield to maturity (YTM).<br />The paired t-test was deployed with software SPSS version 15. The result showed that there was no different<br />performance before and after the announcement of bond ratings for both the entire sample and upgrade bond<br />groups. While for downgrade groups there was a significant difference before and after the announcement of<br />bond ratings. These result indicated that only downgade group had a significant difference from YTM, therefore<br />bond ratings announcement contained useful information for the investors. |
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| ISSN: | 1410-8089 2443-2687 |