MEKANISME CORPORATE GOVERNANCE TERHADAP PREDIKSI PERINGKAT OBLIGASI
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Institusion
Sekolah Tinggi Ilmu Ekonomi Perbanas Surabaya
Author
MUCHTIARINDI, RIZKE PUSPITA
Subject
657.9 - ACCOUNTING-BANK
Datestamp
2017-07-06 02:08:10
Abstract :
Bond rating is one of factors to consider by the investors before investing in bonds as it provides informative statement and signal about the failure probability of corporate debt. In the assessment process of bond rating, a rating agency assesses a certain company from various aspects, one of them is corporate governance data. Research about bond rating in Indonesia is rarely done and the research findings tend to show different results. Therefore, conducting this research is necessary.The objective of this research is to acknowledge the mechanism of corporate governance towards bond rating which is registered in Indonesia Stock Exchange. The research population is the companies which are registered in Indonesia Stock Exchange in 2009 ? 2012 and listed in the bond listing of PT. Pefindo in 2010 ? 2013. The research sample is 31 companies chosen by using purposive sampling method. This research uses Logistic Regression analysis. The finding proves that the variables: managerial ownership, institutional ownership, size of board of commissioners, independent commissioners, and audit committee, do not give significant influence as the average of probability is less than 0.05 or 5%. As the conclusion, the independent variables cannot be used in predicting the bond rating. Keywords : corporate governance, bond rating, ownership, institutional ownership, independent commissioners, auditcommittee
Bond rating is one of factors to consider by the investors before investing in bonds as it provides informative statement and signal about the failure probability of corporate debt. In the assessment process of bond rating, a rating agency assesses a certain company from various aspects, one of them is corporate governance data. Research about bond rating in Indonesia is rarely done and the research findings tend to show different results. Therefore, conducting this research is necessary.The objective of this research is to acknowledge the mechanism of corporate governance towards bond rating which is registered in Indonesia Stock Exchange. The research population is the companies which are registered in Indonesia Stock Exchange in 2009 ? 2012 and listed in the bond listing of PT. Pefindo in 2010 ? 2013. The research sample is 31 companies chosen by using purposive sampling method. This research uses Logistic Regression analysis. The finding proves that the variables: managerial ownership, institutional ownership, size of board of commissioners, independent commissioners, and audit committee, do not give significant influence as the average of probability is less than 0.05 or 5%. As the conclusion, the independent variables cannot be used in predicting the bond rating. Keywords : corporate governance, bond rating, ownership, institutional ownership, independent commissioners, auditcommittee
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