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The capital market is one of economic instruments whose activities are related to the public and trading of <br /> <br /> <br /> securities. One of securities traded on the stock market is corporate bonds. The issuance of corporate bonds is <br /> <br /> <br />...
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| Format: | Theses |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/19544 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | The capital market is one of economic instruments whose activities are related to the public and trading of <br />
<br />
<br />
securities. One of securities traded on the stock market is corporate bonds. The issuance of corporate bonds is <br />
<br />
<br />
because the needs of company funds. The rise of the issuance of corporate bonds offered by the company to make <br />
<br />
<br />
investment choices in fixed-income instruments become increasingly diverse. Gains derived by investors from <br />
<br />
<br />
bonds is the yield. <br />
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There are still investors who suffered losses when investing in bonds, this is caused by a lack of knowledge about their investment instrument. Investor need to choose carefully before investing in corporate bonds, to produce a investing strategy in corporate bonds required analysis of the factors that affect yield corporate bonds. Some factors that affect corporate bond yield are the SBI interest rate, exchange rate, firm size, debt-to-equity ratio (DER) and bond ratings <br />
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The method of analysis used in this study is fixed effect panel data performed with Eviews 5.1 software. Analysis conducted by the selection model, regression model selected and econometric and statistical testing. This study uses data from September 2006-December 2008 using 27 samples of corporate bonds. <br />
The result shows that variable SBI rate, exchange rate and debt-to-equity ratio has positive influence on yield <br />
corporate bonds, while the variable size of the company did not significantly influence yield corporate bonds. <br />
Variable bond ratings show a negative correlation of yield corporate bonds <br />
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This research can be implemented by prospective investors, to know when the right time to buy corporate bonds. <br />
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For investors who already have a bond, they can find the right time to sell corporate bonds that they get a higher <br />
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<br />
return on capital. And for coporate bond issuers, they obtain additional information about the characteristics of <br />
<br />
<br />
the bond that they issued. |
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