Title : The Role of Financial Factors and Non-Financial Factors on Corporate Bond and Sukuk Rating Indonesia
Authors:
- Nisful Laila
- Sylva Alif Rusmita
- Eko Fajar Cahyono
Department : Islamic Economics
Journal Name : Journal of Islamic Accounting and Business Research
Kinds of Journal : Q2
Keywords : Corporate Bond, Corporate Sukuk, Determinant Rating, Indonesia
Abstract:
Purpose - This study aims to analyze the determinants of ratings of corporate bonds and sukuk issued by firms listed on the Indonesia Stock Exchange (IDX) for the 2013-2019 period. Design/Methodology/Approach - This study uses a quantitative approach by testing hypothes and using logistics regression. ORDINAL LOGISTIC ENDOGENOUS (OR Dependent) Variables (Y) in Ordinal Logistics Use Data in the Form of Levels (Ordinal Scale). Independent (or exogenous) variables (x), including financial and non -finance factors for dependent (or endogenous) variables (y), namely, of corporate bonds and sukuk ratings. There are two approaches to the studies they are logit and gompit (negative log-log. The population of the study is Indonesian listed on the idx that is issued bonds and sukuk for the 2013-2019 periods. The sampling technique is purposive. Sukuk Were Chosen. In total, 270 Types of Bonds and 280 Types of Sukuk were selected as samples. and liquidity ratios appear to have no influence on the rating. In the case of sukuk, profitability, liquidity and maturity date play Sukuk Ratings. Research Limitations/Implications - For Both Sukuk and Bond Issuers, it is necking To consider depth to equity, structure and maturity. and Financial Performance. This study provides a systematic analysis which allows comparison between factors which affect bond and sukuk ratings in Indonesia
For details : https://repository.unair.ac.id/124586/6/b-02_nisfulalaila_artikel.pdf
