Analysis of Company Internal Factors on Yield to Maturity of Corporate Bonds Traded on the Indonesia Stock Exchange

Authors : Abdul Latif, Bambang Santoso Marsoem

Volume/Issue : Volume 4 - 2019, Issue 10 - October

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This study aims to examine and analyze the level of influence of internal company factors on the Yield to Maturity (YTM) of corporate bonds. The type of research used is kasuality. The population in this study are all companies issuing corporate bonds traded on the Indonesia Stock Exchange (IDX) in 2017-2018. This type of research is causality research, namely research that aims to test hypotheses and determine the relationship and influence of independent variables, namely, company size, bond rating, profitability and leverage on the dependent variable, namely yield to maturity bonds. The sampling technique used was purposive sampling. The sample in this study amounted to 104 corporate bonds from 40 companies that were the target population. Analysis of the data used in this study is panel data regression. The results showed that company size variables had a positive effect and profitability had a negative effect, bond rating and leverage variables had no effect, simultaneously the independent variables had a significant and significant effect on the dependent variable, based on the adjusted R square results of 0.8458 or 84.5% so that there were still other factors or variables can affect yield to maturity.

Keywords : Company Size, Bond Rating, Profitability, Leverage, Yield To Maturity Bonds.


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