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Journal : JURNAL PENELITIAN

ANALISIS MODEL PREDIKSI PEMERINGKATAN OBLIGASI SYARIAH PERUSAHAAN DENGAN PENDEKATAN RASIO KEUANGAN DI BURSA EFEK INDONESIA Tamara, Karima
Jurnal Penelitian Vol 10 No 2: November 2013
Publisher : IAIN Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (226.523 KB) | DOI: 10.28918/jupe.v10i2.362

Abstract

This study aimed to determine whether financial ratio was a predictor to predict future bond ratings, and which one was significant. This study concentrates on techniques to predict bond ratings. Bond rating is important because these rankings provide an informative statement and provide a signal about the probability of default of a company's debt. The Islamic bond companies listed in Indonesia Stock Exchange (IDX) and assessed by rating agencies PEFINDO in 2009- 2011 were used to answer the research question. Leverage (LTLTA), liquidity (CaCl), solvency (CFOTL), profitability (OIS), and productivity (STA) were used as variable of financial ratio. This study examined the financial ratios that can establish sharia bond rating prediction model using discriminant analysis (MDA). The results were : (1) there were different level of Islamic bond in financial ratios of liquidity (CaCl), solvency (CFOTL), profitability (OIS), and productivity (STA); (2) financial ratios, that could form the prediction model of Islamic bonds ranking, were CaCl , OIS , STA, (3) the accuracy level of the formed model were 94.3%.
ANALISIS MODEL PREDIKSI PEMERINGKATAN OBLIGASI SYARIAH PERUSAHAAN DENGAN PENDEKATAN RASIO KEUANGAN DI BURSA EFEK INDONESIA Karima Tamara
Jurnal Penelitian Vol 10 No 2: November 2013
Publisher : IAIN Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/jupe.v10i2.362

Abstract

This study aimed to determine whether financial ratio was a predictor to predict future bond ratings, and which one was significant. This study concentrates on techniques to predict bond ratings. Bond rating is important because these rankings provide an informative statement and provide a signal about the probability of default of a company's debt. The Islamic bond companies listed in Indonesia Stock Exchange (IDX) and assessed by rating agencies PEFINDO in 2009- 2011 were used to answer the research question. Leverage (LTLTA), liquidity (CaCl), solvency (CFOTL), profitability (OIS), and productivity (STA) were used as variable of financial ratio. This study examined the financial ratios that can establish sharia bond rating prediction model using discriminant analysis (MDA). The results were : (1) there were different level of Islamic bond in financial ratios of liquidity (CaCl), solvency (CFOTL), profitability (OIS), and productivity (STA); (2) financial ratios, that could form the prediction model of Islamic bonds ranking, were CaCl , OIS , STA, (3) the accuracy level of the formed model were 94.3%.