The Influence of Profitability, Liquidity, Leverage, and Good Corporate Governance on Sukuk Ratings.

Masythah Khairiyah Ulfa (Department of Accountancy, University of Mataram)
Siti Atikah (Department of Accountancy, University of Mataram)

Asian Journal of Management, Entrepreneurship and Social Science
Vol. 4 No. 02 (2024): May, Asian Journal of Management Entrepreneurship and Social Science ( AJMESC

This study aims to determine the influence of profitability, liquidity, leverage, and Good Corporate Governance (GCG) on corporate sukuk ratings. The data used are secondary data obtained from the official websites of the Indonesia Stock Exchange, the Financial Services Authority (OJK), and company annual reports. The sample consisted of 48 observations from 12 companies over 4 years. The data were processed using Eviews12 software with panel data regression analysis. The results of the study indicate that profitability, liquidity, leverage, and GCG simultaneously affect sukuk ratings. Profitability has a positive yet insignificant impact on sukuk ratings. Similarly, liquidity shows a positive but non-significant effect on sukuk ratings. Leverage negatively influences sukuk ratings, though this effect is also not significant. Conversely, Good Corporate Governance has a significant negative impact on sukuk ratings.