PENGARUH MEKANISME CORPORATE GOVERIVAIVCE DAN PERTUMBUHAN PERUSAHAAN TERHADAP PERINGKAT OBLIGASI

Abstract

This research is conducted to examine whether corporate governance mechanism and company growth affect the bond rating in Indonesia. The proxies of corporate governance mechanism are institutional ownership, independent commissioner and audit committee. Company growth is proxied by Investment Opportunity Set (IO4 This research used bond rating is assigned by PTPefrndo. Population in this research are outstanding corporation bond on 31 December 2005 until 31 December 2007. Total samples in this research are 119 observation. This research used ordinal logistic regression method to examine hypothesis. Output ofthis research showed that audit committee and company growth have a significantly positive effect to bond rating. However, this research didn't show that institutional ownership and independent commissioner affect to bond rating. Keyword institutional ownership, independent commissioner, audit committee, company growth, investment opportunity set, bond rating.