PENGARUH MANAJEMEN LABA DAN RASIO KEUANGAN PERUSAHAAN TERHADAP PERINGKAT OBLIGASI

Abstract

This research aims to examine the effect of earning management and the company’s financial ratio (leverage, liquidity, solvency, profitability, productivity) to bond ratings. Bonds rating is a statement about the state of the debtor and the possibility of what can be done in connection with the debt owned. The research used secondary data from non-financial companies that have the bonds listed in Indonesia Stock Exchange (BEI), and releases emissions period 2006 to 2009. The testing hyphotheses using regression test with model econometric dynamic. The result of this research showed earning management significant effect to bond issue , earning management significant effect to bond rating. liqudity ratio, leverage ratio, solvency ratio, are not shown significant effect to bond rating. Profitability ratio and productivity ratio significant effect to bond rating.