PENGARUH INFORMASI AKUNTANSI DAN NON AKUNTANSI TERHADAP PERINGKAT OBLIGASI PADA PERUSAHAAN TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

Bond rating is one that should be considered by investors before making an investment bond. This is because bond rating provides an informative statement and provides signals about the probability of failure of a company's debt. In the bond rating process, rating agencies rate firms from various aspects. Analysis of accounting and non-accounting information can be used to detect an under or overvalued securities. Research results on Indonesia’s bond rating have been found to show different results. Therefore, research should be repeated that test the influence of accounting and non-accounting information in predicting bond ratings. The purpose of this study was to find empirical evidence of accounting information and non-accounting information that can influence ratings of investment grade corporate bonds and non-investment grade. The data used are the data of non-financial corporate bonds listed on the Indonesia Stock Exchange (IDX) and assessed by a rating agency PEFINDO in the year 2006-2010. Variable research of accounting information is size (TA), financial leverage (LTLTA), liquidity (CACL), solvency (CFOTL), profitability (OIS), productivity (STA). Variable research of non-accounting information is secure, maturity, and reputation of auditor. By using logistic regression analysis with the application program of SPSS 15, this study tries to examine the accounting information and non-accounting information that can influence a bond rating prediction. The result of this research shown size (TA) and productivity (STA) have a positive significant effect on a bond rating prediction. Financial leverage (LTLTA), liquidity (CACL), solvency (CFOTL), profitability (OIS), secure, maturity, and the reputation of the auditor does not have a significant effect in the prediction of bond ratings.