Pengaruh Maturity Peringkat Obligasi dan Debt to Equity Ratio Terhadap Yield to Maturity Obligasi Pada Bank Umum yang Terdaftar di Bursa Efek Indonesia

Abstract

The purpose of this study was to determine and analyze the Effect of Maturity, Bond Rating and DER on Yield to Maturity Bonds on Commercial Banks listed on the Indonesia Stock Exchange. Banking is one of the business sectors that dominates the Indonesian economy. The purpose of this study was to determine the effect of Maturity, Bond Rating and Debt to Equity Ratio (DER) on Commercial Banks listed on the Indonesia Stock Exchange with an observation period of 2015-2019. The research method used by researchers is to use an associative method and use a quantitative approach using Multiple Regression analytics. This research uses the help of the IBM SPSS Statistics 20 application program. The results found that Maturity had a positive effect on Yield to Maturity Bonds. These results are indicated by a regression coefficient of -1.490 and a significance value of 0.008, smaller than the expected significance level of 5%. Bond ratings have a negative effect on Yield to Maturity of Bonds. These results are indicated by a regression coefficient of -1.490 and a significance value of 0.389, greater than the expected significance level of 5%. Debt to Equity Ratio (DER) has a negative effect on Yield to Maturity of Bonds. These results are indicated by a regression coefficient of -1.490 and a significance value of 0.093, greater than the expected significance level of 5%. And in this study Maturity, Bond Rating and Debto to Equity Ratio (DER) simultaneously have no effect on Yield to Maturity of Bonds. The results also showed that the effect of the independent variable maturity, rating of bonds and DER on yield to maturity of bonds was 9.8% while the rest were influenced by other variables.