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PENGARUH ATRIBUT OBLIGASI, TINGKAT BUNGA DAN NILAI TUKAR RUPIAH TERHADAP HARGA OBLIGASI DI INDONESIA

Jurnal Ekonomi ##issue.vol## 14, ##issue.no## 1 (2009): Ekonomi No.1 Vol.14 2009
Publisher : Jurnal Ekonomi

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Abstract

This research explains the relationshep between liquidity, coupon rate, maturity, rating, SBI (central bank’s certificate) rate, and Rupiah exchange rate against US dollar, to weighted average price (WAP) of fixed rate corporate bonds in Surabaya Stock Exchange during the period of January to December 2005. Therefore, a more comprehensive description of macroeconomic variables influences and bond attribute variables which affect bonds WAP in the secondary market is simultaneously obtained. The study employs pooled generalized least square, unbalanced pooled data of random effect model towards 19 samples of bonds which were actively traded during January 2000 to December 2005. The result indicates that (1) coupon rate, maturity and rating have positive effect; (2) SBI rate and Rupiah exchange rate against US dollar produces negative and significant effect; (3) other variable, the liquidity, has no significant effect to corporate bonds WAP in the secondary market; (4) Collectively, all variables create significant effect to corporate bonds WAP in the secondary market.

PENGARUH TINGKAT BUNGA, INFLASI, NILAI TUKAR, LEVERAGE, AKTIVITAS DAN PROFITABILITAS TERHADAP KINERJA SAHAM SEKTOR PERUSAHAAN MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA

Jurnal Manajemen ##issue.vol## 14, ##issue.no## 1 (2010)
Publisher : Tarumanagara University

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Abstract

This research aim to examine influence of the financial ratios and macroeconomic forces to the return of stock investment. These independent variables are: Return on Total Asset (ROA), Debt to Equity (DER), Net Income to Total Asset (profitability), Interest rate, Exchange Rate and Inflation rate and dependent variable is Return of Stock Investment. This research focuses on 13 food and beverage companies that listing in Indonesian Stock Exchange in 2003–2008. By multiregression analysis with using SPSS 16 showing that both of partial and simultaneous examination these independent variables influence the return of stock investment of food and beverage companies. The result showed that (1) Leverage ratio, Activity ratio and Profitability  ratio have positive influence amounting to 0,3 %, 3,1 %  and 1,8 % respectively; (2) Interest rate and Inflation rate have negative influence which reaches respectively, 125,5 % and 138,1 % and (3) Rupiah exchange rate against US dollar has no significance to Food and Beverages Stock return the Indonesian Stock Exchange(IDX) secondary market; (4) Simultaneus influence of the six independent variables are significance at  = 5 %. It can be concluded that Food and Beverages Stock Return is influenced by Interest rate, Inflation rate, Leverage ratio, Activity ratio and Profitability ratio