Determinan Faktor-Faktor Harga Obligasi Perusahaan Keuangan di Bursa Efek Indonesia

Abstract

As an investment instrument, changes in yield (yield) bonds obtained by investors changes over time. The change in yield affects the price level of the bond market itself. Therefore, Investors and issuers should always pay attention to fluctuations in bond prices and the factors that affect changes in bond prices. The purpose of this study is to analyze and determine the relationship between the balance of interest rate variables, bond liquidity, dollar exchange rate, Size and leverage against bond prices by using multiple linear regression method or Oldinery Last Square (OLS). The results of this study prove that the Interest Rates, Liquidity Bonds, Dollar Rate, , Size and leverage simultaneously significantly influence the price of bonds. Partial test results proved that the variable interest rates significantly influence the price of bonds with the direction of positive influence where the higher the interest rate bond prices will rise. The variable of bond liquidity significantly influence the bond price with positive influence direction where the higher bond liquidity the bond price will increase. The dollar exchange rate significantly influences the bond price with the direction of the negative influence where the higher the dollar exchange rate the bond price will decrease further. SIZE not significantly influences the bond price with positive influence direction where the higher SIZE the bond price will increase. Leverage not significantly influences the bond price with the direction of the negative influence where the higher leverage exchange rate the bond price will decrease further.