{"title":"通过债券评级分析印尼金融机构公司治理对到期收益率的影响","authors":"Sasya Sabrina, Florencia Irena Lawita","doi":"10.2991/icoi-19.2019.22","DOIUrl":null,"url":null,"abstract":"This research aims to analyze the effect of corporate governance (CG) towards yield to maturity (YTM) with bond rating as the intervening variable. The data of this research are obtained from the official website of IDX, Bank of Indonesia, and Pefindo. This research uses quantitative method by path analysis on the financial institutions that listed on the IDX in 2013-2016. Corporate governance consists of institutional ownership, managerial ownership, audit committee, and board size. The research results indicated that institutional ownership and board size have significant effect on YTM through bond rating, but managerial ownership and audit committee do not, and bond rating itself has significant effect to YTM. Keywords—Corporate Governance, Yield to Maturity, Bond Rating","PeriodicalId":171417,"journal":{"name":"Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Analysis of the Effect of Corporate Governance on Yield to Maturity Through Bond Rating in Indonesian Financial Institution\",\"authors\":\"Sasya Sabrina, Florencia Irena Lawita\",\"doi\":\"10.2991/icoi-19.2019.22\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This research aims to analyze the effect of corporate governance (CG) towards yield to maturity (YTM) with bond rating as the intervening variable. The data of this research are obtained from the official website of IDX, Bank of Indonesia, and Pefindo. This research uses quantitative method by path analysis on the financial institutions that listed on the IDX in 2013-2016. Corporate governance consists of institutional ownership, managerial ownership, audit committee, and board size. The research results indicated that institutional ownership and board size have significant effect on YTM through bond rating, but managerial ownership and audit committee do not, and bond rating itself has significant effect to YTM. Keywords—Corporate Governance, Yield to Maturity, Bond Rating\",\"PeriodicalId\":171417,\"journal\":{\"name\":\"Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019)\",\"volume\":\"6 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2019-10-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2991/icoi-19.2019.22\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Proceedings of the 2019 International Conference on Organizational Innovation (ICOI 2019)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2991/icoi-19.2019.22","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1
摘要
本研究旨在以债券评级为中介变量，分析公司治理对到期收益率的影响。本研究的数据来源于IDX、Bank of Indonesia和Pefindo的官方网站。本研究采用路径分析的定量方法，对2013-2016年在IDX上市的金融机构进行研究。公司治理由机构所有权、管理层所有权、审计委员会和董事会规模组成。研究结果表明，机构持股和董事会规模通过债券评级对YTM有显著影响，而管理层持股和审计委员会对YTM没有显著影响，债券评级本身对YTM有显著影响。关键词:公司治理，到期收益率，债券评级
Analysis of the Effect of Corporate Governance on Yield to Maturity Through Bond Rating in Indonesian Financial Institution
This research aims to analyze the effect of corporate governance (CG) towards yield to maturity (YTM) with bond rating as the intervening variable. The data of this research are obtained from the official website of IDX, Bank of Indonesia, and Pefindo. This research uses quantitative method by path analysis on the financial institutions that listed on the IDX in 2013-2016. Corporate governance consists of institutional ownership, managerial ownership, audit committee, and board size. The research results indicated that institutional ownership and board size have significant effect on YTM through bond rating, but managerial ownership and audit committee do not, and bond rating itself has significant effect to YTM. Keywords—Corporate Governance, Yield to Maturity, Bond Rating
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