Rizka Dewi Oktaviyani , 7211409013 (2013) PENGARUH MANAJEMEN LABA, RASIO KEUANGAN DAN MEKANISME CORPORATE GOVERNANCE TERHADAP PERINGKAT OBLIGASI. Under Graduates thesis, Universitas Negeri Semarang.

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Abstract

Bond ratings issued by rating agencies that assist investors in selecting bonds. Bond ratings useful to investors and issuers, which provide information about the company's ability to pay off the bonds issued. Rating issued a signal to investors the quality and the risk of a bond. Rating process conducted by rating agencies with respect to various factors, such as financial factors through financial ratios, earnings management measures and corporate governance mechanisms. This study aims to provide empirical evidence that earnings management, financial ratios and corporate governance mechanismsaffect the bond rating. The subject of this research is the company listed on the Stock Exchange and registered in Indosesia PT. PEFINDO years 2008-2011. The sample purposive sampling method, in order to obtain 11 companies that meet the criteria of the 4 years of observation. The data used are secondary data from financial reports and bond rating database PT. PEFINDO, while data analysis using logistic regression analysis. The results showed that earnings management, liquidity ratio, managerial ownership and audit quality affect the bond rating. Whereas the activity ratio, the ratio of market value, institutional ownership and independent directors has no effect on bond ratings. The conclusions in this study are from 8 variables used in this study only variable earnings management, liquidity ratio, managerial ownership and audit quality can be used to predict a company's bond rating. Advice can be given in which researchers can then replace the sample using the company’s finances, adding corporate governance variables are complete and careful in interpreting a company's financial ratios.

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