Analisis Pengaruh Ukuran Perusahaan, Maturity, Financial Leverage, Profitabilitas Dan Likuiditas Terhadap Peringkat Obligasi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia

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86 63 _KBRI _{Kertas Basuki Rachmat Indonesia}

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87 104 _SCCO _{Supreme Cable Manufacturing &}

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88

123 ULTJ Ultrajaya Milk Industry & Trading Co. Tbk. 137 _SIDO _{Industri Jamu & Farnasi Sido}

Muncul Tbk.

√ √ X √ √ √ X √ √ √ X √ √ √ X √

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Peringkat Obligasi

No

Kode

Emiten Nama Emiten

Peringkat Obligasi 2010 2011 2012 2013

1. ADHI Adhi Karya (Persero) Tbk. 12 12 13 13

2. BWPT BW Plantation Tbk. 13 13 12 11

3. INDF Indofood Sukses Makmur Tbk. 16 17 17 17 4. JPFA JAPFA Comfeed Indonesia Tbk. 12 13 13 14

5. LTLS Lautan Luas Tbk. 12 12 12 12

6. MAIN Malindo Feedmill Tbk. 17 12 12 12

7. MYOR Mayora Indah Tbk. 15 15 15 15

8. PPKT Pupuk Kalimantan Timur Tbk. 15 16 16 16 9. SIMP Salim Ivomas Pratama Tbk. 15 15 15 15

10. SMSM Selamat Sempurna Tbk. 16 16 16 17

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Hasil Uji Analisis Statistik Deskriptif

Descriptive Statistics

N Minimum Maximum Mean Std. Deviation

Ukuran Perusahaan 40 27,5968 31,9889 29,574993 1,1501056

Umur Obligasi 40 0 1 ,90 ,304

Financial Leverage 40 ,6514 5,6661 1,809873 1,3339301

Profitabilitas 40 ,0365 ,8282 ,339964 ,2124613

Likuiditas 40 ,2232 2,1016 1,110412 ,4467308

Peringkat Obligasi 40 11 17 14,17 1,893

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Hasil Uji Autokorelasi

Model Summaryb

Model R R Square Adjusted R

Square

Std. Error of the

Estimate

Durbin-Watson

1 ,790a ,624 ,569 1,243 1,899

a. Predictors: (Constant), Likuiditas, Financial Leverage, Ukuran Perusahaan, Umur Obligasi,

Profitabilitas

e. Dependent Variable: Peringkat Obligasi Sumber: Diolah dengan SPSS (2015)

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96 Coefficientsa

Model Unstandardized Coefficients Standardized

Coefficients

t Sig.

B Std. Error Beta

1

(Constant) 6,955 3,484 1,996 ,054

Ukuran Perusahaan -,233 ,125 -,348 -1,860 ,072

Maturity ,574 ,537 ,227 1,069 ,293

Financial Leverage -,072 ,125 -,125 -,575 ,569

Profitabilitas ,506 ,854 ,140 ,592 ,558

Likuiditas ,201 ,434 ,117 ,462 ,647

a. Dependent Variable: AbsUt

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Hasil Uji Regresi Linier Berganda

Coefficientsa

Model Unstandardized

Coefficients

Standardized

Coefficients

t Sig. Collinearity Statistics

B Std. Error Beta Tolerance VIF

(Constant) 4,311 5,733 ,752 ,457

Ukuran Perusahaan ,234 ,206 ,142 1,136 ,264 ,707 1,414

Maturity 1,537 ,883 ,247 1,740 ,091 ,549 1,820

Financial Leverage -,660 ,206 -,465 -3,205 ,003 ,525 1,905

Profitabilitas ,696 1,406 ,078 ,495 ,624 ,444 2,254

Likuiditas 2,702 ,714 ,638 3,782 ,001 ,389 2,573

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97 Lampiran 15

Hasil Uji Goodness of Fit

Model Summaryb

Model R R Square Adjusted R Square Std. Error of the Estimate

1 ,790a ,624 ,569 1,243

a. Predictors: (Constant), Likuiditas, Financial Leverage, Ukuran Perusahaan, Maturity,

Profitabilitas

b. Dependent Variable: Peringkat Obligasi

Coefficientsa

Model Unstandardized Coefficients Standardized

Coefficients

t Sig.

B Std. Error Beta

1

(Constant) 4,311 5,733 ,752 ,457

Ukuran Perusahaan ,234 ,206 ,142 1,136 ,264

Maturity 1,537 ,883 ,247 1,740 ,091

Financial Leverage -,660 ,206 -,465 -3,205 ,003

Profitabilitas -,696 1,406 -,078 ,495 ,624

Likuiditas 2,702 ,714 ,638 3,782 ,001

a. Dependent Variable: Peringkat Obligasi

ANOVAb

Model Sum of Squares df Mean Square F Sig.

1

Regression 87,282 5 17,456 11,307 ,000a

Residual 52,493 34 1,544

Total 139,775 39

a. Dependent Variable: Peringkat Obligasi

b. Predictors: (Constant), Likuiditas, Financial Leverage, Ukuran Perusahaan, Maturity,