KEMAMPUAN RASIO KEUANGAN DAN CORPORATE GOVERNANCE MEMPREDIKSI PERINGKAT OBLIGASI PADA PERUSAHAAN CONSUMER GOODS
N. Agus Sunarjanto
Fakultas Bisnis Unika Widya Mandala Surabaya
Jl. Dinoyo 42-44 Surabaya, 60265.
Korespondensi dengan Penulis:
N.Agus Sunarjanto: Telp. +62 31 567 8478; Fax. +62 31 561 0818
This study aimed to examine empirically financial ratios (leverage, liquidity, solvability, and profitability) and corporate governance for distinguishing bond rating company in investment grade and non-investment grade companies. The population of this research was consumer goods companies listed at Indonesia Stock Exchange. The research used purposive sampling, polls financial data and analysis with logistic regression. Research finding indicated that corporate governance and financial ratios were the current ratio (CR), long-term debt ratio (LTDR), total assets and turnover (TAT), return on assets (ROA), independent commissioners (kind), managerial ownership (KM), institutional ownership and audit quality (KA) that were simultaneously able to predict bond rating company as investment grade companies and non investment grade companies.
Key words: financial ratios, corporate governance, bond rating