THE EFFECT OF COMPANY SIZE, LIQUIDITY, LEVERAGE, PROFITABILITY, CORPORATE GOVERNANCE, AND TYPES OF SUKUK ON CORPORATE SUKUK RATINGS IN INDONESIA

ABSTRAK

Penelitian ini bertujuan untuk mengetahui pengaruh ukuran perusahaan, likuiditas, leverage, profitabilitas, corporate governance, dan jenis sukuk terhadap rating sukuk korporasi di Indonesia rating sukuk di peringkat oleh PT. Pemeringkat Efek Indonesia (PEFINDO). Total sampel yang digunakan sebanyak 115 sampel sukuk yang masih beredar pada periode 2014-2018. Penelitian menggunakan pendekatan kuantitatif dengan teknik analisis regresi logistik ordinal. Hasil pengujian model statistik regresi logistik ordinal menemukan bahwa variabel yang berpengaruh terhadap tinggi rendahnya probabilitas rating sukuk korporasi di Indonesia meliputi ukuran perusahaan, likuiditas, corporate governance, dan jenis sukuk. Leverage, Profitabilitas dan jenis sukuk mudharabah tidak berpengaruh secara signifikan terhadap probabilitas tinggi rendahnya rating sukuk korporasi.

Kata Kunci: Sukuk, Rating, Regresi Logistik Ordinal

ABSTRACT

This paper aims to determine the effect of company size, liquidity, leverage, profitability, corporate governance, and types of sukuk to corporate sukuk ratings in Indonesia. Sukuk ratings rated by PT. Pemeringkat Efek Indonesia (PEFINDO). The total sample used is 115 samples of sukuk that still circulating in the period 2014-2018. This study uses a quantitative approach with ordinal logistic regression. The results of the ordinal logistic regression test found that variables that influence the probability of high and low corporate sukuk ratings in Indonesia are company size, liquidity, corporate governance and types of sukuk. Leverage, profitability, mudharabah sukuk are factors that have no significant effect on the probability of high and low corporates sukuk ratings.

Keywords: Sukuk, Rating, Ordinal Logistic Regression