PREDIKSI PELUANG MIGRASI CORPORATE RATING PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA BERDASARKAN KONDISI EKONOMI

Remuni El Ramadhani, Remuni (2024) PREDIKSI PELUANG MIGRASI CORPORATE RATING PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA BERDASARKAN KONDISI EKONOMI. S2 thesis, Universitas Andalas.

	Text (cover dan abstrak) cover dan abstrak.pdf - Published Version Download (105kB)
	Text (bab I (pendahuluan)) bab I (pendahuluan).pdf - Published Version Download (263kB)
	Text (bab akhir (penutup dan kesimpulan)) bab akhir (penutup dan kesimpulan).pdf - Published Version Download (66kB)
	Text (daftar pustaka) daftar pustaka.pdf - Published Version Download (245kB)
	Text (full text) full text.pdf - Published Version Restricted to Repository staff only Download (7MB) | Request a copy

Abstract

PREDIKSI PELUANG MIGRASI CORPORATE RATING PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA BERDASARKAN KONDISI EKONOMI Tesis oleh Remuni El Ramadhani (2220522028) Dibimbing oleh Dr. Rida Rahim, SE, ME dan Dr. Fajri Adrianto, SE, M.Bus (Adv) ABSTRAK Corporate Rating merupakan sebuah penilaian terhadap perusahaan, yang diharapkan mampu memberikan informasi terstandarisasi mengenai kesehatan finansial dan risiko kredit perusahaan kepada para pelaku pasar keuangan. Namun menurut para ahli, regulasi penerbitannya dianggap menjadi penghambat akan keterbaruan informasi saat terjadi perubahan ekonomi jangka pendek akibat adanya Asymmetric Information antara pihak-pihak terkait. Berangkat dari permasalahan tersebut, penelitian ini bertujuan melihat perbedaan peluang migrasi Corporate Rating dalam kondisi kontraksi dan ekspansi ekonomi. Data sekunder dari 73 perusahaan di Indonesia dianalisis menggunakan metode Markov-Switching Autoregressive (MSVAR) dan Regresi Logistik Multinomial sebelum dilakukan pengujian hipotesis. Hasil penelitian ini menunjukkan tidak ada perbedaan peluang penurunan level Corporate Rating di kedua kondisi ekonomi. Sebaliknya, peluang kenaikan level Corporate Rating lebih kecil pada saat kontraksi ekonomi, serta terdapat perbedaan peluang tidak terjadinya migrasi Corporate Rating antara kedua kondisi ekonomi. Kata kunci: Sinyal Corporate Rating, Peluang Migrasi Rating, Kondisi Ekonomi. iii PREDICTING PROBABILITY OF CORPORATE RATING MIGRATION FOR COMPANIES LISTED IN INDONESIA STOCK EXCHANGE BASED ON ECONOMIC CONDITION Thesis by Remuni El Ramadhani (2220522028) Supervised by Dr. Rida Rahim, SE, ME and Dr. Fajri Adrianto, SE, M.Bus (Adv) ABSTRACT Corporate Rating is an assessment of a company, expected to provide clear and standardized signals of a company's financial health and credit risk to financial market participants. However, according to the experts, the regulation of Corporate Rating issuance becomes a hindrance to the timeliness of company information updates in the event of short-term economic changes due to asymmetric information among the involved parties. Based on this issue, this research aims to examine the differences in Corporate Rating migration probabilities under two different economic conditions, namely economic contraction and economic expansion. Before conducted hypothesis testing, the secondary data from 73 sample companies were analyzed using Markov-Switching Autoregressive (MSVAR) and Multinomial Logistic Regression methods. The results of this study shows that there is no difference in the probability of Corporate Rating downgrades during both economic conditions. On the other side, the probability of Corporate Rating upgrades is smaller during economic contraction, and there are differences in the probability of Corporate Rating remain unchanged between both economic conditions. Keywords: Corporate Rating Signal, Rating Migration Probability, Economic Condition.

Actions (login required)

View Item