YIELD TO MATURITY: INFLATION, INTEREST RATES, PROFITABILITY, LEVERAGE, MATURITY AND SUKUK SUKUK RATING
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Date
2019
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Journal of Advanced Research in Dynamical & Control Systems, Vol. 11, 03-Special Issue
Abstract
Yield to Maturity (YTM) is an important indicator that investors need to consider in investing in sukuk.The purpose of this study is to determine the effect of inflation, interest rates, profitability, leverage, maturity and sukuk rating on sukuk Yield to Maturity (YTM) in companies that issue Shariabond (sukuk) which are listed on the Indonesia Stock Exchange (IDX) during the period 2015 - 2017. There are 17 types of sukuk used as research through purposive sampling method. This study uses multiple regression analysis to test the hypothesis. The results of this study indicate that the variable inflation, interest rates, leverage, maturity and sukuk rating have a significant effect on Yield to Maturity (YTM). Only variable profitability does not affect Yield to Maturity (YTM). This is evidenced by the magnitude of the influence of inflation, interest rates, profitability, leverage, maturity and sukuk rating on Yield to Maturity (YTM) of 69.64%, while the remaining 30.36% is influenced by other factors not measured in this study.
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Keywords
Inflation, Interest Rates, Profitability, Leverage, Maturity, Rating, Yield to Maturity